For the first time since January 2021, the value of the cryptocurrency market fell below $1 trillion. It currently reaches as low as $876.74 billion.
On Monday, the value of the cryptocurrency market fell below $1 trillion for the first time since the beginning of 2021, reaching $926 billion, and currently, according to the data site CoinMarketCap, it accounts for $876.74 billion.
The global crypto market capitalization peaked at $2.9 trillion in November 2021, but the situation has become highly volatile since then. In the last two months alone, the market has lost $1 trillion in value due to high inflation and tightening of monetary policy in different countries.
On the June 14 morning, the price of one of the largest cryptocurrencies, Bitcoin, fell below $21,000. Bitcoin is now trading at its lowest level since late 2020. In the last 7 days, the currency saw a 32.22% decline, and its price currently reaches $20,513.
In addition to Bitcoin, the prices of other cryptocurrencies dropped as well, including Ethereum, Solana, and Avalanche. Ethereum's price fell by almost 50% reaching $1,065, Solana saw a 30% decrease in price and amounts to $27.56, and Avalanche's price is currently $14.96 (down 39.40% over the 7 days).
You can find more data here.