What’s going on with the crypto markets?
The worldwide crypto market capitalization is at $968 billion, a far cry from its all-time high of nearly $3 trillion in November 2021.
Investors are selling off crypto assets amid heightened inflationary pressures, coming on the heels of the historical Luna/Terra crash that wiped out billions in other assets.
Bitcoin (CRYPTO: BTC), the most popular cryptocurrency, is down 13.25% in the last 24 hours and is priced at $23,434.57 Monday morning.
Bitcoin isn’t alone in the massive sell-off; altcoins including Ethereum, Solana, BNB, and Dogecoin are slumping as the week begins.
Let’s take a look.
Ethereum (CRYPTO: ETH)
The popular altcoin used mainly for purchasing NFTs is at its lowest level in more than a year, trading at $1,221.99.
Solana
The “fast, secure, and scalable” coin is down more than 15% in the last 24 hours, trading at $26.87 on Monday morning.
BNB (CRYPTO: BNB)
Binance’s native coin is trading 13.18% lower to $222.40.
Dogecoin (CRYPTO: DOGE)
The ever-popular altcoin is trading 16.19% lower to $0.054
In #Bitcoin We Trust.
— Michael Saylor� (@saylor) June 13, 2022
While crypto remains one of the most volatile financial vehicles, MicroStrategy Incorporated (NASDAQ:MSTR) founder and CEO Michael Saylor, who owns more than 129,000 Bitcoins, remains calm, perhaps an indicator to investors that this rut could be a buying opportunity.
