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Crypto Market Cap Falls Below $1T for First Time Since Early 2021
Bitcoin lost some 13% of its value in the past 24 hours.
Updated May 11, 2023, 6:41 p.m. Published Jun 13, 2022, 10:11 a.m.
The market capitalization for cryptocurrencies fell by some 12% in the last 24 hours to nearly $970 billion on Monday morning, data from CoinMarketCap shows.
- A similar capitalization was previously seen in January 2021, data shows. In the past 24 hours, bitcoin lost 13% while ether slid 17%.
- Bitcoin dominance increased to over 47% over the weekend, suggesting investors held bitcoin and risked off from alternative cryptocurrencies.
- The fall came amid a decline in global stocks after poor U.S. consumer price index data for May was released last week. Inflation rocketed to over 8.3% on a year-on-year basis, denting investor sentiment.
- Bitcoin has declined for nearly 12 straight weeks, marking one of the asset’s biggest slides in its lifetime.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bitcoin Treads Water Near $90K as Bitfinex Warns of 'Fragile Setup' to Shocks
BTC's relative weakness compared to stocks points to tepid spot demand, making the largest crypto vulnerable to macro volatility, Bitfinex analysts said.
What to know:
- Bitcoin erased very modest overnight gains early Monday and spent the rest of the U.S. session in a tight range around the $90,000 level.
- Rising long bond yields and a small U.S. equities pulling back weighed on risk appetite as traders eye this week's Federal Reserve meeting.
- Bitfinex analysts pointed out bitcoin's relative weakness against U.S. stocks amid modest spot demand and structural softness.
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