Cryptocurrency Update – May 18, 2022

Global crypto market cap again crashed to $1.28 trillion from the $1.31 trillion recorded on Monday.

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Insight bureau: The global crypto markets remain bearish amid a prevailing sentiment of “extreme fear”.  Global crypto market cap again crashed to $1.28 trillion from the $1.31 trillion recorded on Monday.

Bitcoin price has again crashed to below $30,000 level. The global cryptocurrency market volume over the last 24 hours decreased by 11.39% to $77.44 billion. The total volume in DeFi was $7.66 billion, which is 9.89% of the total crypto market 24-hour volume. Stable coins volume was $67.5 billion, which is 87.16% of the total crypto market 24-hour volume.

Bitcoin price dropped below the $30,000 level to $29,844 mark, falling 1.74 percent in the last 24 hours. Meanwhile, Bitcoin’s dominance as top crypto asset continues at around 44.2%.

1. Ethereum (ETH): Ethereum price decreased by 1.27% to $2043 in the last 24 hours. In the last 7 days, ETH price has decreased by 13.57%. It is currently ranked second largest crypto asset in terms of market capitalization.

2. Binance (BNB): Binance coin’s price  decreased by 2% to $300 in the last 24 hours. In the last 7 days, BNB price has decreased by 5.7%. It is currently ranked as fifth biggest crypto asset in terms of market capitalization.

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3. XRP: XRP coin’s price decreased by 1.44% to $0.4291 in the last 24 hours. In the last 7 days, XRP price has decreased by 16.93%. It is currently ranked as 6th biggest crypto asset in terms of market capitalization.

4. Solana (SOL): Solana price increased by 0.04% to $55.61 in the last 24 hours. In the last 7 days, SOL price has decreased by 16.57%. It is currently ranked as 8th biggest crypto asset in terms of market capitalization.

5. Cardano (ADA): Cardano token’s price decreased by 1.64% to $0.5619 In the last 24 hours. In the last 7 days, ADA price has decreased by over 10%. It is currently ranked as 7th biggest crypto asset in terms of market capitalization.

6. Popular memecoin Dogecoin’s (DOGE) price dropped by 0.9% in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalization.

7. Prices of Polka dot (DOT) and Avalanche (AVAX) declined by 4.13 and 2.26 per cent in the last 24 hours respectively. DOT and AVAX are currently ranked 11th and 12th on Coinmarketcap.

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