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Cryptocurrency Prices Today: The global cryptocurrency market went down a lot today, May 12. It got 16.83% worse. Now, all coins are worth a total of $1.14 trillion. The value of significant cryptocurrencies like Bitcoin, Ethereum, and Solana has dropped a lot. People are afraid to invest in cryptocurrency because of problems in the world and rising prices. This has caused their prices to drop by a lot.
Experts say that Bitcoin’s fall is similar to falls in the stocks of tech companies. The Nasdaq, a stock market, lost 6.4% this week. Today, Bitcoin’s price fell to $27,411.11, its lowest in 16 months. Also, the price of Ethereum dropped a lot, to $1,797.26.
Hitesh Malviya, who started IBC Capital and itsblockchain.com, said, “Bitcoin’s price has dropped below $30,000. Prices are now going to stay low for a long time. This could go on for a year or two. Not enough people buy or sell coins, so many will go away.
Vauld’s boss, Darshan Bathija, said, “The price of Luna went down a lot. Also, the value of Terra’s currency, called UST, decreased. Recently, $11 billion less was in Anchor, a part of Terra. The UST money that Terra had went down to $0.30. Today, Terra was worth $0.2066, which means that in 24 hours, it dropped almost all of its value. People who put money into this lost almost all in just two days.”
He also said, “Luna Foundation Guard (LFG) helps Terra. They bought Bitcoin and other cryptocurrencies to try to keep the value of UST fixed. But when the price of a Bitcoin dropped to $30,000, they had to sell some of them. This hurt the market, and now government leaders in the U.S., like Janet Yellen, are worried about it and want new rules for these coins.
Here are the top 10 cryptocurrencies and their prices on May 11, 2022 ( According to data from coinmarketcap.com)
Bitcoin $27,411.11 or 9.89 percent loss in the last 24 hours
Ethereum $1,797.26 or 22.37 percent loss in the last 24 hours
Tether $0.9508 or 4.90 percent loss in the last 24 hours
USD Coin $1 or 0.40 percent gain in the last 24 hours
BNB $221.00 or 27.63 percent loss in the last 24 hours
XRP $0.3539 or 30.09 percent loss in the last 24 hours
Binance USD 1.02 or 2.08 percent gain in the last 24 hours
Cardano had $0.4096 or 33.23 percent loss in the last 24 hours
Solana had a $38.56 or 39.19 percent loss in the last 24 hours
Dogecoin $0.07068 or 32.51 percent gain in the last 24 hours
