Crypto Crash Latest News (June 13): A massive selloff appears to be pulling down the crypto markets. The global crypto market capitalization has crashed below the $1 trillion mark to 977 billion, down about 12 percent in the last one day. At the time of writing, nearly every top crypto was in the red with prices of many losing up to 17 percent and hitting new lows in the past 24 hours, according to CoinMarketCap data (3.49). (Read here what happened in crypto markets on June 14).
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Bitcoin (BTC) price has fallen by more than 10 percent in the last 24 hours to $24,760. The top crypto’s dominance decreased by almost 0.36 percent to 47.25 percent of the total crypto market. In the last 7 days, Bitcoin price has fallen by 20.86 percent.
Meanwhile, total cryptocurrency market volume increased by 27 percent to $110 billion over the past 24 hours, indicating massive selling of crypto holdings by investors. The total volume in DeFi was $8.66 billion, which is 7.83 percent of the total crypto market 24-hour volume. Stable coin volume was $97.88 billion, which is 89 percent of the total crypto market 24-hour volume.
Why crypto market is falling
“A continued sell-off was seen over the weekend as BTC fell to the $24,000 level. The crypto Fear and Greed Index continued to show an ‘extreme fear’ sentiment; this indicated that most investors remained extremely bearish ,” said Darshan Bathija, CEO and co-founder of crypto exchange Vauld.
“The recent inflation figures (consumer price index) seen in the US have had a negative effect on most markets. Most investors will be paying close attention to the US Federal Open Market Committee meeting scheduled for June 14 and 15. An interest rate hike by the Fed has already been priced in; however, most investors are concerned that unless inflation numbers begin to decline soon, the Fed will likely have to tighten at a faster pace than expected,” he added. (See how the top 100 crypto prices fell in 24 hours here)
Crypto Rupee Index Change
Crypto Rupee Index (CRE8) by CoinSwitch has fallen over 18 percent in the last one day to Rs 2507. CRE8 tracks crypto market performance in INR at the time of writing, the index was down Rs 567.16 in 24 hours. In the last 7 days, it has fallen by about 22 percent. CRE8 is an Indian Rupee denominated crypto index that reflects Indian market conditions. Read more about CRE8 here)
Top Cryptocurrency Prices on June 13th
Ethereum (ETH): Ethereum price has fallen 13 percent to $1277 in the last 24 hours. In the last 7 days, ETH price has fallen by 33 percent. It is currently the second largest crypto asset in terms of market capitalization.
Binance (BNB): Binance Chain coin’s price fell 10 percent to $232 in the last 24 hours. In the last 7 days, BNB price has fallen by 25 percent. It is currently ranked as the fifth largest crypto asset in terms of market capitalization.
XRP: XRP coin’s price has fallen by 8 percent to $0.3214 in the last 24 hours. In the last 7 days, XRP price has fallen by 20 percent. It is currently ranked as the 7th largest crypto in terms of market capitalization.
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Solana (SOL): Solana price is down about 16 percent to $27 in the last 24 hours. In the last 7 days, SOL price has fallen by 36 percent. It is currently ranked as the 9th largest crypto asset in terms of market capitalization.
Cardano (ADA): Cardano token price fell 13 percent to $0.4504 in the last 24 hours. In the last 7 days, ADA price has fallen by 30 percent. It is currently ranked as the 8th largest crypto asset in terms of market capitalization.
Popular memecoin Dogecoin (DOGE) price has fallen by 14 percent in the last 24 hours. DOGE is currently 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.05694.
ALSO READ | What is Ethereum, possible trigger for another crypto crash?
Polkadot (DOT) price fell 12 percent to $6.75 while Avalanche (AVAX) price fell 17 percent to $15.6. Both DOT and AVAX are currently ranked 13th and 16th respectively on CoinMarketCap. Polygon (Matic) price has fallen by 15 percent to $0.439 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.
Meanwhile, Tron (TRX) price also fell by 15 percent in the last 24 hours to $0.06395. 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 taking any investment decision)
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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