Cryptocurrencies Lose $65 Billion in 48 Hrs

Digital assets continue to suffer heavy losses during Friday's trading, wiping out from the cryptocurrency market about $65 Billion in just 48 hours.

By the end of trading, the market value of all digital currencies has declined to $156.73 billion, compared to the level of $ 169 billion recorded yesterday.

Earlier in the trading, the market value of all e-currencies fell to a level low of $ 118.11 billion, according to Coin Market Cap.

At the end of trading last Wednesday, the total market value stood at $221.63 billion, recording losses of about $64.9 billion in just 48 hours.

The losses come in conjunction with a sharp selling wave that hit the world markets within the past few hours, following the coronavirus spread and the failure of President Donald Trump's plans to support the markets.

In terms of trading this week, the digital market witnessed the wiping of about $ 105.5 billion of its value, with the fact that the market value stood at $ 262.24 billion at the end of last Friday's transactions.

Meantime, the Bitcoin coin fell by %14.1 to $ 5492.7, with its market value falling to $ 100.34 billion.

Bitcoin, the number one e-currency, stood at $ 9111 at the end of last Friday's trading, losing 39.7% of its value in less than a week.

Ethereum, which ranks second, fell to $ 129.85, down 10.2% in the past 24 hours.

The XRP digital asset fell by 6%, recording the level of $ 0.155, and maintaining the third position in the list of the five largest e-currencies by market value.

The Tether coin fell by 0.3% to one dollar, occupying the fourth position with a market value of $ 4.64 billion.

As for the "Bitcoin Cash" coin, which stood fifth on the big five list, slid 13.9 % to $ 169.38.