Inflation, potential interest rate hikes, a looming recession, and yet another DeFi fiasco have all contributed to the current onslaught seen in markets on Monday. As a result, Bitcoin‘s (BTC) price plunged to levels not seen since late 2020, several crypto exchanges limited users from withdrawing their tokens, an increasing number of Web3-centric companies announced layoffs, and the floor prices of various nonfungible token (NFT) projects tumbled.
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