Data: The crypto market drop in early August was not one of the worst market corrections in the past decade

According to Golden Finance, CoinGecko posted on the X platform that although the decline in the past four days has caused the total market value of cryptocurrencies to fall from US$2.44 trillion on August 2 to US$1.99 trillion on August 6, this decline is not one of the worst market corrections in the past decade, as the daily decline is less than 10%.

Historical data shows that the worst correction in the global cryptocurrency market occurred on March 13, 2020, when the crypto market plunged 39.6% due to the panic caused by the COVID-19 pandemic. The total market value of cryptocurrencies plummeted from $223.74 billion to $135.14 billion (DoD). In contrast, the biggest sell-off this year occurred in March, with a drop of 8.4%.