Crypto Market Cap Falls Over 8% to $2.7T After Recent Crypto Crash

The overall crypto market cap has seen a significant decline, dropping over 8% as major cryptocurrencies continue to struggle

The overall crypto market cap has seen a significant decline, dropping over 8% to fall below the $2.7 trillion mark as major cryptocurrencies continue to struggle following the recent market crash.

According to TradingView data, the crypto market cap was still at $3.1 trillion at the start of February. However, following the crash, it plummeted to $2.5 trillion and has yet to climb back to the $3 trillion threshold.

Beyond Bitcoin (BTC), which has fallen below the $80,000 level, other significant tokens such as Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), and Solana (SOL) are still struggling to recover from the crash.

The largest tokens have seen price dips ranging from 7% to more than 10%, excluding stablecoins like Tether (USDT) and USD Coin (USDC), which have remained relatively stable.

In the past 24 hours, Ethereum (ETH) experienced a nearly 11% drop, bringing its price down to $2,091. Ethereum’s market cap also fell 10.8%, reaching $252 trillion.

Solana (SOL) saw an even steeper decline, dropping more than 11% in the past day. Its price now stands at $126.29, a dramatic drop from its all-time high of $293.31, resulting in a 50% decrease from its peak.

XRP also struggled, falling 10.5% in the past 24 hours and nearly 25% over the past week. XRP is currently trading at $1.99, and its market cap has decreased by 10.3%, now standing at $115 trillion.

Binance Coin (BNB) experienced the smallest decline among the major tokens, down 7.4% in the past 24 hours. However, BNB has still decreased by 12.7% in the last week, with its market cap dropping by 7.3% to $83 trillion.