The crypto market performed miraculously last year. But just as everyone was waiting for the delightful spring, the untimely winter hit the garden of cryptocurrencies and its blossoms felt, unripe.
The crypto market performed miraculously last year. But started a rough year .
During its worst moment, the total crypto market cap faced a 39% drop from $1.81 trillion to $1.10 trillion in seven days.
Thence, Bitcoin has plunged more than 52% year to date and is now hovering around $21,000 per coin.
And the most popular cryptocurrency has shed about 70% of its value.
Since hitting an all-time high of roughly $69,000 in November.
The second-largest cryptocurrency, Ethereum (ETH) also is down over 15% and is currently trading at around $1,100.
With a current market capitalization, Ethereum has lost almost 80% of its value since its all-time high of $4,891.70 recorded in November 2021 .
The biggest holder of the cel token, Celsius was not spared from this bite, too.
Celsius’ cel token dropped from over $7 to about 33 cents and it’s down more than 50% in the past week.
Put these next to the complete disintegration of the UST to get a complete picture of this winter
But which winter will last?