The worldwide cryptocurrency market crashed to $1.10 trillion, down by over 8 percent since the past one day. Almost every top crypto is losing its value and many losing over 10 percent in the last 24 hours.
Image Source: https://www.bbc.com/news/business-60870100
The total cryptocurrency market volume has increased by 26.51 per cent in the last 24 hours to $84.33 billion. This indicates that cryptocurrency holders are selling their currency. Crypto market performance by Indian Rupee is measured by Crypto Rupee Index ( CRE8 ) which declined by 4.58 percent throughout the day. Currently, the CRE8 is at Rs.2711.
PRICE DECLINE IN ALL CRYPTOCURRENCIES
Bitcoin (BTC) price has declined by 6.29 percent in the last 24 hours to $27,454. However, for Bitcoin investors the top crypto’s dominance has gone up by nearly 1 percent to 47.66 percent of the total crypto market. In the last 7 days, the Bitcoin price has decreased by 7.71 percent.
Ethereum, an open-source blockchain that is second only to bitcoin in the cryptocurrency market in terms of market capitalization. It has also been losing its value. Its price has dropped by 12.58 percent to $1460 in the last 24 hours.
Binance (BNB) is the largest cryptocurrency in the world in terms of the daily trading volume of cryptocurrencies. BNB`s price decreased by $256.83 in the past one day while in the last 7 days, its price went down by 13.75 percent. It is the fifth-largest cryptocurrency in terms of market capitalization.
The digital asset XRP was created to be the most practical cryptocurrency for usage across the financial services space by the company, Ripple. Its price declined by 10.15 percent to $0.3466 in the past 24 hours. In the past week, XRP price has come down by 11.56 percent. It has a current rank as the 8th largest crypto asset in terms of market capitalization.
Solana is best known as a competitor to Ethereum, the second-largest blockchain project by market capitalization. zudayogaeast.com Like Ethereum, Solana offers a way to build decentralized applications, which are similar to normal apps like Twitter and Robinhood, but with the help of blockchains, there are no intermediaries.
It has a current rank of 9thas the biggest crypto asset in the market. Solana’s price decreased by 12.82 percent to$32.58 in the past 24 hours. In the past week, its price has fallen down by 16.32 percent.
OTHER POPULAR CRYPTOCURRENCIES
Cardano is a proof-of-stake blockchain platform. It is the first cryptocurrency to be founded on peer-reviewed research and developed through evidence-based methods. Cardano is a blockchain platform for changemakers, innovators, and visionaries. Its price decreased by 9.06 percent in the past seven days and by 13.64 percent to $0.513 in the last 24 hours. Its current rank in terms of market capitalization is 7th.
Dogecoin is a cryptocurrency created by two software engineers called Billy Markus and Jackson Palmer. They decided to create a payment system as a “joke”, as a satire on the wild speculation in cryptocurrencies at the time. It is both the first “meme coin”, and, in specific, the first “dog coin”. In the last 24 hours, the price decreased by 13.45 percent. It has a current rank of 10th in terms of market capitalization.
THE MEME CRYPTOCURRENCY: DOGECOIN
Image Source:https://dogecoin.fandom.com/wiki/Dogecoin
SOME MORE CRYPTOCURRENCIES
The price of Polkadot (DOT), currently ranked 11th, came down by 12.85 percent to $7.62. Another crypto, Avalanche (AVAX) ranked 16th, its price declined by 17.72 percent to $18.68.. Polygon (Matic) price decreased by 14 percent to $0.5175 in the last 24 hours. It is currently ranked 18th. Tron (TRX) price has also decreased by 6.05 percent in the last 24 hours to $0.07499. It has a current rank of 13th.
