Cryptocurrency crash- Cryptocurrency market crash has eroded the market cap which is now standing at $1.21 trillion. Big names including Solana, Cardano, Bitcoin, Ethereum, Polkadot, XRP, Dogecoin all have ended in the red.
According to data obtained from CoinMarketCap the global crypto market capital has tanked to $1.21 trillion, falling 3.61 percent over the last day and the carnage has been uniform and affected all the crypto assets regardless of their positions.
Cryptocurrency Crash Affects All Crypto Assets
The number one crypto currency Bitcoin (BTC) price has once again tanked below the psychological level of $30,000 and until last figures came in was hovering at $29,557 on global exchanges.
Bearish sentiments dominate the market and BTC values have fallen because investors have remained in the sidelines. Fear & Greed Index indicates that Bitcoin sentiments have fallen into the “extreme fear” territory.
What has become a routine, the crypto markets are closely following the conventional market sentiments and S&P 500 and NASDAQ also declined on Friday.
Cryptocurrency Crash Contracts The Cryptocurrency Market Volume By 10.89 percent
Cryptocurrency crash has precipitated the cryptocurrency market volume to tank by 10.89 percent to $61.95 billion in the past one day. The total DeFi volume stood at $5.45 billion representing 8.79 percent of the total crypto market 24-hour volume. The total Stable coins volume stood at $52.48 billion representing is 86.49 percent of the total crypto market 24-hour volume.
Bitcoin(BTC) dominance as the number one crypto asset is unchallenged at over 46 per cent for last several days. BTC continues to remain above 45 while most of the altcoins have sunk in values.
INR Crypto Market
The Crypto Rupee (INR) Index by CoinSwitch saw a fall by Rs 24.9 in the past one day and the time of writing was at Rs 3054.33. Just like the international scene the Indian crypto index is reflecting the Indian market sentiments. The index is calculated upon the performance of assets which include Bitcoin, Ethereum, Binance Coin (BNB), XRP, Cardano, Solana, Polkadot and Dogecoin.
Ethereum (ETH): Crypto market crash has led to Ethereum values tanking by 4.29 percent to $1753 in past one day. In the last 7 days, ETH values have surged by 1.38 percent in the past one week. It is now ranked as the second most valuable cryptoasset.
Binance (BNB): Crypto market crash today affected Binance Chain coin’s price also and it shrank by 3.85 percent and stood at $296.53 in the past one day. BNB values have sunk by 0.72 percent in the past one week and are ranked as fifth biggest crypto asset in terms of market capitalization.
XRP: Cryptocurrency market crash has spared no one and XRP coin’s values sunk by 5.3 percent to $0.3927 in the past one day. In the last 7 days, XRP price has contracted by 0.88 percent in the past one week and is currently ranked as 6th biggest crypto asset in terms of market capitalization.
Solana (SOL): Cryptocurrency crash affected every crypto asset and Solana price sank by a massive 12 percent to $36.2 in the past one day. SOL price has contracted by 10.88 percent in the past one week and is currently ranked as 9th biggest crypto asset in terms of market capitalization.