What happened The crypto sell-off continued today, as investors continued to shun riskier assets amid high levels of inflation and the Federal Reserve’s ongoing tightening of its monetary policy. The entire cryptocurrency market recently lost $200 billion in a single day. Over the last 24 hours, the price of the world’s largest cryptocurrency, Bitcoin (BTC -2.04%), traded down roughly 2.5% as of 12:57 p.m. ET. The price of Bitcoin is currently hovering below $30,000. The… Source link

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Bitcoin and other cryptocurrencies have crashed further as a massive sell-off continues to roil the cryptocurrency market. The price of bitcoin was around $28,000 on Thursday, down about 7 percent over the last 24 hours, according to data from CoinGecko. Both bitcoin and its rival, ethereum, are down about 30 percent in the past seven days. Ethereum was trading at about $1,908 on Thursday, down about 18 percent over the last 24 hours. This comes after the TerraUSD stablecoin, also known as… Source link

HONG KONG / LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank… Source link

Tomiwabold Olajide Ethereum whales have been actively transacting ETH in the last 24 hours at a pace last seen in January According to on-chain analytics firm Santiment, Ethereum whales have been actively transacting ETH in the last 24 hours at a pace last seen in January. According to the chart provided by Santiment, Ethereum whales fired off a total of 2,956 transactions, each valued at $1 million or more on May 11, marking the highest day of whale transactions in nearly five months.

Text size “Memecoins” like Dogecoin and Shiba Inu have plunged amid the recent crypto selloff. Igorigorevich/Dreamstime.com … Source link

The world’s second largest cryptocurrency Ethereum has joined the cryptocurrency crash – plummeting in value by 20 per cent over the last 24 hours – as the digital currency downturn hammers investors who bought during the Covid years. Cryptocurrencies have sharply declined in value during the past few days as fears for the global economy spread and investors start to sell off risky assets. However investors in more traditional stocks are also hurting, with US tech stocks also plunging in… Source link

As much as markets are going through it right now, cryptocurrencies are really going through it, and the myriad disasters haven’t abated just yet. Fortunes have been lost. Memes have been deflated. Normal people have had to learn what it could possibly mean that El Salvador is “buying the dip.” What does it mean? What’s going on with Bitcoin? Stablecoins, huh?? Let me catch you up. Bitcoin Blowout Let’s start with the biggest boy. On Monday, Bitcoin sharply plunged in… Source link

matejmo/iStock via Getty Images Bitcoin (BTC-USD) has been bleeding for months due to tight liquidity conditions and targeted selling of high beta technology stocks. Low interest rates since the global financial crisis in 2008 have led markets to reach extreme valuations. Now, the decade-long bubble has popped, and assets are moving back to reality. For most of Bitcoin’s existence, it has benefited from low interest rates. With rates now rising, Bitcoin’s price is suffering from the… Source link

What happened  The news in the crypto market continued to get worse after Tuesday’s de-peg of TerraUSD (UST -6.08%) from the U.S. dollar, as well as the drop in Bitcoin (BTC -7.11%). This has effectively caused a cascade of selling and has led to outright panic in some circles. And even the most useful crypto assets are down big Wednesday.  At noon ET, the value of Ethereum (ETH -11.20%) had fallen 3.6% in the prior 24 hours, Solana (SOL -28.58%) had dropped 19.9%, and… Source link