The prices of top cryptocurrencies plummeted this week as fears of a broad economic recession increased.
The total market cap of Cryptocurrencies fell below $850 billion on Saturday.
The price of ether has fallen below the $1,000 price barrier for the first time in over a year. In November of last year, it was all-time-high. After a weeks-long plunge in the value of the currency, it fell below $20,000 for the first time.
While investors in top coins worry, smaller ecosystems are dealing with major hits as well as backers worry about the survival of token and ecosystems that are still young at the edge of a bear market There are 44 token that have a market cap of $1 billion or more.
The Federal Reserve is trying to curb inflation and investors are afraid of that. With the rapid depreciation of assets threatening a number of core protocols and services, some worry that the inter-dependence of these various services could cause cascading shutdowns.
As Celsius accelerates the crypto sell-off, who pays the price?
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