The bloodbath continues in the cryptocurrency market; Sheba Inu crashes 30%, Doge 25%, Ethereum 15%

The bloodbath in the cryptocurrency market continued on Thursday, with Shiba Inu and Dogecoin losing 30 percent and 25 percent, respectively. Bitcoin and Ethereum are trading down about 9 percent and 15 percent, respectively.

The global crypto market lost nearly $830 billion in market capitalization within six weeks. The global cryptocurrency market cap fell 12.91 percent from $2.07 trillion on April 2, 2022 to $1.24 trillion at 8.50 a.m. Thursday. However, global crypto volume rose 39.34 percent to $218.06 billion, according to Coinmarketcap data.

Cryptocurrency rates

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $2,8881.96, down 8.93 percent over the past 24 hours. Ethereum (ETH) collapsed 14.59 percent to $2,052.45.

“Bitcoin dropped below the $30,000 support levels for a short period, after the fall of TerraUSD (UST), a stablecoin pegged to the US dollar. With the collapse of the well-known stablecoin and the majority of institutional investors losing money, the market is in for a frenzy. Bitcoin, other altcoins have seen trading in deep red Market leader indicates oversold levels, upside appears limited A short price rally may occur, but a strong break is not expected, says Gaurav Dahake, CEO and founder of Bitbns .

Among other major coins, Cardano (ADA) is down 23.39 percent at $0.4863, Algorand (ALGO) is trading with a 27.04 percent loss at $0.4339, Binance Coin (BNB) is down 18.42 percent at $262.59, Solana (trading SOL) with a loss of 29.6 percent at $47.91, and Polkadot (DOT) stock was down 25.57 percent at $8.53.

The biggest gainer today was Metacyber (METAC), which rose 329.24 percent at $0.00000008982. The biggest loser was Terra (LUNA), which fell 96.42 percent at $0.5104.

#OutlookCrypto | #cryptocurrency The market loses nearly $830 billion of its value in 6 weeks.

More about #MemeCoin & # Davy Prices along with your daily #cryptoupdate hereTweet embed#cryptocurrency#cryptotrading#CryptoNewshttps://t.co/fdzcgbU3AH pic.twitter.com/nWojtvrnFF

Outlook Business & Money (@outlookbusiness) 12 May 2022

Meme Coin and DeFi prices

Dogecoin (DOGE) was down 25.9 percent at $0.08175. Its volume to market capitalization ratio is 0.247. Rival Shiba Inu (SHIB) stock was down 29.56 percent at $0.00001147.

Dogelon Mars (ELON) lost 32.66 percent to trade at $0.0000004676, Floki Inu (FLOKI) lost 31.64 percent at $0.000007476, and Samoyed Coin (SAMO) stock fell 26.74 percent at $0.007114.

In the DeFi sector, YFI (yearn.finance) was down 20.44 percent at $1,005.11. Terra (LUNA) traded with a loss of 96.42 percent at $0.5104, Avalanche (AVAX) lost 33.47 percent at $29.66, Uniswap (UNI) was down 22.43 percent to trade at $4.77, and Aave (AAVE) was trading with a loss of 26.79 at cent at $77.83.

14 / Terra’s focus has always been on a long-term time horizon, and another setback in May, similar to last year, will not prevent #LUNAtics. Short-term setbacks don’t determine what you can achieve.

How you respond is what matters.

– Do Kwon 🌕 (stablekwon) May 11 2022

Latest updates

India’s cricket captain Rohit Sharma will release the first personal Non-fungible Artwork (NFT) on the FanCraze Cricket Metaverse. NFT will display this unicorn artwork with its own image and will also get it autographed.

Sharma partnered with Animal Planet in 2015 to launch the “Rohit4Rhinos” campaign; With this new NFT, he hopes to spread awareness about the same. “It is special for me to take an issue so close to my heart to newer means of raising awareness. We all need to work to leave a better world behind, and NFT with FanCraze will give fans the opportunity to own unique artwork and spread the word about the #Rohit4Rhinos campaign.”

In other news, AMC Theaters, a global theater chain, saw multiple cryptocurrencies accounting for 35 percent of all online payments in the first quarter of 2022. AMC Theaters allow people to pay for their select purchases in cryptocurrencies such as Bitcoin, Dogecoin, and Shiba Inu, Ethereum, Litecoin (LTC), and Bitcoin Cash (BCH). Click here to read more about it.