Crypto Crash Latest News (15th June): The volatile global cryptocurrency markets have suffered one of the worst crashes of the last two years as traders continue to sell. The prices of top cryptos, including Bitcoin and Ethereum, have taken big hits in the ongoing crash while the market sentiments remain in the “extreme fear” zone.
The global crypto market cap has fallen below the $900 billion mark to $896 billion while Bitcoin dominance is at 44.7 percent, according to data on CoinMarketCap at the time of writing (11 am, India time). CoinmarketCap tracks 19866 cryptos and 527 exchanges.
At the time of writing, most of the top cryptos were in the Red, losing again after record falls over the last two days. Bitcoin (BTC) price has dropped 31% in the last seven days. In the last 24 hours, BTC price has decreased by 8 percent to $21,129.
Will cryptos fall more?
“Prior to the US Fed rate hike decision, most markets were in the red. Many market participants now expect a 75bp hike, and will likely be listening closely to how the Fed plans to move ahead.Data from Glassnode also shows that exchange inflow increased over the past two days; once again this indicates fearful market sentiment as most investors are selling and exiting the markets,” Darshan Bathija, CEO and Co-Founder of Vauld, told FE Online.
Some experts think that cryptos may rise if the gains persist.
“On Tuesday, Bitcoin fell to the US$20,000 range for the first time since December 2020 but rose slightly in the past 24 hours. The recent decline comes as traders prepare for the Federal Reserve’s two-day meet-up with rise in inflation levels. BTC will need some time to recover from the huge losses it sustained. The recent surge in value might help recover from the previous losses if the gains are consistent,” Edul Patel Co-Founder and CEO of crypto investment platform Mudrex said.
Crypto Rupe Index Change
Crypto Rupee Index (CRE8) by CoinSwitch fell 26.5 percent in the last day to Rs 2259. CRE8 tracks crypto market performance in INR the time of writing, the index was down by Rs 815 in 24 hours. CRE8 is an Indian Rupee denominated crypto index reflecting Indian marketing conditions. Read more about CRE8 here)
Top Crypto Prices on June 13
Ethereum (ETH): Ethereum price has fell again by around 9 in the last 24 hours to $1121. In the last 7 days, ETH price has decreased by 38 percent. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance Chain coin’s price decreased by 8 percent to $210 in the last 24 hours. In the last 7 days, BNB price has decreased by 27 percent. It is currently ranked as fifth biggest crypto asset in terms of market capitalisation.
XRP: XRP coin’s price decreased by 6 percent to $0.304 in the last 24 hours. In the last 7 days, XRP price has decreased by 24 percent. It is currently ranked as 8th biggest crypto in terms of market capitalisation.
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Solana (SOL): Solana price decreased by 8 percent to $28 in the last 24 hours. In the last 7 days, SOL price has decreased by 29 percent. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price decreased by 7 percent to $0.4582 In the last 24 hours. In the last 7 days, ADA price has decreased by 30 percent. It is currently ranked as 7th biggest crypto asset in terms of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) price decreased by 35 percent in the last 7 DAYS. DOGE is currently ranked 11th in terms of market capitalisation. The price of DOGE at the time of this report was $0.05211.
Price of Polkadot (DOT) decreased by 2 percent to $7.18 while Avalanche’s (AVAX) price fell by 9 percent to $15.32 in the last 24 hours. Both DOT and AVAX are currently ranked 10th and 16th respectively on CoinMarketCap. Polygon (Matic) price fell by 12 percent to $0.3859 in the last 24 hours. It is currently ranked 20th on CoinMarketCap. Meanwhile, Tron (TRX) price has decreased by 20 percent in the last 24 hours to $0.05044. 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)