The Crypto Market Loses More Than $2 Trillion in 8 Months

Bitcoin, the king of cryptocurrencies, continues to fall, dragging other digital currencies.

In the aftermath of a dark day, which saw Bitcoin fall to its lowest level since December 2020, cryptocurrency prices continued to decline.

All in all, the crypto market, whose valuation had reached just over $3 trillion last November, was completely in disarray.

It is currently worth $991 billion, which is $2.1 trillion less than its all-time high, according to data from the firm CoinGecko. Roughly $2.1 trillion has evaporated in just 8 months.

Looking at all the screens, you can only see red. Bitcoin was down 11.3% at $22,428.74

The prices of the most popular cryptocurrency even went down to $21,046. Bitcoin alone represents 43.079% of the valuation of the crypto market. In other words, when it drops sharply the market suffers a colossal impact.

Ether, the second cryptocurrency by market value, fell 8% to $1,224.47.

Native tokens from promising platforms like Solana, Polkadot, and Cardano were on the rise, appearing to defy the overall bad trend.