The cryptocurrency market is coming out deep red for the weekend. Bitcoin (BTC) is now 11% in the minus today and many altcoins are falling even harder. It is slowly starting to look like one of the toughest days for the crypto market in years. Total market cap is down 11% to $1.04 trillion.
Daily Market overview.
Market cap: $1.08T -6.32%⬇️
SPOT Volume 24h: 45.27B +24.5%⬆️💡$BTC dominance: 44.61% -1.39%⬇️
Fear & Greed Index: 11😱extreme fear sentiment. Most projects in loss🔴#Bitcoin $BTC $ETH #Ethereum
— IT Tech (@IT_Tech_PL) June 13, 2022
Ethereum drops 15.5%
Ethereum (ETH) again takes a harder blow than bitcoin. It’s a sign that investors are still finding altcoins more risky in this one risk off situation than the mother of all cryptocurrencies. The ether price made a small bounce yesterday afternoon and climbed back above $1,500, but then continued its decline. Ether prices briefly found support around $1,360 early this morning, but just fell through that as well. ETH stands at $1,245 at the time of writing and is down as much as 15.5% today.
— glassnode alerts (@glassnodealerts) June 13, 2022
XRP, SHIB, DOT, ADA deep in red
Ripple (XRP) holds out slightly stronger than the rest today, but is still plummeting 10.5% to $0.315. Binance coin (BNB) is down 12.3% and now stands at $227. Shiba inu (SHIB) is already down 13.3%, dropping to $0.0000077 this morning. Polkadot (DOT) is down 13.5% and currently stands at $6.7. Cardano (ADA) is down a whopping 14.2% and is now falling below USD 0.45.
DOGE, TRX, SOL, AVAX fall even harder
Dogecoin (DOGE) is already up 17.4% and is currently falling to $0.055. tron (TRX) also plummets this time and is 16.1% in the minus and comes out at $0.062. However, Solana (SOL) is a staggering 17.9% in the red, dropping to $27.2 this morning. Avalanche (AVAX) is once again the biggest loser among the biggest crypto. AVAX is down 19.6% and is down to $15.2.
With this, AVAX must make room for leo token (LEO) in the list of top 10 largest altcoins (without stablecoins). LEO made a big bounce this morning, bringing the price back to the same price as 24 hours ago.
Crypto top 100 hardest fallers
The rest of the top 100 is unfortunately also a bloodbath. Most crypto are more than 10% in the minus and a very large part even more than 15%. For apecoin (APE), polygon (MATIC), zilliqa (ZIL), enjin (ENJ), sandbox (SAND), elrond (EGLD), synthetix (SNX), maker (MKR) and stacks (STX) that is already 17% . Axie infinity (AXS), aave (AAVE) and chainlink (LINK) is even 18%.
Waves (WAVES) and near (NEAR) drop by 19%, thorchain (RUNE) by 20%, fantom (FTM) by 24% and nexo (NEXO) even by 27%. Celsius Network (CEL) is down no less than 55% today.
†@CelsiusNetwork is pausing all withdrawals, Swap, and transfers between accounts. Acting in the interest of our community is our top priority. Our operations continue and we will continue to share information with the community. More here: https://t.co/CvjORUICs2
— Celsius (@CelsiusNetwork) June 13, 2022
In fact, it looks like Tron founder Justin Sun’s USDD stablecoin, a copy of TerraUSD (UST), is currently running into the same problem as UST. More articles on CEL and USDD will follow later today on Crypto Insiders.
Funding rate of shorting #TRX on @binance is negative 500% APR. @trondaoreserve will deploy 2 billion USD to fight them. I don’t think they can last for even 24 hours. Short squeeze is coming. pic.twitter.com/VRExM6UK70
— HE Justin Sun 🅣🌞🇬🇩 (@justinsuntron) June 13, 2022
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— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) June 13, 2022
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