Cryptocurrencies were a relatively new yet exceptionally prosperous sector not long ago, in 2021. The decentralised industry was previously valued at $2.96 trillion. After reaching its apex in early 2023, the first significant crypto collapse happened in January. The crypto market lost approximately $1 trillion in the first month of 2023.
From April to June of the same year, the cryptocurrency lost another trillion dollars, leaving it with a market worth of less than $900 billion. However, many supporters are still optimistic about another high surge.