Crypto Crash News and Top Cryptocurrency Price Today in India (May 19, 2022): The global crypto market cap is set to shrink further in the last 24 hours amid the prevailing feeling of “extreme fear”. At the time of writing, the global crypto market cap has dropped to $ 1.24 trillion from $ 1.29 trillion recorded on Wednesday, according to data from CoinMarketCap. Bitcoin has also fallen below দাম 29,000.
The volume of the global cryptocurrency market has increased by 3.44% to $ 80.00 billion in the last 24 hours. DeFi had a total volume of 7.31 billion, which is 9.12% of the total crypto market 24-hour volume. The amount of stable coins was $ 70.33 billion, which is 87.68% of the total crypto market 24-hour volume.
Bitcoin has fallen below $ 29,000, down 3.35 percent in the last 24 hours.
Meanwhile, the dominance of Bitcoin as the top crypto asset continues at around 44.85%. Overall bitcoin prices have risen 1.36% in the last 7 days.
More investors to sell Bitcoin?
Altcoins are performing worse than Bitcoin in the current market crash, indicating a reduced appetite for risk among crypto traders.
Experts say a spike in the number of bitcoins on the exchange has been noticed, indicating that the top crypto may sell more.
“BTC has fallen below $ 29,000, while ETH has fallen below $ 2000 on the last day. In addition to this decline, the data exchange has revealed a spike in the supply of bitcoin. Typically, investors send their crypto holdings for the purpose of selling on the exchange, ”Darshan Bathija, CEO and co-founder of Vault, told FE Online.
Also read | May 18 Crypto Crash Update
Explaining the reasons for the current market crisis, he said: “The recent remarks by US Federal Reserve Chair Jerome Powell on adding pressure to market inflation and taking ‘aggressive’ action have had an impact on the market. Exactly one day after his remarks, the S&P 500 and Nasdaq indices fell. As the price of the traditional market situation, a risk-off feeling gripped the markets. Due to BTC’s high correlation with S&P, cryptocurrency markets have fallen below the lockstep chart with the equity market. ”
Top crypto prices
Meanwhile, many top crypto prices have fallen further in the last 24 hours. Let’s see:
Etherium (ETH): In the last 24 hours, the price of Etherium has decreased by 5.29% to $ 1957. In the last 7 days, ETH price has decreased by 3.55%. It is currently the second largest cryptocurrency market in terms of market capitalization.
Binance (BNB): Binance Coin has fallen 2.95% to $ 295 in the last 24 hours. In the last 7 days, the price of BNB has increased by 13.2%. It is currently the fifth largest crypto asset in terms of market capitalization.
XRP: The price of XRP coin has dropped by 2.53% to 40 0.4085 in the last 24 hours In the last 7 days, XRP price has increased by 4.45%. It is currently ranked as the 6th largest crypto asset in terms of market capitalization.
Solana (SOL): In the last 24 hours, the price of Solana has decreased by 10.15% to $ 50. In the last 7 days, SOL price has increased by 6.21%. It is currently the 9th largest crypto asset in terms of market capitalization.
Cardano (ADA): Cardano token price has dropped 8% to 20 0.5209 in the last 24 hours. In the last 7 days, the ADA price has increased by 7.47%. It is currently ranked as the 8th largest crypto asset in terms of market capitalization.
Popular memecoin Dogecoin (DOGE) prices have dropped 6.23% in the last 24 hours. DOGE is currently in tenth place in terms of market capitalization The DOGE was valued at $ 0.08376 at the time of this report.
Meanwhile, prices of Polkadot (DOT) and Avalanche (AVAX) have declined by 9.26 and 11.87 percent, respectively, in the last 24 hours. DOT and AVAX are currently ranked 11th and 13th in CoinMarketCap. Polygon (price) has dropped more than 10% in the last 24 hours to 0.6377. It is currently ranked 17th in CoinMarketCap.
(Cryptos and other virtual digital assets are unregulated in India. They are considered highly risky to invest in. Please consult your financial advisor before making any investment decision.)