Breaking: Crypto Market falls below $1 Trillion.

Yuvi
Yuvi
4 Min Read

Today, the crypto market has lost nearly 6 percent in value, and the overall market capitalization has fallen to less than $1 trillion. The cryptocurrency market was bleeding red Monday, to the extent that its valuation wiped out the $1 trillion marker. The cryptocurrency market fell almost 6 percent on the day, marking its first fall under the $1 trillion mark since July 17.

The global crypto market capitalization has dropped by 15.28 percent over the past day, falling $944.92 billion, according to
CoinMarketCaps live-performance data. The total cryptocurrency market capitalization fell to $966 billion, down from $1.01 trillion the previous day. The total cryptocurrency market cap fell to $969 billion, according to Coinmarketcap data, down roughly 200% from its record-high market cap of around $3 trillion seen in last November. Both bitcoin and Ethereum, two of the largest cryptos as measured by market cap, fell close to 8-9 percent, with corrections from their all-time highs of nearly 50 percent.

Crypto market crash

Bitcoin, Ethereum, and other top cryptocurrencies took some hits on Tuesday night, during what was expected to be a turbulent week for major crypto markets and global finance. Crypto prices fell across the board Monday, lining up with wider financial markets, as the worlds crypto market capitalization fell below $1 trillion.

The value of the cryptocurrency market fell below $1 trillion for the first time since February 2021, according to CoinMarketCap, which tracks over 19,000 cryptocurrency prices. After a week of sustained rallies in most virtual currency markets, prices are falling, with the total value of the market falling below $1 trillion for the first time since July 17, as the biggest coins have retreated from some of their gains.

After a week of solid gains, prices are falling once more – and its overall market capitalization has dropped below $1
trillion for the first time in days – as Ethereum, Bitcoin, and other top coins have lost a portion of their recent gains.
The crypto market has been pulled back from the approximately $3 trillion valuation reached in November of last year, suffering a so-called crypto winter, where prices of Bitcoin and other coins struggled to get any momentum going on an upward trajectory.

Crypto market crash

The crypto market has lost $1 trillion in value over just the past two months, as investors divested riskier assets amid rising inflation and concerns about rising central bank interest rates stifling growth. The price of Bitcoin and other cryptocurrencies has fallen by 20%-40% over the last seven days. The crypto market reached new peak value in 2021
during the historic bull run.

Amid the wider market turmoil, the cryptocurrencies total market cap has fallen below $1 trillion, levels that had not been seen since February 2021. The total market value, which had reached over $3 trillion in November, fell below $1 trillion in Mondays trading hours in New York, according to CoinGecko.

Celsius has also been affected by a general decrease in the cryptocurrency market over the past several months, according to The Financial Times, with Celsiuss overall holdings falling from $24 billion in December 2021 to $11.8 billion last month.

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Co-founder of Xryptonation.com, Senior Author, Editor, Blockchain Expert.
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