CoinGecko: The crypto market decline in early August is not one of the most severe market corrections in the past decade.
ChainCatcher news, CoinGecko posted on social media that although the recent four-day decline has caused the total cryptocurrency market capitalization to drop from $2.44 trillion on August 2 to $1.99 trillion on August 6, this decline is not one of the most severe market corrections in the past ten years, as the daily decline is less than 10%. Historical data shows that the most severe correction in the global cryptocurrency market occurred on March 13, 2020, affected by the panic of the COVID-19 pandemic, when the cryptocurrency market plummeted 39.6%. The total cryptocurrency market capitalization plummeted from $223.74 billion to $135.14 billion (DoD), in comparison, the largest sell-off this year occurred in March, with a decline of 8.4%.
