Crypto Crash News Update (May 30): The global crypto market cap recovered after witnessing another round of crash in the last few days. At the time of writing, crypto market cap was $1.25 trillion, 4.43% more over the last day, data on CoinMarketCap shows.
Following a massive crash and extreme fear sentiments, crypto market has been struggling to move up for the last several weeks, stuck in the $1.20-$1.31 trillion range with experts saying recovery may be longer this time.
Meanwhile, Bitcoin (BTC) price has once again reached above $30,000, rising 4.27 per cent in the last 24 hours.
The total cryptocurrency market volume over the last 24 hours increased by 4.74 percent to $53.47 billion. The total volume in DeFi was $5.55 billion, which is 10.37% of the total crypto market 24-hour volume. Stable coins volume was $45.25 billion, which is 84.62% of the total crypto market 24-hour volume.
Bitcoin’s dominance as top crypto asset is currently at 45.25%. Overall Bitcoin price has increased by 0.04% in the last 7 days. At the time of writing, Bitcoin price was $30,102.
No trust on Luna 2.0?
“After experiencing 9 consecutive weeks of negative returns, most traders have taken a risk-off approach. Though the U.S. and global stocks rebounded and closed the week by registering their first weekly gain since late March, the same wasn’t seen in the crypto markets,” Darshan Bathija, CEO and Co-Founder of Vauld, told FE Online.
“Over the weekend, altcoins underperformed as well. Terra’s new blockchain was launched and the price of both tokens LUNA Classic and LUNA 2.0 dropped. What’s evident is that the crypto community is still visibly skeptical about the project’s reliability after the UST De-pegging debacle,” he added.
Top Crypto Prices
Several top crypto prices have increased with Cardano, Solana, Polkadot and Avalanche recovering the most. Take a look:
Ethereum (ETH): Ethereum price increased by 5.9% to $1873 in the last 24 hours. In the last 7 days, ETH price has decreased by 7.42%. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance Chain coin’s price increased by 4.5% to $315 in the last 24 hours. In the last 7 days, BNB price has decreased by 0.64%. It is currently ranked as fifth biggest crypto asset in terms of market capitalisation.
XRP: XRP coin’s price increased by 4.9% to $0.3998 in the last 24 hours. In the last 7 days, XRP price has decreased by 4.52%. It is currently ranked as 6th biggest crypto asset in terms of market capitalisation.
Solana (SOL): Solana price increased by 9.17% to $46.37 in the last 24 hours. In the last 7 days, SOL price has decreased by 10.54%. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price increased by 11.41% to $0.5111 In the last 24 hours. In the last 7 days, ADA price has decreased by 4.78%. It is currently ranked as 8th biggest crypto asset in terms of market capitalisation.
Popular memecoin Dogecoin’s (DOGE) price increased by 5.41% in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.08487.
Meanwhile, prices of Polkadot (DOT) increased by 10.24% to $10.35 while Avalanche (AVAX) increased by 14.21% to $25.55. Both DOT and AVAX are currently ranked 11th and 14th respectively on CoinMarketCap. Polygon (Matic) price increased by 7.39% to $0.6206 in the last 24 hours. It is currently ranked 17th 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 making any investment decision)
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