Cryptocurrency market capitalization registers largest daily drop since 2022 | Headlines | News | CoinMarketCap
08/05/2024 18:19
The global cryptocurrency market has experienced a significant downturn as escalating tensions in the Middle East and worries about the global …
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Published on August 05, 2024 11:07 GMT+00:00edited on August 05, 2024 11:14 GMT+00:00
The global cryptocurrency market has experienced a significant downturn as escalating tensions in the Middle East and worries about the global economy's strength appear to erode investor confidence.
According to Coingecko data, the cryptocurrency market capitalization has plummeted to $1.94 trillion — a drop of over 13% in the last 24 hours. TradingView charts show that today's decline in the crypto market cap is the largest daily downturn since January 2022.
Multiple-year cryptocurrency market capitalization charts shows the significance of the downturn over the past 24 hours. Image: TradingView.
In the past 24 hours, a total of 280,093 traders were liquidated — with the total liquidations across centralized exchanges amounting to $1.07 billion — according to data from Coinglass.
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