Almost all major crypto coins, including Bitcoin, Ethereum, Cardano, Solana and others extended their previous day's losses to shed more value.
Cryptocurrency Price Today: The global cryptocurrency market was headed for another dip on Saturday, June 11, as major crypto coins took a hit during the day. Almost all major crypto coins, including Bitcoin, Ethereum, Cardano, Solana and others extended their previous day’s losses to shed more value. The global cryptocurrency market was standing at $1.20 trillion, down by 3.19 per cent over the past 24 hours, data showed, as the situation remained more on the negative side.
The crypto coin prices remained unstable for another day as investors seemed undecided regarding attractive prices and worries about rising inflation as well as an economic slowdown. “We are seeing frequent short-term surges in volatility as market participants are trading within in a tight range because they are unsure of how the crypto market would react to macro-economic conditions,” said Darshan Bathija, CEO and co founder of Vauld.
Bitcoin plunged below the $30,000 levels again during early hours of the day and remained in that position. This came after two days of the world’s largest cryptocurrency being flat at the $30,000 mark. Bitcoin price today fell by 2.46 per cent to stand at $29,340.07 at the time of writing this article. Over the past week, Bitcoin rates have gone down by 1.13 per cent. On the other hand, Ether price today took a sharp hit and was standing at $1,669.92, falling by 6.79 per cent over the past 24 hours.
“Though BTC has been moving in tandem with the equities market, its correlation to the S&P 500 index has declined over the past month. If the crypto markets can move away from being correlated to the traditional markets, it would be a highly optimistic signal. While long-term holders are doubling down on their BTC investments, retail investors still remain risk-averse in the current market,” said Bathija.
“With a significant amount of institutional capital continuing to pour into the crypto space, this can potentially be viewed as a reversal of the negative sentiment ever once so prevalent. Going into the second half of 2022, we continue to be optimistic on crypto and web3 adoption as the technology continuously evolves to address existing challenges in the financial sector,” added the CoinDCX research team.
Here are the top 10 cryptocurrencies and their prices on June 11, 2022 ( According to data from coinmarketcap.com)
Bitcoin $29,340.07 or 2.46 per cent loss in the last 24 hours
Ethereum $1,669.92 or 6.79 per cent loss in the last 24 hours
Tether $0.9993 or 0.00 per cent loss in the last 24 hours
USD Coin $1.00 or 0.02 per cent gain in the last 24 hours
BNB $289.76 or 0.38 per cent loss in the last 24 hours
Cardano $0.6094 or 2.26 per cent loss in the last 24 hours
XRP $0.3876 or 4.49 per cent loss in the last 24 hours
Binance USD $0.9999 or 0.13 per cent loss in the last 24 hours
Solana $37.50 or 6.98 per cent loss in the last 24 hours
Dogecoin $0.07625 or 3.64 per cent loss in the last 24 hours
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Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J…Read More
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