The encryption market has plummeted across the board, with a total market capitalization falling below $2.2 trillion. Bitcoin has dropped to $55,752, a 5.51% decrease in the past 24 hours, while Ethereum has dropped to $2,907, a 10% decrease in the past 24 hours. Digital currencies such as W, BAKE, JTO, RDNT, and MAV have also declined accordingly.