Crypto Crash News June 7: The prices of many top cryptos have fallen again in the past 24 hours, while the global crypto market capitalization has fallen to $1.22 trillion, down 4.52% in the last day, according to data from CoinMarketCap at the time of writing (09:25).
Bitcoin (BTC) price is back in the red and below the $30,000 level, down 5% in the last 24 hours. At the time of writing, the price of Bitcoin on global exchanges was $29,603.
Total cryptocurrency market volume in the past 24 hours increased by 54% to $81.64 billion. Total DeFi volume was $6.48 billion, or 8% of the total 24-hour crypto market volume. The stablecoin volume was $70.27 billion, or 86.07% of the total 24-hour crypto market volume.
Meanwhile, Bitcoin’s dominance as the number one crypto asset declined slightly by 0.09% during the day to 46.35%.
Bitcoin has fallen to US$29,000 in the past 24 hours after posting nearly 4% growth on Sunday. BTC has been trading in a narrow range of US$29,000 and US$31,000 and is struggling to break above the US$31,000 level.
“BTC is currently down about 35% from its all-time high. The current drop is due to Bitcoin miners liquidating their holdings as mining has become less profitable lately. We could see volatility in the market for a few more days,” said Edul Patel, co-founder and CEO of crypto investment platform Mudrex.
Changing the Crypto Rupe Index
CoinSwitch’s Crypto Rupee Index (CRE8), which tracks the performance of the crypto market in INR, declined by Rs 11.72 in the past 24 hours. At the time of writing, the index was at Rs 3063. CRE8 is an Indian rupee-denominated crypto index reflecting Indian trading conditions. Learn more about CRE8 here)
Best Crypto Prices June 6
Ethereum (ETH): Ethereum price fell 6.38% to $1756 in the past 24 hours. Over the past 7 days, the price of ETH has decreased by 11.84%. It is currently ranked the second crypto asset by market capitalization.
Binance (BNB): The Binance Chain coin price decreased by 7.42% to $284.47 in the last 24 hours. Over the last 7 days, the price of BNB has decreased by 11.33%. It is currently ranked the fifth largest crypto asset by market capitalization.
XRP: The price of the XRP coin has decreased by 3.64% to $0.3887 in the last 24 hours. In the past 7 days, the price of XRP has decreased by 7.15%. It is currently ranked 7th among cryptocurrencies by market capitalization.
Solana (SOL): Solana price fell 5.33% to $39.55 in the past 24 hours. Over the past 7 days, the price of SOL has decreased by 16.92%. It is currently ranked 9th among crypto assets by market capitalization.
Cardano (ADA): The price of the Cardano token declined by 4.96% to $0.6216 in the past 24 hours. In the past 7 days, the price of ADA has increased by 0.88%. It is currently ranked 6th among crypto assets by market capitalization.
The popular memecoin price Dogecoin (DOGE) has declined by 4.55% in the past 24 hours. DOGE is currently ranked 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.07927.
The price of Polkadot (DOT) fell 7.53% to $9.08 while Avalanche (AVAX) fell 9.83% to $23.83. DOT and AVAX are currently ranked 11th and 15th respectively on CoinMarketCap. Polygon (Matic) price decreased by 5.06% to $0.5939 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.
Meanwhile, the price of Tron (TRX) also declined by 4.17% in the past 24 hours to $0.07976. 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)
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Crypto Crash Breaking News Today 6/7: Top Cryptocurrency Prices – Bitcoin, Ethereum, Polkadot to Avalanche Drop Up to 11%
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