CoinGecko posted on the X platform that although the recent four-day decline caused the total cryptocurrency market capitalization to fall from $2.44 trillion on August 2 to $1.99 trillion on August 6, this decline is not one of the worst market corrections in the past decade, as the daily decline is less than 10%. Historical data shows that the worst correction in the global cryptocurrency market occurred on March 13, 2020, affected by the COVID-19 pandemic scare, when the crypto market plunged 39.6%. The total cryptocurrency market capitalization plummeted from $2237.4 billion to $135.14 billion (DoD), compared to the largest sell-off of the year, which occurred in March, with a decline of 8.4%.