Latest Crypto Crash Updates (June 13): Investors On Sale; Cryptocurrency Market Cap Falls To $1 Trillion

Crypto Crash News (June 13): A sell-off drags the crypto markets down. The global crypto market cap slumped further to $1.04 trillion, down more than 8% in the past day. At the time of writing, almost all major cryptos were in the red, with the prices of many losing more than 11% and hitting new lows in the past 24 hours, according to data from CoinMarketCap (8:09 am). (Read what happened in the crypto markets on June 12 here).

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Bitcoin (BTC) price fell 9.14% in the past 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 decreased by 17.02%.

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Meanwhile, the total cryptocurrency market volume in the past 24 hours increased by 31.35% to $94.56 billion, indicating a massive sell-off in crypto holdings by investors. Total DeFi volume was $7.76 billion, or 8.20% of the total 24-hour crypto market volume. The stablecoin volume was $82.21 billion, or 86.94% of the total 24-hour crypto market volume.

Why the Crypto Market is Down

“A pending selloff was seen over the weekend as BTC traded near 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 crypto exchange Vauld.

“Recent US inflation (consumer price index) figures have had a negative effect on most markets. Most investors will be paying attention to the US Federal Open Market Committee meeting scheduled for June 14-15. An interest rate hike by the Fed is already priced in; However, most investors fear that unless inflation numbers start to decline soon, the Fed will likely have to tighten the reins at a faster pace than expected,” he added.

Changing the Crypto Rupe Index

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

Best cryptocurrency prices on June 13

Ethereum (ETH): Ethereum price fell 7.6% to $1355 in the past 24 hours. In the past 7 days, the price of ETH has decreased by 27.28%. It is currently ranked the second crypto asset by market capitalization.

Binance (BNB): The Binance Chain coin price declined by 7% to $239 in the past 24 hours. Over the past 7 days, the price of BNB has decreased by 21.65%. It is currently ranked the fifth largest crypto asset by market capitalization.

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

Solana (SOL): Solana price decreased by 10.31% to $28.79 in the last 24 hours. In the past 7 days, the price of SOL has decreased by 29%. It is currently ranked 9th among crypto assets by market capitalization.

Cardano (ADA): The price of the Cardano token declined by 10.68% to $0.4662 in the past 24 hours. In the last 7 days, the price of ADA has decreased by 21%. It is currently ranked 8th among crypto assets by market capitalization.

Popular memecoin price Dogecoin (DOGE) is down 8% in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.06083.

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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 respectively on CoinMarketCap. Polygon (Matic) price fell 8.48% to $0.4693 in the past 24 hours. It is currently ranked 18th on CoinMarketCap.

Meanwhile, the price of Tron (TRX) also declined by 1.76% in the past 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 investment. Please consult your financial advisor before making any investment decision)

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Latest Crypto Crash Updates (June 13): Investors On Sale; Cryptocurrency Market Cap Falls To $1 Trillion


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