• To a staggering -6.6%, the global crypto market has fallen dramatically.
• Bled to more that -13% and still falling.
• Additionally, investors are selling crypto to offset the US tax deadline.

The market cap for cryptocurrency has fallen to nearly $2 trillion. Among those tokens which have experienced a comparable drop are BNB and Bitcoin.

Within 24 hours, the global cryptocurrency capitalization fell by an astounding -6.06%.

Bitcoin seems to have fallen to -15.40% within a matter of days, with its current price falling to -6.13% after just one day.

Additionally, crypto assets and tokens have also suffered. For example, Ethereum is the market’s second-largest cryptocurrency. Yesterday, Ethereum’s price dropped by 6.84% to $2961.08. ETH prices have fallen by 15.75% during the week.

BNB, the market’s fourth-largest crypto asset, has dropped 5.07% to $393.84 since yesterday. The BNB price dropped by 12.73% over the past week.

Yesterday, XRP, the market’s sixth-largest cryptocurrency, fell 6.37% to $0.698. The price of XRP also dropped 15.69% during the week.

Solana coin, the market’s seventh-ranked coin, saw its price drop by 10.41% to $99. Within one day. Solana’s stock price has fallen to 25.02% within 7 days.

David Duong (NASDAQ: Coinbase Global Head of Institutional Research), says that the market is taking a wrong turn due to some investors selling cryptocurrency ahead of the US tax deadline.

According to him, there have been repeating trends since 2021. “We saw market participants selling digital assets to meet tax-related obligations last year,” he wrote in a recent note. He added that investors may be nervous about the Fed raising interest rates.

The crypto market crash has been viewed by some as a serious problem, but others see it more as an opportunity to purchase more tokens as they fall.

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