CoinGecko: The largest single-day drop in cryptocurrency market capitalization in 2024 is 8.4%

ChainCatcher news, according to CoinGecko statistics, the largest single-day drop in cryptocurrency market capitalization in 2024 was 8.4%, occurring on March 20. Although there was a recent consecutive decline of 4 days, which caused the total cryptocurrency market capitalization to shrink from $2.44 trillion on August 2 to $1.99 trillion on August 6, these declines are not significant enough to be considered a market correction.

At the same time, the largest single-day pullback experienced by the global cryptocurrency market in the past decade occurred during the Covid-19 crash on March 13, 2020, with a drop of 39.6%, as massive sell-offs led to a plummet in total cryptocurrency market capitalization from $223.74 billion to $135.14 billion.