Key Points
The crypto market cap has seen a significant decrease of more than 8% as major tokens struggle to recover from a recent crash.
Data from crypto.news indicates that the top five tokens by market cap have not yet bounced back from the market crash that occurred on February 24.
This has led to an approximately 8.8% drop in the overall crypto market cap in the past 24 hours, reducing the total to $2.73 trillion.
Market Performance of Major Tokens
TradingView data reveals that at the start of February, the total crypto market cap was at $3.1 trillion.
However, it plunged on February 24 to as low as $2.5 trillion.
Since then, the market cap has not managed to return to the $3 trillion mark, suggesting that the market has not yet recovered from the crash.
Major tokens like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB) and Solana (SOL) are still feeling the impact of the market crash.
Price drops among these top coins range from over 10% to around 7%, not including stablecoins USDT and USDC.
In the last 24 hours, Ethereum has seen a nearly 11% drop.
Currently, the second largest cryptocurrency by market cap is trading at $2,091.
ETH’s market cap has dropped 10.8% to $252 trillion.
Solana has experienced a more significant drop, declining over 11% in the past day.
SOL is currently trading at $126.29, which is more than a 50% drop from its previous all-time high of $293.31.
Solana’s market cap has decreased by 11% to $62 trillion.
XRP has followed the market’s downward trend, declining 10.5% in the past day and nearly 25% in the past week.
The Ripple Labs token is currently trading at $1.99, with its market cap falling 10.3% to $115 trillion.
Among the major tokens, Binance Coin has suffered the least, with BNB decreasing by 7.4% to $570.20 in the past 24 hours.
BNB has decreased by 12.7% in the past week.
BNB’s market cap currently sits at $83 trillion, having decreased by 7.3%.
Please note that this article is for educational purposes only and does not constitute investment advice.