Crypto Market Cap Slides to $2.7T as October Losses Mount

The total cryptocurrency market capitalization dropped from roughly $3 trillion to $2.7 trillion during October, marking a decline of about 10% for the month.

Bitcoin fell 3.3% in the final week of October, bringing its year-to-date decline to around 11%, according to figures cited by Bitcoin.com News.

Ethereum also faced sustained selling pressure, losing more than 15% over the past 30 days as weakness spread across the wider digital-asset market.

The market had already shed tens of billions of dollars before the Binance-related hack referenced in the report, indicating that the downturn was underway before that event.