Global Crypto Market Cap Drops More Than 4% In the Last 24 Hours

• The global crypto market cap stands at $1.02 trillion following a 4.02% drop.
• A selloff occurred yesterday after the SEC announced that it would be banning staking.
• Yesterday’s selloff has impacted the prices of GRT, CRV, MASK, and DOGE significantly.

The global crypto market cap dropped 4.02% over the last 24 hours according to CoinMarketCap. As a result, the global crypto market cap stands at $1.02 trillion.

Arguably one of the biggest instigators for yesterday’s selloff is the SEC announcing that it will ban staking in the United States. Four cryptos that experienced significant losses as a result of the market-wide selloff are Dogecoin (DOGE), Mask Network (MASK), Curve DAO (CRV), and The Graph (GRT).

At press time, the price of DOGE is down 6.93%. This 24-hour drop in DOGE’s price has added to its negative weekly performance – taking the total to 10.72%. As a result, DOGE is now changing hands at $0.08196. When looking at MASK, the price dropped by more than 12% according to CoinMarketCap. At press time, the price of MASK stands at $3.49.

CRV also experienced a 6+% drop in price over the last 24 hours. Currently, CRV’s price stands at $0.9901. The altcoin has also weakened against the crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 3.18% and 1.56% respectively.

GRT is another crypto that experienced a loss greater than 12% over the last 24 hours. At press time, the price of GRT is down 12.65% and is currently trading at $0.1549. The altcoin also weakened against the two crypto market leaders during this time. At press time, GRT has weakened against BTC by 9.61% over the last 24 hours. Moreover, the altcoin’s price is also down by 8.14% against ETH.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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