As per data from CoinMarketCap as of 14:00 IST, even top crypto tokens like Bitcoin, Ethereum, Cardano, and Solana felt the hit of the crash.
Memecoins like Dogecoin and Shiba Inu also felt the hit.
Sharat Chandra, crypto expert and Vice President, Research and Strategy at EarthID told Business Today that this dip in prices should be taken as an opportunity to buy.
Chandra further explained how stablecoins have stood their ground where Bitcoin and altcoins started plummeting.
Vikram Subburaj, CEO of Giottus Crypto Exchange told Business Today, “Crypto markets are going to be volatile until investors, who are currently risk-off, turn to risk-on mode.
He said, “Investors will be better off to stack cash and wait for signals of a reversal before allocating fresh capital to crypto.
Sathvik Vishwanath, co-founder, and CEO of Unocoin crypto exchange said that the current cues are worrisome only for short-term investors and long-term investors need to worry about the market blues.