The bloodbath in the cryptocurrency market continued on Thursday, with Shiba Inu and Dogecoin losing 30 percent and 25 percent, respectively. Bitcoin and Ethereum traded lower by almost 9 percent and 15 percent, respectively.
The global crypto market has lost approximately $ 830 billion in market capitalization in six weeks. The global cryptocurrency market capitalization fell 12.91 percent from $ 2.07 trillion on April 2, 2022 to $ 1.24 trillion at 8:50 a.m. Thursday. However, global cryptocurrency volume rose 39.34 percent to $ 218.06 million, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $ 28,881.96, 8.93 percent lower in the last 24 hours. Ethereum (ETH) fell 14.59 percent to $ 2,052.45.
“Bitcoin fell below $ 30,000 support levels in a short period of time after the fall of US $ (UST), a US dollar-linked stablecoin. With the collapse of the well-known stablecoin and most cryptocurrency institutional investors losing money, the market is In addition to Bitcoin, other major altcoins have witnessed intense red trading. by Gaurav Dahake, CEO and founder, Bitbns.
Among other major currencies, Cardano (ADA) was down 23.39 percent at $ 0.4863, Algorand (ALGO) was trading at a loss of 27.04 percent at $ 0.4339, Binance Coin (BNB) was down 18, 42 percent to $ 262.59, Solana (SOL) was trading at a loss of 29.6 percent to $ 47.91, and Polkadot (DOT) was down 25.57 percent to $ 8.53.
The highest earner today was Metacyber (METAC), which rose 329.24 percent to $ 0.00000008982. The biggest loser was Terra (LUNA), which fell 96.42 percent to $ 0.5104.
– Outlook Business & Money (@outlookbusiness) May 12, 2022
Prices of Meme Coin and DeFi
Dogecoin (DOGE) was down 25.9 percent to $ 0.08175. Its ratio between volume and market capitalization stands at 0.247. Rival Shiba Inu (SHIB) was down 29.56 percent at $ 0.00001147.
Dogelon Mars (ELON) lost 32.66 percent at $ 0.0000467676, Floki Inu (FLOKI) lost 31.64 percent at $ 0.000007476 and Samoyed Coin (SAMO) fell 26.74 cents to $ 0.007.
In the DeFi segment, YFI (yearn.finance) was down 20.44 percent to $ 11,005.11. Terra (LUNA) was trading at a loss of 96.42 percent to $ 0.5104, Avalanche (AVAX) lost 33.47 percent to $ 29.66, Uniswap (UNI) was down 22.43 percent to trade $ 4.77 and Aave (AAVE) was trading at a loss of 26.79 percent to $ 77.83.
14 / The focus of the Earth has always been on a long-term time horizon, and another setback this May, similar to last year, will not stop #LUNAtics. Short-term stumbling blocks do not define what you can achieve.
It’s how you respond that matters.
– Do Kwon 🌕 (@stablekwon) May 11, 2022
Indian cricket team captain Rohit Sharma will launch his first non-fungible personal artwork (NFT) on the FanCraze Cricket Metaverse platform. This NFT will feature the work of art of a Rhinoceros along with its own image and will also have its autograph.
Sharma partnered with Animal Planet in 2015 to launch the ‘Rohit4Rhinos’ campaign; with this new NFT, he hopes to spread awareness about it. “It’s special for me to bring a cause so close to my heart in younger media to create awareness. We all need to work to leave behind a better world, and NFT with FanCraze will give fans the opportunity to own unique works of art and spread them. word around the # Rohit4Rhinos campaign, “he said in a statement.
In other news, AMC Theaters, a global theater chain, saw several cryptocurrencies accounting for 35 percent of total online payments in the first quarter of 2022. AMC Theaters allows people to pay for their selected purchases in cryptocurrencies like Bitcoin, Dogecoin , Shiba Inu, Ethereum. , Litecoin (LTC) and Bitcoin Cash (BCH). Click here to read more about it.