Crypto Crash News and Top Cryptocurrency Prices Today in India (May 19, 2022): The international crypto market cap continued to shrink additional within the final 24 hours amid a prevailing sentiment of “extreme fear”. At the time of writing, international crypto market cap dropped to $1.24 trillion from the $1.29 trillion recorded on Wednesday, as per knowledge on CoinMarketCap. Bitcoin worth has additionally crashed to under $29,000 stage.
The international cryptocurrency market quantity over the past 24 hours elevated by 3.44% to $80.00 billion. The whole quantity in DeFi was $7.31 billion, which is 9.12% of the entire crypto market 24-hour quantity. Stable cash quantity was $70.33 billion, which is 87.68% of the entire crypto market 24-hour quantity.
Bitcoin worth dropped under the $29,000 stage, falling 3.35 p.c within the final 24 hours.
Meanwhile, Bitcoin’s dominance as prime crypto asset continues at round 44.85%. Overall Bitcoin worth has elevated by 1.36% within the final 7 days.
More buyers to promote Bitcoin?
Altcoins are performing worse than Bitcoin within the present market crash, indicating a decrease urge for food for threat amongst crypto merchants.
Experts say {that a} spike within the variety of Bitcoins on exchanges has been observed, indicating there may be additional unload of the highest crypto.
“BTC’s price dropped below the $29,000 level, while ETH’s price slid below $2000 over the last day. Alongside this dip, data revealed a spike in the supply of Bitcoin on exchanges. Usually, investors send their Crypto holdings to exchanges with the intention of selling,” Darshan Bathija, CEO and Co-Founder of Vauld, advised FE Online.
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Explaining the explanation behind present market crash, he mentioned, “The effects of US Federal Reserve Chair Jerome Powell’s latest comments on adding pressure and taking ‘aggressive’ measures to address inflation were seen in the markets. Just a day after his comments, S&P 500 and Nasdaq indexes had dropped. As the traditional markets priced in the scenario, a risk-off sentiment took hold of the markets. Owing to BTC’s high correlation with the S&P, the cyryptomarkets slid down the charts, in lockstep with the equities markets.”
Top Crypto Prices
Meanwhile, most of the prime crypto costs fell additional within the final 24 hours. Take a glance:
Ethereum (ETH): Ethereum worth decreased by 5.29% to $1957 within the final 24 hours. In the final 7 days, ETH worth has decreased by 3.55%. It is at present ranked second largest crypto asset by way of market capitalisation.
Binance (BNB): Binance coin’s worth decreased by 2.95% to $295 within the final 24 hours. In the final 7 days, BNB worth has elevated by 13.2%. It is at present ranked as fifth largest crypto asset by way of market capitalisation.
XRP: XRP coin’s worth decreased by 2.53% to $0.4085 within the final 24 hours. In the final 7 days, XRP worth has elevated by 4.45%. It is at present ranked as sixth largest crypto asset by way of market capitalisation.
Solana (SOL): Solana worth decreased by 10.15% to $50 within the final 24 hours. In the final 7 days, SOL worth has elevated by 6.21%. It is at present ranked as ninth largest crypto asset by way of market capitalisation.
Cardano (ADA): Cardano token’s worth decreased by 8% to $0.5209 In the final 24 hours. In the final 7 days, ADA worth has elevated by 7.47%. It is at present ranked as eighth largest crypto asset by way of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) worth dropped by 6.23% within the final 24 hours. DOGE is at present ranked tenth by way of market capitalisation. The worth of DOGE on the time of this report was $0.08376.
Meanwhile, costs of Polkadot (DOT) and Avalanche (AVAX) declined by 9.26 and 11.87 per cent within the final 24 hours respectively. DOT and AVAX are at present ranked eleventh and thirteenth on CoinMarketCap. Polygon (Matic( worth crashed by over 10% to 0.6377 within the final 24 hours. It is at present ranked seventeenth on CoinMarketCap.
(Cryptos and different digital digital property are unregulated in India. They are thought-about extraordinarily dangerous for funding. Please seek the advice of your monetary advisor earlier than making any funding resolution)
Source: www.financialexpress.com”