Will The Inflation Catch Up On The Crypto Currency?
Bitcoin is falling slightly, which may be due to mounting fears about releasing US inflation data, causing most altcoins to fall even harder, a sign that they are still seen as riskier than bitcoin. The total market cap of all cryptocurrencies is down 3.8% in the past 24 hours to $913 billion.
Ethereum drops 7.5%
Ethereum was looking to hold out at $1,150 yesterday, but it didn’t look very stable already. However, the ether price lost traction here by midnight, before dropping to around $1,090 where the price briefly found support. However, ether also fell through this morning, and now stands at $1,058 with which the price is no less than 7.5% today.
TRX, XRP, SOL in the minus
Tron is holding out the strongest today and is ‘just’ 2.1% in the min with a price of $0.65. However, the Binance coin (BNB) already plunged 4.3% last night to $222. Ripple actually fell 4.9% in the past 24 hours and now stands at $0.312. Solana made a significant plunge early in the night and is also down 4.9% today with a price of $33.5.
AVAX, ADA, DOT fall faster
Avalanche plunged falling as much as 5.5% to $17.6. Cardano has continued to decline steadily for the past 24 hours and is down a whopping 5.9% with a price of USD 0.43. Polkadot plunged 6.1% and now stands at USD 6.4.
DOGE and SHIB fall the hardest
The two-meme cryptos are the hardest fallers among the largest crypto today, and also a sign of rising fears among private investors. Dogecoin (DOGE) is down 7% below $0.061 and Shiba Inu (SHIB) is even down 7.8% to $0.0000102.