{"id":48644,"date":"2022-06-13T17:42:44","date_gmt":"2022-06-13T15:42:44","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48644"},"modified":"2022-06-13T17:42:44","modified_gmt":"2022-06-13T15:42:44","slug":"the-crypto-market-cap-falls-below-1-trillion-for-the-first-time-since-early-2021","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/the-crypto-market-cap-falls-below-1-trillion-for-the-first-time-since-early-2021\/","title":{"rendered":"The Crypto Market Cap Falls Below $1 Trillion For The First Time Since Early 2021"},"content":{"rendered":"

At the start of this week, the crypto market<\/strong> suffered a huge blow<\/strong>. Top cryptocurrencies of the market plunged severely<\/strong>, as millions of investors were liquidated<\/strong>. The most popular crypto token, Bitcoin<\/strong><\/a>, went below $25,000<\/strong>. Moreover, the systematic risks<\/strong> within the crypto market are still hinting toward more collapse<\/strong> in the coming days. This has caused a state of extreme fear<\/strong> among investors and traders.<\/span><\/p>\n

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Being the number one crypto token, Bitcoin has a strong impact<\/strong> on the overall digital asset industry. However, Bitcoin slipped for twelve consecutive weeks<\/strong>. From being valued around the $50K mark in March<\/strong>, Bitcoin has now degraded to $23,000<\/strong>. One of the most prominent reasons for this crash was the concerning data on increasing global inflation<\/strong>. BTC has lost over 15%<\/strong> in the last 24 hours, causing a wave of concern in the entire market.<\/span><\/p>\n

In addition to this, the global crypto<\/strong><\/span> market cap<\/a><\/strong> has also shed its value. It has dropped below $1 Trillion<\/strong> for the first time since the start of 2021<\/strong>. At the time of writing, the market cap is valued at only $953.40 Billion<\/strong>. A few months back, the market cap peaked at $3 Trillion<\/strong>. Thus, this indicates the poor state<\/strong> of the digital asset industry.<\/span><\/p>\n

Tensions Rise Amid The Crypto Market Crash<\/span><\/h2>\n

Crypto enthusiasts have continued to believe that the market will bounce back<\/strong>. Many believed that the market had touched the low in mid-May<\/strong>. However, the concerning financial developments in the global sector have forced the market to stay bearish<\/strong>. Not only Bitcoin but the altcoin market is also suffering from significant double-digit percentage losses<\/strong>. Moreover, the dominance of Bitcoin has decreased to 46.30%<\/strong>.<\/span><\/p>\n

\"cryptocurrencies\"<\/p>\n

The leading altcoin of the market, Ethereum<\/strong>, is valued at under $1,200<\/strong> after a daily decrease of 21%<\/strong>. Alongside ETH, Cardano, Ripple, Dogecoin, Solana, Tron, and Avalanche<\/strong> have also lost a major portion of their value. In the list of top cryptocurrencies, there is rarely a coin that has not bled severely<\/strong>.<\/span><\/p>\n

In the latest market developments, Tron\u2019s stablecoin, USDD<\/strong>, has lost its pegging to $1 by 1%<\/strong>. However, users are speculating on a further crash<\/strong> in the stablecoin. They are comparing it with the performance of Terra\u2019s stablecoin, UST<\/strong>. As a result, TRX<\/strong> is also facing selling pressure<\/strong> from investors and traders.<\/span><\/p>\n

The market is currently undergoing a critical phase<\/strong>. The sliding price of Bitcoin is raising many eyebrows<\/strong> in the crypto community. It is yet to be seen where Bitcoin will bottom out<\/strong> and will the market bounce back any time soon or not. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

At the start of this week, the crypto market suffered a huge blow. Top cryptocurrencies of the market plunged severely, as millions of investors were liquidated. The most popular crypto token, Bitcoin, went below $25,000. Moreover, the systematic risks within the crypto market are still hinting toward more collapse in the coming days. This has … <\/p>\n

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