Cryptocurrency Market Value 2023: Does Cryptocurrency Have Real Value?

Affiliate disclosure: In full transparency – some of the links on our website are affiliate links, if you use them to make a purchase we will earn a commission at no additional cost for you (none whatsoever!).

In this post, we will discuss Cryptocurrency Market Value 2023

Cryptocurrency market value exceeds $ 2 trillion for the first time since May by using the best forex signals

In the previous several weeks, the cryptocurrency market has done strongly, with the overall market value climbing by nearly $ 700 billion. The total value of all circulating cryptocurrencies is a crucial indicator of market health and the most reliable forex signal.

For the first time in three months, the market capitalization of cryptocurrencies surpassed $2 trillion due to market growth reached This increase in market value demonstrates conclusively that purchasers are reclaiming power.

SafeTrading statistics indicate the total market capitalization surpassed $2.07 trillion for the day, the highest level since May. The market capitalization has climbed by 4.6% over the past twenty-four hours. In addition, the market has surged by around 25 percent and its overall worth has increased by $400 billion since last week.

Since May, the entire market value of cryptocurrencies has topped $2 trillion for the first time.

Cryptocurrency Market Value

Image credit: pexels

Bitcoin and Ethereum constitute the majority of the cryptocurrency market.

Bitcoin (BTC), the largest and most significant cryptocurrency, represents 43.7% of the market, while Bitcoin (BTC) represents 18.9%. then Ethereum (ETH) in terms of market share.

At the time of publication, the biggest cryptocurrency Bitcoin is trading at $ 46,397, up 2.62 percent, while the second-largest cryptocurrency, Ethereum, continues to trade at $ 3,240, up 3.81 percent, according to the best forex signals.

In January, the entire value of the cryptocurrency money market topped $1 trillion, and due to a strong surge in the market, it doubled in three months to $2.6 billion.

However, the market was unable to maintain this level, and as a result of the steep decline in June/July, the market value was cut in half.

The largest Defi attack in history recovered just 1% of assets.

In a hack conducted the other day, a hacker infiltrated the Binance Smart Chain (BSC), Ethereum (ETH), and Polygon blockchain platforms, stealing approximately $ 600 million.

↑ Hackers recover stolen assets.

This attack is the largest Defi hack in the history of the bitcoin industry. As a result of the attack, the hackers transferred assets from the targeted blockchains to their wallets, according to SafeTrading specialists.

These transfers occurred on the Ethereum, Binance Smart Chain (BSC), and Polygon networks to three wallets associated with the hacker. Tuesday, Poly Network announced the hack via Twitter.

In a message sent to the hacker after the incident, Poly Network requested the cybercriminal retrieve the stolen monies. The Poly Network message reads, “The amount of money you stole is the highest amount ever taken in the Defi industry.” Law enforcement agents in any nation will view this as a major economic crime, and you will be apprehended shortly.

Etherscan data indicates that the hacker recovered $ 2 million in Shiba Inu Tokens (SHIB) and $ 616,000 in Fei USD in response to this call from Poly Network (FEI). BscScan data, however, indicates that the hacker returned 23.88 bitcoins to Poly Network, pegged to Binance (BTCB). The total worth of the recovered coins is a little over $1 million at the time of writing.

↑ Less than 1% of the stolen money was returned.

Three reimbursement transactions totaling $1,010,100 have been received thus far from the hacker’s wallet address. After the attack, the hacker returned $ 4.6 million worth of cryptocurrencies. However, the total amount of the recovered assets is less than 1% of the over $600 million in stolen assets from Poly Network.

As previously reported by CoinTurk, the Poly Network hack was the largest Decentralized Financial Attack (DeFi) to date, pushing the total value of theft in the market segment to over $1.1 billion in 2021, approximately 10 times more than in 2020. price.

However, since the second half of 2020, Defi has been responsible for the majority of cryptocurrency hacker attacks, despite a reduction in hacking occurrences at centralized exchanges, according to SafeTrading’s expert.

Also Read:

Andy Thompson

Andy Thompson has been a freelance writer for a long while. She is a senior SEO and content marketing analyst at Digiexe, a digital marketing agency specializing in content and data-driven SEO. She has more than seven years of experience in digital marketing & affiliate marketing too. She likes sharing her knowledge in a wide range of domains ranging from ecommerce, startups, social media marketing, making money online, affiliate marketing to human capital management, and much more. She has been writing for several authoritative SEO, Make Money Online & digital marketing blogs like: ImageStation, & Newsmartwave

Leave a Comment