Crypto Crash News 7th June: Prices of many top cryptos once again decreased in the last 24 hours while the global crypto market cap shrunk to $1.22 trillion, down 4.52 percent over the last day, according to CoinMarketCap data at the time of writing (9.25 am).
Bitcoin (BTC) price is once again in the Red and below the $30,000 level, down 5 percent in the last 24 hours. At the time of writing, Bitcoin price on global exchanges was $29,603.
The total cryptocurrency market volume over the last 24 hours increased by 54 percent to $81.64 billion. The total volume in DeFi was $6.48 billion, which is 8 percent of the total crypto market 24-hour volume. Stable coins volume was $70.27 billion, which is 86.07 percent of the total crypto market 24-hour volume.
Meanwhile, Bitcoin’s dominance as the number one crypto asset fell marginally by 0.09 percent over the day to 46.35 percent.
Bitcoin dipped to US$29,000 in the past 24 hours after witnessing nearly 4% growth on Sunday. BTC has been trading in a tight range of US $29,000 and US $31,000 and is struggling to break above the US $31,000 level.
“BTC is currently about 35% down from its all-time high record. The current drop is due to Bitcoin miners liquidating their holdings as mining has become less profitable in recent times. We may see volatility in the market for some more days,” Edul Patel, co-founder and CEO of crypto investment platform Mudrex said.
Crypto Rupe Index Change
The Crypto Rupee Index (CRE8) by CoinSwitch, which tracks crypto market performance in INR, has decreased by Rs 11.72 in the last 24 hours. At the time of writing, the index was at Rs 3063. CRE8 is an Indian Rupee denominated crypto index reflecting Indian marketing conditions. Read more about CRE8 here)
Top Crypto Prices on June 6
Ethereum (ETH): Ethereum price dropped by 6.38 percent to $1756 in the last 24 hours. In the last 7 days, ETH price has decreased by 11.84 percent. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance Chain coin’s price decreased by 7.42 percent to $284.47 in the last 24 hours. In the last 7 days, BNB price has decreased by 11.33 percent. It is currently ranked as fifth biggest crypto asset in terms of market capitalisation.
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XRP: XRP coin’s price decreased by 3.64 percent to $0.3887 in the last 24 hours. In the last 7 days, XRP price has decreased by 7.15 percent. It is currently ranked as 7th biggest crypto in terms of market capitalisation.
Solana (SOL): Solana price fell by 5.33 percent to $39.55 in the last 24 hours. In the last 7 days, SOL price has decreased by 16.92 percent. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price decreased by 4.96 percent to $0.6216 In the last 24 hours. In the last 7 days, ADA price has increased by 0.88 percent. It is currently ranked as 6th biggest crypto asset in terms of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) price decreased by 4.55 percent in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.07927.
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Price of Polkadot (DOT) decreased by 7.53 percent to $9.08 while Avalanche (AVAX) fell by 9.83 percent to $23.83. Both DOT and AVAX are currently ranked 11th and 15th respectively on CoinMarketCap. Polygon (Matic) price decreased by 5.06 percent to $0.5939 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.
Meanwhile, Tron (TRX) price has also decreased by 4.17 percent in the last 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)