A number of cryptocurrencies are recovering at the time of writing. Bitcoin (BTC) is now at the same price as 24 hours ago, but many altcoins are still very deep in the red. This is mainly due to the crash of Terra (LUNA). The total market cap of all crypto is down 3.8% to $1.49 trillion.
📈Market Overview#BTC price trades below $32K
Market cap: $1.50T (-1.09%)$BTC dominance: 39.64% (+0.84%)
Fear & Greed Index: 12 (Extreme Fear)
— CryptoRank Platform (@CryptoRank_io) May 11, 2022
Ethereum 2.5% in the plus
Ethereum (ETH) initially slid all the way to $2,280 this morning, albeit slightly less than the day before yesterday’s $2,250. At the time of writing, ETH is a hefty bounce making and comes in at a price of $2,440. As a result, the share price is up 2.5% today. Still, the question is whether ETH can break out of this downtrend.
— Peter Szilágyi (karalabe.eth) (@peter_szilagyi) May 10, 2022
XRP, BNB, ADA in the minus
Ripple (XRP) already made a less convincing bounce this morning and now stands at $0.518, just below the price it had 24 hours ago. Binance coin (BNB) bounced even less strongly and is down 2.2% today with a price of $314.7. Cardano (ADA) recovers towards $0.65, but is still down 2.8%.
DOGE, SOL, DOT, SHIB drop sharply
Dogecoin (DOGE) is already 4.3% in the red and now stands at USD 0.108. Solana (SOL) appeared to hold support at USD 66 last night, but this now appears to be turning into resistance. SOL is 4.4% in the min. Polkadot (DOT) is at $11.1 and is even 4.7% in the min. Shiba inu (SHIB) drops to $0.0000157 and is no less than 5.2% in the min .
AVAX drops hard, LUNA crashes
Avalanche (AVAX) fell a little harder than the above crypto last night and this morning. AVAX price is now recovering slightly to $40.4 but that is still a loss of no less than 14.8% in 24 hours.
Terra (LUNA) is a completely different story. The LUNA price continues to plummet and now stands at $3.65, which is a drop of almost 88% today and 96% this week. Learn more about the event that could potentially have even greater consequences for the crypto market here.
39 Billion dollars has been erased from Luna’s Market Cap in the last 5 weeks.
Still in awe at the magnitude of this and the massive ripple-effects it will have on crypto pic.twitter.com/nlUIEtOynQ
— Altcoin Psycho (@AltcoinPsycho) May 11, 2022
Crypto top 100 hardest fallers
Apecoin (APE), helium (HNT) and klaytn (KLAYT) are down 10% today. Pancake swap (CAKE), sandbox (SAND) and synthetix (SNX) are 11% in the red. Iota (MIOTA), cosmos (ATOM) and harmony (ONE) are down 12%. Near (NEAR) and gala (GALA) are even 14% in the minus and axie infinity (AXS) almost 15%.
Thorchain (RUNE) is down 18% and stepn (GMT) is down 19%. Waves (WAVES), fantom (FTM) and frax share (FXS) are all no less than 20% in the min. Osmosis (OSMO) is down by 30% today, although LUNA & UST are of course the hardest decliners today.
Crypto top 100 hardest risers
Still, there are some exceptions in the top 100. Leo (LEO) is 5% in the plus, chain (XCN) is in the plus 12.5%, flow (FLOW) is rising by no less than 14% and maker (MKR) is currently shooting like a rocket. MKR is almost 50% in the plus and now comes in at $1,780.
Kinda poetic that instead of killing DAI the Terra ecosystem collapsing caused one of MKR’s biggest pumps in history
— sassal.eth 🦇🔊🐼 (@sassal0x) May 11, 2022
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I want to sleep but I can’t. We are witnessing history.
Seen a few things like this happen in $Crypto† It’s a car crash you can’t look away.
Think of the ripple effects.
Fund holding $UST†
— Mayne (@Tradermayne) May 11, 2022