Crypto Market Crash?
The cryptocurrency market has crashed to a new low this year. The global cryptocurrency market has continued its bearish trend on Tuesday as well, the global market has shrunk to 896 billion from 1.1 trillion in the last four days, and this has happened for the first time since January last year. Increasing inflation fears have prompted investors to dump risky assets.
The number of crypto liquidations has been very high since Friday. Bitcoin has fallen down below $21000, indicating the low-risk appetite of the investors. The second-biggest currency Ethereum has fallen to its 2-year lowest and is down almost 15% in the last 24 hours and is currently trading at $1064. Bitcoin and mostly every cryptocurrency have dipped over the last few days because of the massive sell-off.
The global market has been bearish since the Terra (LUNA) has been dumped and being delisted from the major exchanges, federal reserve hiking the interest rates for the last few months has also triggered the global market. Mostly every cryptocurrency has also dipped over the last few days because of the data showing US inflation hitting a 40-year high.
Amid the brutal blood bath, some cryptocurrencies have managed to be in green, like — UMA, USD Coin, etc.
The total volume in DeFi stood at $10.43 billion, 6.98 percent of the total crypto market 24-hour volume. The volume of all stable coins was $133.37 billion, which is 89.24 percent of the total crypto market’s 24-hour volume.
Top 10 cryptocurrencies and their prices today.
Bitcoin (BTC) $20,621.90 or 14.28 percent loss in the last 24 hours
Ethereum (ETH) $1,062.96 or 14.92 percent loss in the last 24 hours
Tether (USDT) $0.998–5 or 0.04 percent loss in the last 24 hours
USD Coin $1.00 or 0.02 percent loss in the last 24 hours
Binance coin (BNB) $207.12 or 9.53 percent loss in the last 24 hours
Cardano (ADA) $0.4705 or 1.09 percent loss in the last 24 hours
Ripple (XRP) $0.3061 or 5.26 percent loss in the last 24 hours
Dogecoin (DOGE) $0.05218 or 8.6 percent loss in the last 24 hours
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