In the first week of 2022, the crypto market witnessed a turnaround as $200 Billion Evaporated From Crypto Markets.

The total market capitalization for the digital asset industry has slumped 8% over the past 24 hours. The market cap fell below $2.1 trillion for the first time in the last three months.

All major cryptocurrencies took a sharp U-turn, ahead of the proposed interest rate hike by the US Federal Reserve.

Bitcoin dropped below $43000 after seeing a drop of more than 9%.

Ethereum dropped below $3400 after a drop of more than 10% in a single day.

Binance Coin dropped below $480 after a drop of more than 12% in a single day.

Solana also dropped below $150 after a drop of more than 15%.

Cardano and XRP also dropped more than 10% taking the price below $1.30 and $0.80 on a red day.

Terra LUNA, Shiba Inu, Dogecoin also witnessed a drop of more than 10%.

Disclaimer: Cryptogurukul has no relationship to these projects, and there is no endorsement or investment advise. Please seek professional advice before taking financial risks.