According to data from crypto news, the five largest tokens by market cap have failed to recover from the recent crypto market crash that took place on Feb. 24. As a result, the overall crypto market cap has fallen by nearly 8.8% in the past 24 hours, bringing down the amount to $2.73 trillion.
Data from TradingView shows at the beginning of February, the total crypto market cap still stood at $3.1 trillion, but it took a dive on Feb. 24 and fell to levels as low as $2.5 trillion. Since then, the overall crypto market cap has yet to climb back to the $3 trillion threshold, indicating the market has not recovered from the recent crash.
Aside from Bitcoin btc -8.56% Bitcoin, which has fallen below the $80,000 threshold, other major tokens such as Ethereum Ethereum eth -11.08% Ethereum, Ripple XRP xrp -10.49% XRP, Binance Coin BNB bnb -8.86% BNB and Solana Solana sol -8.19% Solana are still reeling from the effects of the market crash. Price dips from the largest coins by market cap range from more than 10% to around 7%, excluding stablecoins USDT Tether usdt -0.05% Tether and USDC USDC usdc 0.01% USDC.
In the past 24 hours, Ethereum has fallen by nearly 11%. At press time, the second largest cryptocurrency by market cap is trading hands at $2,091. ETH’s market cap has fallen 10.8% to $252 trillion.
Solana suffered a worse fall as it declined by more than 11% in the past day. SOL is currently trading at a price of $126.29, falling more than 50% from its previous all-time high of $293.31. Solana’s market cap has fallen by 11% to $62 trillion.
Following the crypto market’s downward pattern, XRP experienced a decline of 10.5% in the past day and nearly 25% in the past week. The Ripple Labs token is currently trading at $1.99. Its market cap fell by 10.3% to $115 trillion.
Binance Coin suffered the least compared to the other major tokens, as BNB went down by 7.4% to $570.20 in the past 24 hours. In the past week, BNB has decreased by 12.7%. BNB’s market cap currently stands at $83 trillion, having gone down by 7.3%.
