Cryptocurrency Prices Today May 14: Breather from sell-off; Bitcoin, Ether in green
Cryptocurrency Prices Today May 14: Breather from sell-off; Bitcoin, Ether in green
The global crypto market cap now stands at $1.28 trillion, a 2.26 percent increase over the previous day. The total crypto market volume over the last 24 hours is $118.10 billion, which makes a 98.31 percent decrease.
The total volume in DeFi is currently $11.49B, 9.73 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $103.84 billion, which is 87.92 percent of the total crypto market 24-hour volume.
Bitcoin‘s price is currently $29,657.70, with a dominance of 44.04 percent, a decrease of 0.79 percent over the day, according to data from CoinMarketCap. Ether is currently trading at $2,042.83.
The price of bitcoin dropped to around $25,420 this week, its lowest level since December 2020, according to CoinDesk. It steadied around $30,000 Friday, but that’s still less than half the price bitcoin fetched last November.
The cryptocurrency market witnessed a bloodbath on Tuesday amid sinking global markets and diminishing risk appetite of investors. Following a 13 per cent decline, Bitcoin breached the $30,000 mark in the last 24 hours. It is the lowest level of the largest digital token since July 2021. It hit an intraday low of $29,944.80.
According to data from Coinmarketcap, Bitcoin has tumbled about 25 per cent in the last six days. The crypto behemoth has tanked about 60 per cent from its peak scaled in November 2021.
Market experts said rising inflationary worries, aggressive monetary tightening, looming recession fears, war crisis and geopolitical worries are denting sentiments for riskier assets such as cryptos.
