Crypto-currencies from Bitcoin to Ether to Solana are either setting or approaching their lowest levels of the year.
The MVIS CryptoCompare Digital Assets 100 Index declined 4.9%, bringing the drawdown for the year to almost 50%.
Bitcoin, which accounts for almost half the index, slumped for the fourth day.
Ether breached an earlier low set at the start of May after the collapse of the Terra blockchain.
Popular DeFi tokens such as Solana and Cardano fell even more.
While crypto prices have been dropping since early November, when Bitcoin reached its all-time high, the declines accelerated after the collapse of the TerraUSD (UST) stablecoin and related Luna cryptocurrency that resulting in losses of tens of billions of market value.
The market is also digesting bad economic news, which has hit tech stocks.
Data released last night on US consumer prices showed inflation continues to accelerate.
This report’s information was first seen on Bloomberg; to read more, click this link.