Top Crypto Prices Today: All Top Cryptos In Red, Crypto M-Cap Declines Post Scaling $1 Tn

As of writing this copy at around 8:53 pm (IST), cryptocurrencies are seen under pressure. Bitcoin-the largest crypto by m-cap is down by close to 2.5%, likewise, Ethereum trades soft by 2.75%. Other cryptos from the pool of Coindesk 20 that constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges have also been lamenting with a drag of up to 10% as for Polygon.

Top Crypto Prices Today: All Top Cryptos In Red, Crypto M-Cap Declines Post Scaling $1 Tn

Nevertheless, Luna Classic (LUNA) is up by over 57%.

As per the data, global crypto market cap earlier during the day reclaimed $1 trillion but now has again succumbed to the softness in top cryptos. Last, the global crypto market cap stood at $936.53B, a 2.20% decrease over the last day. Nevertheless, the total crypto market volume over the last 24 hours is $56.76B, which makes a 8.86% increase.

Bitcoin and Ethereum are said to have eroded as much as 2/3rd of their value from their recent highs.

Bitcoin last traded at $20,704, with a cut of 2.86%.

The crypto market has seen sharp sell-off in the beginning of this year on the back of US Fed rate hike, inflationary prressure, Russia-Ukraine crisis etc.

On the current 'Crypto winter' scenario that typically means bearish sentiment in digital tokens, a leading dailies report cites and expert who says "Crypto Winter is nothing new. It is a cyclical event and happens every 4 years as history suggests".

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