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Crypto Market Crash Update: BTC, LUNA, ANC, Tank Down Hard!

Crypto Market update

CRYPTO PRICES TODAY 

Price Trend  Price for April 25, 2022  Percentage change 
The global cryptocurrency market cap  $1,407,053,304,960
The total crypto market volume $149,547,716,298
Bitcoin Price $31,158.24 0.69%
Ethereum Price  $2,376.85 0.40%

*All prices are latest by 10:45, 11 May 2022.

Check out the Latest Prices, Charts, and Data of your favorite coin.

Top Crypto Prices:

Solana (SOL/USDT): Solana’s price decreased by 2.20% in the last 24 hrs. In the last 7 days, SOL’s price has decreased by 21.36%. It is currently ranked within the top 10 cryptos, at number 7 by Market capitalization. 

TerraUSD (UST): Terra’s price decreased by 12.16% in the last 24 hrs. In the last 7 days, UST’s price has decreased by 23.78%. It is currently ranked at 11 by Market capitalization. 

Bitcoin (BTC/USDT): Bitcoin’s price increased by 0.96% in the last 24 hrs. In the last 7 days, BTC’s price has decreased by 16.94%. It is currently ranked number 1 by Market capitalization. 

Ethereum (ETH/USDT): Ethereum’s price increased by 0.50% in the last 24 hrs. In the last 7 days, ETH’s price has decreased by 14.54%. It is currently ranked number 2 by Market capitalization. 

Crypto Market Crash Update: BTC, LUNA, ANC, Tank Down Hard!

Bitcoin continues to slash hard as the prices remain beneath INR 24 lakhs with a significant drop of 1.5% compared to the previous day’s close. While the LUNA suffers a massive loss of 56.80% as the prices crash towards INR 1155 at the press time dropping hard from INR 5000. UST & Anchor Protocol also have been deeply impacted as the stablecoin slumps to INR 60 and ANC crashes to INR 32.15 with a drop of 49.3%

Additional Read: LUNA or AVAX: Which Token may ignite recovery first?

TOP GAINERS AND LOSERS TODAY

TOP 3 CRYPTO GAINERS

Crypto Price* Percentage Change
Pheonix Global (PHB) INR 14.71  55.88%
Maker (MKR) INR 1,05,157.22 9.70%
Flow (FLOW) INR 317.23 6.61%

*All prices are latest by 11:15, 11  May 2022.

TOP 3 CRYPTO LOSERS

Crypto Price* Percentage Change
Terra (LUNA) INR 910.76 -60.70%
Anchor Protocol (ANC) INR 34.42 -49.29%
Mirror Protocol (MIR) INR 49.32 -13.29%

*All prices are latest by 11:15, 11  May 2022.

NEW COIN LISTING ON COINDCX 

New Coin Market Capitalization Circulating Supply
Storj (STORJ/INR) $254,070,241 389,834,787.61 STORJ
STEPN (GMT/INR) $1,024,192,361 600,000,000.00 GMT
Audius (AUDIO/INR) $424,383,865 713,381,683.00 AUDIO
JasmyCoin (JASMY/INR) $69,585,501 4.75B JASMY

*All prices are latest by 11:15, 11  May 2022.

3 Reasons Behind the Recent Crypto Market Crash

The crypto price moves can be affected by various reasons like interest rates, inflation, and other factors that can affect how confident people feel about investing their money in alternative assets. The crypto ecosystem is experiencing drawdowns in 2022 as the crypto market has been bracing for action from the U.S. government on multiple fronts. 

Some of the major factors that have led to the recent market crash are:

  • Fed Interest Rate Hike: According to Yahoo Finance analysis, the raised interest rates by half a percentage point last week by the Federal Reserve have Wall Street responded with a stock slump.
  • Cooling of Institutional Interest: 2021 has been a year full of institutions taking up chunks of crypto assets for their reserves. Cutting to this year, the institutions are more inclined towards taking action as per the market behavior, according to Moya, the senior market analyst at Oanda.
  • Bull Bear Cycles: The value of the crypto assets is determined by the market alone and if the value of a certain token is going up, it is simple to decrease in value after a certain point. If the supply of a token increases than the demand, the value will be low and vice versa. These market corrections have had a few occurrences since the inception of Bitcoin and if the previous crashes are to be analyzed, it might take till the beginning of 2023 for the crypto market to crawl back up.

Additional Read: 6 Reasons Behind the Recent Crypto Market Crash

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