Global Crypto Market crashes, Bitcoin down like 2020 level

Global Crypto Market crashes, Bitcoin down like 2020 level

The global market cap has dropped 9.37 percent to $1.27 trillion, and the majority of prominent coins have seen their value fall in the last 24 hours.

On Thursday, the price of bitcoin plummeted to its lowest level in 16 months after a major sell-off of digital assets. Other big cryptocurrencies have been pulled down by the collapse of TerraUSD, the so-called stablecoin that lost its dollar peg last week, along with risk assets like tech stocks.

The world's largest cryptocurrency fell over 12% to $27,194.41, its lowest level since January 2021.

Ethereum, the world's second-largest cryptocurrency by market value, dropped 23% to $1,841.12.

Other cryptocurrencies like as XRP were down 34%, Solana were down 38%, Cardano were down 35%, Stellar were down 29%, Avalanche were down 39%, Polkadot were down 32%, and Terra USD were down 27%. Other big alt currencies like Dogecoin and Shiba Inu were down 35% and 38%, respectively.

Overall, the big top tokens have lost a significant amount of ground in the recent 24 hours.