The carnage in the cryptocurrency market continues. Bitcoin (BTC) falls even deeper and by far most altcoins from the top 100 also turn red. Total market cap is down 3.5% to $1.62 trillion.
Daily Market overview.
Market cap: $1.68T -2.77%⬇️
SPOT Volume 24h: $47.4B -6.79%⬇️$BTC dominance: 39.17% -0.32%⬇️
Fear & Greed Index: 11⬇️😱extreme fear sentiment on the Market. Most projects in loss.🔴#Bitcoin $BTC $ETH #EthereumMy socials🌐👉https://t.co/h7kQrKReuW pic.twitter.com/WRnihBELbr
— IT Tech (@IT_Tech_PL) May 9, 2022
Ethereum is down 4.3%
Ethereum (ETH) lost traction at $2,525 last night, then plummeted to a low of $2,420. This morning the ether price continues to fluctuate just above and currently stands at $2,445 with which the price is 4.3% in the negative.
$ETH is dropping down further in what is essentially its $2250-$3000 range (black-black)
Getting closer and closer to the Range Low#ETH #Crypto #Ethereum https://t.co/r8D3wTrm49 pic.twitter.com/XQDa2iVOUz
— Rekt Capital (@rektcapital) May 9, 2022
LUNA tries to save UST
Terra (LUNA) is the least deep in the red among the largest crypto today. That’s because the price took heavy blows last weekend and recovered slightly last night. That may have to do with the next announcement. The Luna Foundation Guard is trying to salvage UST’s peg to USD through a loan. Nevertheless, LUNA is still 2.6% in the minus with $61.2.
4/ As a result, the LFG Council has voted to execute the following:
– Loan $750M worth of BTC to OTC trading firms to help protect the UST peg.
– Loan 750M UST to accumulate BTC as market conditions normalize.
— LFG | Luna Foundation Guard (@LFG_org) May 9, 2022
DOGE, XRP, BNB, SOL in the minus
After that, dogecoin (DOGE) again holds the strongest position. Despite this, DOGE is down 3.6% to USD 0.12. Ripple (XRP) initially held up, but made a big dive this morning. XRP comes in at $0.55 and is 4.6% in the min. Binance coin (BNB) is down 4.7% to $342. Solana (SOL) started declining yesterday afternoon and is already 5.3% down with a price of $74.
AVAX, ADA, DOT, SHIB fall harder
Avalanche (AVAX) is down 6.2% to $50.4. Cardano (ADA) is losing a whopping 7.3% of its value and currently stands at $0.688. Polkadot (DOT) is even down 8%, dropping to $12.3. Shiba inu (SHIB) is the biggest loser among the biggest crypto, falling 8.6% to $0.0000172.
#ShibaInu appears to be breaking out of a descending triangle in a bearish posture, which could see $SHIB retrace by more than 47%.
Notice that #SHIB is also losing the RSI support at 35.10 on the 3-day chart. pic.twitter.com/EBbSxgruad
— Ali Martinez (@ali_charts) May 8, 2022
Crypto top 100 hardest fallers and risers
It is striking that today the biggest losers come from the top 10, according to cardano, polkadot and shiba inu. In addition, polygon (MATIC), decentraland (MANA), helium (HNT), enjin (ENJ), cronos (CRO), fantom (FTM), thorchain (RUNE), aave (AAVE) and maker (MKR) are all like that too. a 7% in the min.
However, there are exceptions to be found. Tron (TRX) is up 4%, waves (WAVES) 6% and chain (XDC) 8%. Near protocol (NEAR) is no less than 8.5% in the plus. Then we have a significant outlier with lido (LDO). Lido jumped to $3.30 this morning, bringing the price up 25%.
#Binance will list @LidoFinance $LDO†
— Binance (@binance) May 9, 2022
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