Crypto Market Cap Falls: According to CoinMarketCap data on Tuesday, the global crypto market cap falls to $1.41 trillion, a 7.94 percent drop in the last 24 hours (8.43 a.m.).
Almost all of the top ten cryptocurrency prices have dropped in the last 24 hours, while the global cryptocurrency market volume has increased by 84.76 percent to $182.54 billion.
Read more to get the latest news on global crypto market cap falls.
Why do we need to be aware of the market?
Market share is an essential indicator of a company’s competitiveness. When a company increases its market share, its profitability rises.
This is because as companies grow in size, they can scale as well, offering lower prices and limiting the growth of their competitors.
Some businesses will even run certain parts of their business at a loss to remove competitors or force them to go out of business. The company may increase its market share and raise prices even further.
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Market share can significantly impact stock prices in financial markets, particularly in cyclical industries with tight margins and fierce competition. Any significant difference in market share may cause investor sentiment to weaken or strengthen.
Recently, global crypto market cap falls.
What factors are responsible for the Crypto Market Cap Falls?
DeFi’s total volume was $20.84 billion, accounting for 11.41 percent of the crypto market’s total 24-hour volume.
Consequently, global crypto market cap falls.
The stable coin volume was $163.94 billion, accounting for 89.81 percent of the total 24-hour crypto market volume.
Bitcoin’s value has also dropped to $30,932. Bitcoin’s price fell below $30,000 in the last 24 hours for the first time since July 2021.
Thus, global crypto market cap falls.
Bitcoin’s dominance as the most valuable crypto asset has remained stable over the last day at around 41.84 percent. The overall Bitcoin price has dropped by 19.63 percent in the last seven days. Bitcoin’s price has dropped by 8.26 percent in the last 24 hours.
Hence, global crypto market cap falls.
According to experts, Bitcoin and other cryptocurrency prices are collapsing due to a widespread sell-off fueled by investor panic. Even large investors appear to be selling a large portion of their crypto holdings, causing the price to plummet significantly.
As a result of a widespread sell-off, BTC prices fell below $30,000 for the first time since July 2021, while ETH prices stood at $2319. According to Darshan Bathija, CEO and Co-Founder of Vauld, the Crypto Fear and Greed index was in the “Extreme Fear” zone, indicating that investors were overly concerned and selling their holdings to minimize losses.
As, global crypto market cap falls.
Bathija claims that what we’re seeing right now is the result of BTC’s high correlation to the S&P index and market participants attempting to reduce their risk exposure.
Due to the market’s uncertain macro conditions, the Luna Foundation Guard decided to sell approximately $750 million of its BTC reserves, adding to the current selling pressure. According to Bathija, the foundation labeled the sale a “loan” to OTC traders to protect the UST peg.
There are already concerns that inflation and a recession will cause the crypto markets to crash.
Therefore, global crypto market cap falls.
This is also the first time Bitcoin has traded below $30,000 since July 2021, and it is down nearly 56% from its peak in November of last year.
“Rising inflation, rising Russia-Ukraine tensions, rising inflation, and a highly volatile situation in Sri Lanka have battered global financial markets.” The Indian rupee closed at a record low, raising import costs and significantly impacting financial markets. “The aforementioned factors are putting tremendous pressure on the crypto market, and we are witnessing a large sell-off by investors to part with the cash for better times,” said Shivam Thakral, CEO of BuyUcoin.
As a consequence, global crypto market cap falls now.
Several other top ten crypto assets’ prices have plummeted in recent days. Take a look at how prices have changed in the last 24 hours:
Ethereum’s price has dropped 5.9 percent in the last 24 hours to $2319.
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So, global crypto market cap falls.
In the last seven days, the price of ETH has dropped by 18.63 percent. It is currently the second most valuable crypto asset in terms of market capitalization.
Binance (BNB): The Binance coin price has dropped 11.67 percent in the last 24 hours to $309.
In the last seven days, the price of BNB has fallen by 20.92 percent. It is currently the fourth most valuable crypto asset in terms of market capitalisation.
XRP: The price of the XRP coin has dropped 11.87 percent in the last 24 hours to $0.502. In the last seven days, the price has fallen by 19.44 percent. It is currently the sixth most valuable crypto asset in terms of market capitalisation.
Solana (SOL): The price of Solana fell 14.45 percent in the last 24 hours to $64.90.
‘s price has dropped by 26.42 percent in the last seven days. It is currently the seventh most valuable crypto asset in terms of market capitalisation.
Cardano (ADA): The Cardano token’s price has dropped 12.39 percent to $0.6272. In the last seven days, the price of ADA has dropped 12.36 percent in the last 24 hours. It is currently the eighth most valuable crypto asset in terms of market capitalisation.
Terra (LUNA): The price of Terra Coin has dropped by 53% in the last 24 hours to $28.83. In the last seven days, the price of LUNA has dropped by 85.96%. It is now ranked 14th in terms of market capitalization.
Dogecoin’s (DOGE) price has dropped 11.64 percent in the last 24 hours, while Shiba In’s (SHIB) price has dropped 17.07 percent in the last day. DOGE is currently ranked 11th, while SHIB is ranked 16th in terms of market capitalisation. DOGE was trading at $0.1084 at the time of writing, while SHIB was trading at $0.00001505.