Crypto Assets Lose Nearly $800 Billion In Market Value Over The Past Month

11 May 2022

Crypto assets shed nearly $800 billion in market value over the past month, touching a low of $1.4 trillion on Tuesday, according CoinMarketCap and reported by NBC News. Digital asset prices have slumped, mirroring a plunge in equities, on fears of aggressive interest rate hikes around the globe to stave off decades-high inflation.

Bitcoin hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000, reaching more than 54 percent below its November all-time high of $69,000.

Total crypto market value was at $2.2 trillion on April 2, well off of its all-time peak of $2.9 trillion in early November, as per CoinMarketCap.