Crypto markets have fallen below $2 trillion total capitalization in a massive double-digit crash, the likes of which have not been seen for at least a year.
The ISM services report is also due, which will provide economic indicators for service based on surveys of supply management professionals. Changes in ISM and PMI reports often precede changes in the wider economy. “There’s a lot of events that are occupying people’s attention right now, from political conventions to the election itself to the Olympics,” commented Amazon’s chief financial officer, Brian Olsavsky.Crypto markets have dumped a further $280 billion over the past 12 hours resulting in a daily slump of around 13%.
Ethereum fared even worse, tanking a whopping 21% on the day to $2,200, its lowest level since January.
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