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Jun 12,2023

BNB and Shiba Inu both lose up to 5% as Bitcoin drops below $25,900

Prior to important inflation statistics later in the day, the cryptocurrency markets on Monday were trading in a choppy manner. Trading saw increases for Bitcoin, XRP, Cardano, and Polygon while losses were seen for Ethereum, BNB, Solana, and Shiba Inu.

Ethereum (ETH) was trading below the $1,750 mark while Bitcoin (BTC) increased 0.28% to $25,864.

The US Fed's decision to stop rate hikes has not yet prompted a response from the cryptocurrency market. Note that the US Fed has raised interest rates by 500 basis points since beginning its fight against inflation in order to keep the economy from potentially entering a recession.

The most recent rate hike-related development may have a beneficial impact on the cryptocurrency market in the next weeks, but the true comfort will come if interest rates are reduced to increase market liquidity.

The market capitalization of all cryptocurrencies was down about $1.05 trillion, or 0.12% over the previous day.

Over the weekend, there was intense selling pressure on cryptocurrency markets. Since yesterday, the crypto fear and greed index, which has a score of 47 points, has remained in the neutral zone. This may be related to the SEC's continuing legal actions against Binance and Coinbase, which have caused a significant loss of deposits in these exchanges.

Currently, DeFi has 1.9 billion in total volume, which is 7% of the 24-hour volume of the entire crypto market. All stablecoin volume is currently $25.15 billion, or 94% of the 24-hour volume of the whole crypto market.

The largest cryptocurrency in the world by market cap, Bitcoin, was valued at almost $501 billion. BTC volume was around $11.55 billion, down 24% in the previous day. Currently, Bitcoin has a 47% market share, up 0.21% from the previous day, according to CoinMarketCap.

Bitcoin Price Today | $25,864 

Ethereum Price Today | $1,741 

Tether Price Today | $1.00 

BNB Price Today | $225 

XRP Price Today | $0.514 

Cardano Price Today | $0.2764 

Dogecoin Price Today | $0.6084 

Polygon Price Today | $0.6328 

Solana Price Today | $15.19 

Litecoin Price Today | $76.44

Polkadot Price Today | $4.5 

Tron Price Today | $0.06982 

Avalanche Price Today | $11.43 

Shiba Inu Price Today | $0.000006584 

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