Terra (LUNA) Leads Major Cryptocurrencies' Decline in the Last Month

For cryptocurrency investors, January 2022 brought significant losses. The U.S. Federal Reserve's (The Fed) plan to tighten monetary policy more aggressively than previously anticipated triggered a cryptocurrency downturn at the beginning of the year.

According to Coinbase, Bitcoin (BTC) was traded at Rp 532.98 million per coin on Monday, January 31, 2022, at 13:04 WIB. This represents a 20.98% decrease in the price of this benchmark cryptocurrency over the past month.

Among major cryptocurrencies, Terra Luna (LUNA) experienced the sharpest decline over the past month, falling 50.46% to Rp 637,62 thousand per coin. Solana (SOL) followed with a 46.59% correction, and Polkadot (DOT) dropped 34.79%.

Ethereum (ETH) also saw a significant price drop, falling 32.33% to Rp 36.11 million per coin over the past month. XRP (XRP) decreased by 29.65% to Rp 8,447.45 per coin, Binance Coin (BNB) fell 28.32% to Rp 5.32 million per coin, Cardano shrank 22.94% to Rp 14,676.07 per coin, and Doge Coin (DOGE) was corrected by 19.59% to Rp 1,971.39 per coin.

These ten cryptocurrencies have market capitalizations exceeding Rp 200 trillion. BTC boasts the largest market capitalization, reaching Rp 10 quadrillion, while AVAX has the lowest, valued at Rp 229 trillion.