Top cryptocurrency prices on March 8: Crypto market largely down; Bitcoin slips nearly 1%

Major cryptocurrencies traded in the red early on March 8 as the global crypto market cap decreased 1.01 percent to $1.02 trillion, over the last day. The total crypto market volume over the last 24 hours stands at $44.28 an increase of 27.59 percent.

The total volume in DeFi is currently $3.67 billion, which is 8.28 percent of the total crypto market 24-hour volumes. Volume of all stable coins is at $40.77 billion, which is 92.08 percent of the total crypto market 24-hour volumes. Bitcoin’s dominance is currently 42.17 percent, registering a fall of 0.06 percent over the day.

The fall in the crypto market follows a sharp pullback seen in the US stock market after United States Federal Reserve chair Jerome Powell issued concerning statements about interest rates and high inflation.

The crypto market is no stranger to volatility, and generally sharp price moves are seen ahead of the release of key economic data reports and the Federal Reserve’s announcement on monetary policy and interest rate hikes.