Crypto crashes below $1 trillion

The crypto market is officially in free fall, sliding below $1 trillion in value for the first time since January 2021

Reaching a low of $926 billion is a stark difference from its peak of 2.9 trillion in November 2021.

In the last two months alone, the total market value has dropped by 1 trillion, with investors moving increasingly away from riskier assets.

This comes off the back of inflation fears and concerns interest rate raises by central banks will only hamper growth.

The world’s largest crypto, Bitcoin was down over 10 per cent, dipping to an 18-month low of just over $23,000.

Experts say the digital currencies are falling victim to the flight away from unstable assets.