Crypto Crash Latest Update 7/1: Global cryptocurrency market cap shrinks to $870 billion

Crypto crash news today (July 1): The global cryptocurrency market cap fell to $870 billion, decreasing more than 2 per cent over the day while Bitcoin crashed to near $19,000.

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Crypto crash news today (July 1): The global cryptocurrency market cap fell to $870 billion, decreasing more than 2 per cent over the day while Bitcoin crashed to near $19,000. Prices of most of the top cryptos have dropped in the last 24 hours, according to CoinMarketCap data at the time of writing (10.54 am, India time).

The global crypto market volume over the last 24 hours increased around 22 per cent to $75.12 billion. The total volume in DeFi was $7.22 billion, representing 9.6 per cent of the total crypto market 24-hour volume. The volume of all stablecoins was 67.2 billion, 89.45 per cent of the total crypto market 24-hour volume. 

Bitcoin (BTC) dominance is now 0.31 per cent down since yesterday at 42.60 per cent. BTC price decreased by around 3 per cent in the last 24 hours. At the time of writing, BTC was trading at $19,457. In the last 7 days, BTC price has fallen by 7.4 per cent. 

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“The cryptocurrency market did not seem to react much to the European Central Bank’s comment surrounding inflation. ECB stated that inflation might remain high for the foreseeable future. However, markets remained steady and most of the top cryptos firmly held their local support levels,” Edul Patel, CEO and Co-founder of crypto investment platform Mudrex said. 

Crypto Rupe Index Change

Crypto Rupee Index (CRE8) by CoinSwitch increased 2.03 per cent in the last 24 hours to Rs 2298 at the time of writing. CRE8 tracks crypto market performance in INR. With the new 1% TDS on crypto transactions rule coming into effect from today, it would be interesting to see how Indian crypto markets perform. 

Top Crypto Prices on July 1

Ethereum (ETH): Ethereum price dropped 3 per cent to $1057 in the last 24 hours. In the last 7 days, ETH price has decreased by 8.08 per cent. It is currently ranked the 2nd largest crypto asset in terms of market capitalisation.  

Binance (BNB): Binance Chain coin’s price increased 0.58 per cent to $219 in the last 24 hours. In the last 7 days, BNB price has decreased by 5.45 per cent. It is currently ranked as the 5th biggest crypto asset in terms of market capitalisation.  

XRP: XRP coin’s price decreased by 3.4 per cent to $0.3149 in the last 24 hours. In the last 7 days, XRP price has decreased by 14.71 per cent. It is currently ranked as the 7th biggest crypto in terms of market capitalisation.  

Solana (SOL): Solana price increased slightly by 0.56 per cent to $32.6 in the last 24 hours. In the last 7 days, SOL price has decreased by 15.14 per cent. It is currently ranked as the 9th biggest crypto asset in terms of market capitalisation.  

Cardano (ADA): Cardano token’s price decreased by 2 per cent to $0.4512 in the last 24 hours. In the last 7 days, ADA price has decreased by 8.19 per cent. It is currently ranked as the 8th biggest crypto asset in terms of market capitalisation.  

Dogecoin’s (DOGE) price has decreased by around 4 per cent in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.06464.

Price of Polkadot (DOT) decreased by 3.41 per cent to $6.64. Avalanche (AVAX) price fell around 6 per cent to $16.12 in the last 24 hours. Both DOT and AVAX are currently ranked 11th and 17th respectively on CoinMarketCap. 

Polygon (Matic) price decreased by around 2 per cent to $0.4694 in the last 24 hours. In the last 7 days, MATIC has price has dropped around 22 per cent.  It is currently ranked 18th on CoinMarketCap. 

Shiba Inu (SHIB) fell nearly 2 per cent in the last 24 hours to $0.00001009. It is currently ranked 14th 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)

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