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Thursday, Jul 07, 2022

Cryptocurrency markets CRASH! Bloodbath in crypto tokens

Cryptocurrency markets CRASH! Bloodbath in crypto tokens

Global cryptocurrency market-cap slips to $900 billion. It's worth noting that the market cap was at $3 trillion roughly six months ago.
Cryptocurrency markets are witnessing a blood bath over the last 24 hours. The global market cap is down by 13.63 per cent in the last 24 hours and is at $901 billion as of 7:30 AM IST, CoinMarketCap data showed.

Bitcoin is down by a whopping 18.25 per cent and is trading at $21,049.

Ethereum also showed major downtrend and is at $ 1,118 after sliding down 17.49 per cent.

The USDT Tether showed no change in its value in the last 24 hours.

The USDC stablecoins showed 0.02 per cent negative change and maintained its peg at $1.

The BNB token plummeted 14.11 per cent, while Solana tumbled by a significant 8.52 per cent.

XRP Ripple is also down. It fell by 10.09 per cent in the last 24 hours.

The ADA token crashed 5.24 per cent.

Dogecoin slipped from the position of the tenth most valuable cryptocurrency by market cap after tumbling 15.17 per cent.

Stablecoin DAI is at the position of the tenth most valuable token and showed 0.02 negative change.

Overall, the majority top tokens slid drastically from their positions in the last 24 hours. The global cryptocurrency markets cap has crashed to $900 billion levels. It's worth noting that the market cap was at $3 trillion roughly six months ago at it's all time high.

Due to the crypto crash, Bitcoin 'Fear and Greed' Index has dropped to 8, indicating extreme fear.

Meanwhile, Crypto.com CEO says that the company will lay off around 260 employees, about 5 per cent of its staff due to market conditions. Moreover, Crypto lending platform BlockFi will lay off around 20 per cent of its staff due to market conditions.
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