The day before, the total capitalization of the global crypto market fell to 960 billion USD. This is the minimum value since 01/13/2021. Over the past five days, the total value of the tokens circulating on the market has decreased by 20%. At the time of preparation of the material, the capitalization of the crypto market was equal to 928 billion USD.
The rates of almost all virtual currencies went into a steep peak. For example, BTC has fallen in price by 24% in five days, and ETH by 35%. The Polkadot, Binance Coin, Dogecoin, Solana and XRP rates sank by 25-33%. The last time these tokens traded so cheaply was at the beginning of last year. This is evidenced by data from CoinMarketCap.
Experts described the current situation in the crypto market as a steep fall. Ordinary investors realized all the risks that digital currencies carry, too late. The market is falling ahead of the Fed’s tightening of monetary policy. This morning, the value of the virtual currency bitcoin dropped to 20,800 USD. Experts say that this is not the limit. In the near future, the BTC rate will drop even more.