Weekly Recap: Complete Disaster for the Crypto Market

Last week has been a complete disaster for the entire crypto market, with virtually all coins dropping more than 20%, similar to the degree of percentage decrease the U.S. stock market experienced when the financial crisis broke out in 2008. Let’s take a look at how the biggest cryptocurrencies fared over the past 7 days.

BTC: $35,941.97 (-16.36% over the past 7 days)

16.36% may seem like a lot, but this is actually the least percentage decline any of the major cryptocurrencies experienced over the past week. For BTC, the price failed to stabilize at $40,000, dropping all the way to just below $36,000 at the end of week as the entire market slipped.

BTC price chart over the past 7 days (1-hour intervals)

ETH: $2,494.56 (-25.01% over the past 7 days)

ETH suffered the biggest weekly decline since May last year, and is now down more than 25% over the past week, plowing just below $2,500. ETH has proven its ability to comeback from these types of massive down swings, but it will take some time, seeing that the May crash last year was not recovered until September, a whole 3 and a half months later.

ETH price chart over the past 7 days (1-hour intervals)

UNI: $10.85 (-37.75% over the past 7 days)

UNI suffered the largest drop out of all tradable cryptocurrencies on BTCC.com this past week, declining nearly 38% in just 7 days, representing a 2.4x drop over the percentage decline BTC realized. Threatening to drop below $10 for the first time since Jan 23 of last year, which is a day more than a year ago, even investors bullish on Uni would have their confidence wavered in the coin underlying the largest DeFi protocol blockchain network.

UNI price chart over the past 7 days (1-hour intervals)

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