Crypto Crash News Update (May 30): The global crypto market capitalization has soared after witnessing another round of crashes in recent days. At the time of writing, crypto’s market cap was $1.25 billion, up 4.43% from the past day, according to data from CoinMarketCap.
After a massive crash and extreme anxiety, the crypto market has struggled for several weeks to move higher, stalling in the $1.20-1.31 billion range, with experts saying the recovery could take longer this time around.
Meanwhile, the price of Bitcoin (BTC) hit more than $30,000 again, up 4.27% in the past 24 hours.
The total cryptocurrency market volume has increased by 4.74% in the past 24 hours to $53.47 billion. Total DeFi volume was $5.55 billion, or 10.37% of total 24-hour crypto market volume. The stablecoin volume was $45.25 billion, or 84.62% of the total 24-hour crypto market volume.
Bitcoin’s dominance as the leading crypto asset is currently 45.25%. The total price of Bitcoin is up 0.04% in the past 7 days. At the time of writing, Bitcoin price was $30,102.
Don’t trust Luna 2.0?
“After experiencing 9 consecutive weeks of negative returns, most traders have taken a risk-free approach. While US and global stocks recovered and closed the week with their first weekly gains since late March, the same has not been revealed in the crypto markets,” said Darshan Bathija, Vauld CEO and co-founder, at FE Online.
“Over the weekend, altcoins also underperformed. The new Terra blockchain was introduced and the price of LUNA Classic and LUNA 2.0 tokens dropped. What is clear is that the crypto community is still visibly skeptical about the reliability of the project after the UST De-pegging debacle,” he added.
Best crypto prices
Several high crypto prices rose, with Cardano, Solana, Polkadot and Avalanche recovering the most. Consider:
Ethereum (ETH): Ethereum price rose 5.9% in the past 24 hours to $1,873. In the past 7 days, the price of ETH has fallen by 7.42%. It is currently ranked as the second crypto asset by market cap.
Binance (BNB): The coin price of Binance Chain has increased by 4.5% in the last 24 hours to $315. In the last 7 days, the price of BNB has fallen by 0.64%. It is currently ranked as the fifth largest crypto asset by market capitalization.
XRP: The price of the XRP coin is up 4.9% in the past 24 hours to $0.3998. In the past 7 days, the price of XRP has fallen 4.52%. It currently ranks 6th among crypto assets by market cap.
Solana (SOL): Solana’s price is up 9.17% in the past 24 hours to $46.37. In the past 7 days, the price of SOL has fallen by 10.54%. It currently ranks 9th among crypto assets by market cap.
Cardano (ADA): The price of the Cardano token is up 11.41% in the past 24 hours to $0.5111. In the past 7 days, ADA’s price has fallen 4.78%. It currently ranks 8th among crypto assets by market capitalization.
Popular memecoin price Dogecoin (DOGE) is up 5.41% in the past 24 hours. DOGE is currently in 10th place in terms of market capitalization. The price of DOGE at the time of this report was $0.08487.
Meanwhile, the price of Polkadot (DOT) rose 10.24% to $10.35, while Avalanche (AVAX) rose 14.21% to $25.55. DOT and AVAX are currently ranked 11th and 14th respectively on CoinMarketCap. The price of Polygon (Matic) is up 7.39% to $0.6206 in the last 24 hours. It currently ranks 17th on CoinMarketCap.
(Cryptos and other virtual digital assets are not regulated in India. They are described as extremely risky for investment. Consult your financial advisor before making any investment decision)