While during the December peak the total crypto market cap was nearing $800 bln, the numbers are way more humble this year – the persistent bearish trend made it plunge below the $200 bln mark for the first time since 2017. With almost all biggest cryptocurrencies suffering from double-digits losses (the Ethereum price fell 35 percent in just a week), such an outcome was surely expected.
Pundits do not see a clear reason for this rapid decline, since the SEC postponement alone cannot have such a negative impact on the market. As of now, it is unclear when the nightmare is ending, but many believe that the volatility will decrease only after cryptocurrencies finally make it to the mainstream.
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Vladislav Sopov
Dan Burgin