The cryptocurrency market recently took a significant hit. In the last 24 hours, the overall market cap dropped nearly 8.8% to about $2.73 trillion, and the five largest tokens by market cap have not yet bounced back from the February 24 crash.

At the start of February, the total market cap was around $3.1 trillion, but it fell as low as $2.5 trillion following the crash. Even though there has been some recovery, the market still has not reached the $3 trillion mark.

Bitcoin is now trading below $80,000 and has lost about 3.79% of its value. Ethereum, the second-largest cryptocurrency, fell nearly 11% in the past day and is currently around $2,091, with its market cap declining by about 10.8%. XRP experienced a drop of around 10.5% in the last day and nearly 25% over the past week, trading at about $1.99 with a market cap of roughly $115 trillion.

Binance Coin was not as severely affected, dropping about 7.4% in the past 24 hours to approximately $570.20, with a week-long decrease of 12.7% and a market cap around $83 trillion. Solana faced one of the steepest declines, initially showing a change of about 6.05% but later falling over 11% in the past day. It is now trading at around $126.29, which is more than a 50% drop from its previous all-time high of $293.31, and its market cap has decreased to roughly $62 trillion.

Data from TradingView shows that after a strong start in early February, the market suffered a steep decline on February 24 and has been struggling to recover ever since. The inability to climb back to the $3 trillion threshold highlights the uncertainty and volatility that investors are currently facing.

These recent movements serve as a reminder of the unpredictable nature of the cryptocurrency market as it works to recover from the recent downturn.