For cryptocurrency traders and enthusiasts, the month of June 2022 has been one to remember as crypto assets have tested investors’ endurance level. On Thursday morning, Bitcoin, the coin that makes up 42% of the total crypto market, fell to $19,984 for the fourth time in the last few weeks before rising above $20,000. Bitcoin at the close of last month was worth about $31,700.
Summary of June
- At the time of this report, the global capitalization of the crypto market stood at $893 billion, way less than its $2 trillion mark in November 2021.
- Bitcoin, the most popular cryptocurrency, fell at least three times this month lower than its December 17th market price of $19,783.21 in the previous bull run.
- Ethereum, another popular crypto asset which was $1,960 at the start of the month, fell to $897 on the 18th of June. Ethereum is currently fighting a threshold of $1,000 for a couple of days.
- The altcoins market caps at $510.6 billion as of 13th of June 2022, down by 27% of its initial value.
What you should know
- A British Virgin Islands court ordered Three Arrows Capital, the largest crypto by market capitalization, to liquidate a cryptocurrency hedge fund.
- Three Arrows Capital finances in this bull run season dipped as the company has spent about $400 million on liquidation. Another sad news for investors.