The global crypto market cap has crashed by 8.49 per cent at $1.71 trillion, according to Coinmarketcap data, in what appears to be 2022's biggest single-day loss till now. All major cryptocurrencies were trading with heavy losses. The crypto trading volume jumped by 87.59 per cent at $126.15 billion, which suggests the enactment of liquidation protocol by exchanges might have already started.