Crypto Crash News Update (May 19): World’s largest cryptocurrency prices fall up to 12%; Altcoins are bleeding

Crypto Crash News and Top Cryptocurrency Prices Today in India (May 19, 2022): Global cryptocurrency market value has continued to shrink over the last 24 hours amid “extreme fears”. At the time of writing, the global crypto market value has dropped to $ 1.24 trillion from $ 1.29 trillion recorded on Wednesday, according to data from CoinMarketCap. The Bitcoin price also fell below the $ 29,000 level.

The volume of the global cryptocurrency market over the past 24 hours increased by 3.44% to $ 80.00 billion. Total DeFi volume was $ 7.31 billion, or 9.12% of total 24-hour crypto market volume. Stablecoin volume was $ 70.33 billion, or 87.68% of total 24-hour cryptocurrency market volume.

The Bitcoin price fell below the $ 29,000 level and fell by 3.35% within the last 24 hours.

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More investors to sell Bitcoin?

Altcoins outperform Bitcoin in the current market crash, indicating a lower risk appetite among crypto traders.

Experts say that an increase in the number of Bitcoins on exchanges has been noticed, indicating that there may be further sales of the best crypto.

“The BTC price fell below the $ 29,000 level, while the ETH price fell below $ 2,000 over the last day. Along with this fall, the data revealed an increase in the supply of Bitcoin on exchanges. Usually investors send their Crypto holdings to exchanges with the intention to sell, ”Darshan Bathija, CEO and co-founder of Vauld, told FE Online.

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Explaining the reason for the current market meltdown, he said: “The effects of the recent comments from US Federal Reserve Chairman Jerome Powell on increasing pressure and taking ‘aggressive’ measures to combat inflation have been observed in the markets. Just a day after his comments, S&P As the traditional markets assessed the scenario, a sense of risk aversion gripped the markets.

Best crypto prices

Meanwhile, many of the best cryptocurrencies have fallen further over the last 24 hours. So:

Ethereum (ETH): Ethereum price fell 5.29% to $ 1957 in the last 24 hours. In the last 7 days, the price of ETH has fallen by 3.55%. It is currently ranked as the second cryptoactive by market value.

Binance (BNB): The Binance coin price fell 2.95% to $ 295 within the last 24 hours. Over the past 7 days, the price of BNB has risen by 13.2%. It is currently ranked as the fifth largest cryptocurrency by market value.

XRP: The price of the XRP coin has dropped by 2.53% to $ 0.4085 within the last 24 hours. In the last 7 days, the price of XRP has increased by 4.45%. It is currently ranked 6th among cryptocurrencies by market value.

Solana (SOL): The Solana price fell by 10.15% to $ 50 within the last 24 hours. Over the past 7 days, the price of SOL has increased by 6.21%. It is currently ranked as 9th among cryptocurrencies by market value.

Cardano (ADA): The price of the Cardano token fell 8% to $ 0.5209 over the last 24 hours. In the last 7 days, the price of ADA has increased by 7.47%. It is currently ranked 8th among cryptocurrencies by market value.

Popular memecoin price Dogecoin (DOGE) has fallen 6.23% in the last 24 hours. DOGE is currently ranked 10th in terms of market value. The price of DOGE at the time of this report was $ 0.08376.

Meanwhile, prices of Polkadot (DOT) and Avalanche (AVAX) have fallen by 9.26% and 11.87% respectively in the last 24 hours. DOT and AVAX are currently ranked 11th and 13th on CoinMarketCap. The price of Polygon (Matic) has dropped over 10% to 0.6377 in the last 24 hours. It is currently ranked # 17 on CoinMarketCap.

(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investments. Please contact your financial advisor before making any investment decision)

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