Crypto Crash Latest News (17th June): The global cryptocurrency market cap has come down by over $100 billion since the start of the week. At the time of writing, the global crypto market cap was $893 billion, down 7 percent over the last day, according to data on CoinMarketCap at 8.37 am India time.
The crypto markets showed some signs of recovery on Thursday (June 16th) while several top coins registered gains of over 10 per cent. However, amid weak global cues and falling traditional financial markets, cryptos are also facing a downturn.
The global crypto market volume was $76 billion, down 40 percent over the last 24 hours, according to data on CoinMarketCap.
The prices of top cryptos, including Bitcoin and Ethereum, are again in the red as the market sentiments remain in the “extreme fear” zone.
Bitcoin dominance has dropped to 44 percent, according to data on CoinMarketCap, which tracks 19866 cryptos and 527 exchanges.
“Bitcoin continued to remain in a downtrend, just a tad above $20,000 and risking a fall below that level. Along with the stock markets, the crypto markets have also been following a downtrend. The daily trend for the BTC has now formed a descending channel pattern. The daily RSI has dropped below 20 for the first time since over two years(Mar’20). Bitcoin continues to remain in the oversold zone with investors considering these price levels as an opportunity to accumulate more of the token,” analysts at WazirX Trade Desk shared in a note.
Bitcoin (BTC) price has dropped by 32 percent in the last 7 days and around 8 percent in the last 24 hours. At the time of writing, BTV was trading at $20,621.
“Most cryptocurrencies fell late Thursday, tracking losses in the US equity markets. Bitcoin fell 8% after swinging between a day high at US$22,950 and a low at US$20,600 in the past 24 hours. BTC is down by nearly 56% from its year’s high at US$48,234 and 29% down in trading volume. If traders are determined, it may fall below the current level too. While on the other side, Ethereum also slipped by 10% extending its 2022 decline to more than 70%. The volatility in the market may continue for the next few weeks,” said Edul Patel Co-Founder & CEO of Mudrex.
Crypto Rupe Index Change
Crypto Rupee Index (CRE8) by CoinSwitch decreased by over 2 percent in the last one day to Rs 2188. CRE8 tracks crypto market performance in INR.
Top Crypto Prices on June 16
Ethereum (ETH): Ethereum price has decreased nearly 11 percent to $1089 in the last 24 hours. In the last 7 days, the ETH price has decreased by around 40 percent. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance Chain coin’s price decreased by around 7 percent to $214 in the last 24 hours. In the last 7 days, BNB’s price has decreased by 26 percent. It is currently ranked as the fifth biggest crypto asset in terms of market capitalisation.
XRP: XRP coin’s price decreased by 3.41 percent to $0.3364 in the last 24 hours. In the last 7 days, XRP price has decreased by 23 percent. It is currently ranked as the 8th biggest crypto in terms of market capitalisation.
Solana (SOL): Solana’s price decreased by around 11 percent to $30.53 in the last 24 hours. In the last 7 days, SOL price has decreased by 25 percent. It is currently ranked as the 9th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price fell by around 7 percent to $0.4883 in the last 24 hours. In the last 7 days, ADA price has decreased by 23 percent. It is currently ranked as the 7th biggest crypto asset in terms of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) price decreased by around 7 percent in the last 7 DAYS. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.05631.
Price of Polkadot (DOT) decreased by 13 percent to $7.23 while Avalanche (AVAX) price also fell by 10 percent to $16 in the last 24 hours. Both DOT and AVAX are currently ranked 10th and 16th respectively on CoinMarketCap. Polygon (Matic) price decreased by around by 9 per cent to $0.3903 in the last 24 hours. It is currently ranked 20th on CoinMarketCap.
Meanwhile, Tron (TRX) price has decreased by around 4 percent in the last 24 hours to $0.06154. It is currently ranked 13th on CoinMarketCap.
(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)