“Appetite for risk assets continued to fall with Asia-based tech stocks seeing a capital flight of $63 billion this year. Crypto assets which typically have a high correlation with tech stocks also plummeted, with bitcoin headed for its ninth-straight weekly loss. Global growth concerns spurred by rising interest rates and supply chain disruptions were the dominant themes within investor narratives, with many leaning towards capital preservation during these volatile times. That said, we remain optimistic on crypto’s longer term growth trajectory, and the immense potential it has to revolutionise the way we live, work, and play,” said the CoinDCX research team.
Bitcoin finally breached the $30,000 levels, after weeks of being below it. Bitcoin price today was standing at $30,594.73 at the time of writing this article. This was a gain of 5.49 per cent over the last 24 hours.
“Bitcoin climbed up by nearly 3 per cent since yesterday to edge above the $30K level. Bitcoin has closed lower for the 9th week in succession. On the 4-hourly time-frame, the BTC trend has broken out of the triangle pattern. The next resistance for BTC is expected at $40,000. The daily RSI for Bitcoin has cropped up over the 40 level for the first time since the start of May’22. The market sentiment for Bitcoin and crypto, however, continues to remain in the “extreme fear” zone,” said the WazirX trade desk.
Ethereum price today was still below the $2,000 mark but gained 6.56 per cent over the past 24 hours to stand at $1,902.85 per unit, at the time of writing this article. After a weekend of underperforming, Solana and Cardano among other altcoins gained over 10 per cent each.
“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,” said Darshan Bathija, CEO and co founder of Vauld.
Here are the top 10 cryptocurrencies and their prices on May 30, 2022, Monday (data from coinmarketcap.com)
Bitcoin $30,594.73 or 5.49 per cent gain in the last 24 hours
Ethereum $1,902.85 or 6.56 per cent loss in the last 24 hours
Tether $0.9992 or 0.01 per cent gain in the last 24 hours
USD Coin $1.00 or 0.00 per cent loss in the last 24 hours
BNB $319.51 or 6.27 per cent gain in the last 24 hours
XRP $0.4012 or 4.56 per cent gain in the last 24 hours
Binance USD $1.00 or 0.04 per cent loss in the last 24 hours
Cardano $0.519 or 11.54 per cent gain in the last 24 hours
Solana $46.86 or 10.45 per cent loss in the last 24 hours
Dogecoin $0.08575 or 5.67 per cent gain in the last 24 hours
Read all the Latest News , Breaking News and IPL 2022 Live Updates here.