$30 Billion Lost: 4 Stats That Show a Crypto Market in Decline

The crypto markets are seeing red in a big way Wednesday as an ongoing rout is wiping away billions of dollars in value.

As reported by CoinDesk, the collective market capitalization for all crypto assets hit a new low for the year earlier today - as it stands, the overall market cap is roughly $225 billion, representing a significant decline from the more than $800 billion witnessed in early January of this year.

Among the developments driving the market turmoil: the fact that the U.S. Securities and Exchange Commission decided to punt a decision on a proposed bitcoin exchange-traded fund.

As always, the devil is in the details - and these four statistics show a market in turmoil.

According to figures compiled by CoinDesk, as much as $51 billion in market cap was lost during the past seven days.

CoinMarketCap figures indicate that as much as $30 billion or more in value was shed amid the day's market action.

The market capitalization data only tells part of the story.

Perhaps most tellingly, all of the top 20 cryptocurrencies, showed significant declines in the past 24 hours, accounting for an average loss of more than 14 percent during that period.

That extended period of price declines is fully on display in the graph below, pulled from Bitfinex, which shows the market sliding downward after climbing above $8,000 last month.

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