Latest Crypto Crash Updates (June 13): Investors on sale; The market value of cryptocurrency drops to $ 1 trillion

Crypto Crash News (June 13): A divestment pulls the crypto markets down. The global crypto market value fell further to $ 1.04 trillion, down more than 8% over the past 24 hours. At the time of writing, almost all major cryptocurrencies were in the red, with prices of many losing more than 11% and hitting new lows in the last 24 hours, according to data from CoinMarketCap (08:09). (Read what happened in the crypto markets on June 12 here).

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The Bitcoin (BTC) price fell by 9.14% in the last 24 hours to $ 25,638. The dominance of the top crypto decreased by almost 0.5% to 47.20% of the total crypto market. Over the past 7 days, the price of Bitcoin has fallen by 17.02%.

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Meanwhile, the total market volume of cryptocurrencies over the past 24 hours increased by 31.35% to $ 94.56 billion, indicating a massive divestment of cryptocurrencies from investors. Total DeFi volume was $ 7.76 billion, or 8.20% of total 24-hour crypto market volume. Stablecoin volume was $ 82.21 billion, or 86.94% of total 24-hour cryptocurrency market volume.

Why the crypto market is down

“A pending sale was seen over the weekend as BTC traded close to the $ 27,000 level. The Crypto-fear and Greed Index still showed a sense of ‘extreme fear’; this indicated that most investors were still extremely bearish,” said Darshan Bathija , CEO and co-founder of the crypto exchange Vauld.

“The latest US inflation figures (consumer price index) have had a negative effect on most markets. Most investors will be aware of the meeting of the US Federal Open Market Committee, which is scheduled for June 14-15. An interest rate hike from the Fed is already “Most investors fear, however, that unless inflation rates start to fall soon, the Fed is likely to have to tighten its reins at a faster pace than expected,” he added.

Modification of the Crypto Rupe Index

CoinSwitch’s Crypto Rupee (CRE8) Index fell over 18% in the last 24 hours to Rs 2,517. CRE8 tracks the performance of the crypto market in INR at the time of writing, the index has fallen by Rs 555.43 in 24 hours. In the last 7 days it has fallen over 21%. CRE8 is an Indian rupee-denominated crypto index that reflects Indian trading conditions. Learn more about CRE8 here)

Best cryptocurrency rates on June 13th

Ethereum (ETH): Ethereum price fell 7.6% to $ 1355 in the last 24 hours. In the last 7 days, the price of ETH has fallen by 27.28%. It is currently ranked as the second cryptoactive by market value.

Binance (BNB): The Binance Chain coin price fell 7% to $ 239 within the last 24 hours. Over the past 7 days, the price of GDP has fallen by 21.65%. It is currently ranked as the fifth largest cryptocurrency by market value.

XRP: The price of the XRP coin has fallen by 3.12% to $ 0.3341 in the last 24 hours. In the last 7 days, the price of XRP has fallen by 16.85%. It is currently ranked as 7th among cryptocurrencies by market value.

Solana (SOL): The Solana price fell 10.31% to $ 28.79 in the last 24 hours. In the last 7 days, the price of SOL has fallen by 29%. It is currently ranked as 9th among cryptocurrencies by market value.

Cardano (ADA): The price of the Cardano token has fallen by 10.68% to $ 0.4662 in the last 24 hours. In the last 7 days, the price of ADA has fallen by 21%. It is currently ranked 8th among cryptocurrencies by market value.

Popular memecoin price Dogecoin (DOGE) has fallen by 8% 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 $ 0.06083.

ALSO READ | What is Ethereum rate, possible trigger for yet another cryptocurrency?

The price of Polkadot (DOT) fell 9% to $ 7, while the price of Avalanche (AVAX) fell 14.33% to $ 16.09. DOT and AVAX are currently ranked 13th and 16th on CoinMarketCap, respectively. The price of Polygon (Matic) fell 8.48% to $ 0.4693 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.

Meanwhile, the price of Tron (TRX) also fell by 1.76% in the last 24 hours to $ 0.07371. It is currently ranked 13th 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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