Cryptocurrency price

Bitcoin Makes a Comeback, Terra Down by 85%; Complete list

Cryptocurrency price today: The bloodbath in the global cryptocurrency market extended for another day on Wednesday, May 11, as major crypto coins continued to lose value in volatile markets. Terra lost its top 10 position and fell several ranks as its stable value of $88 was reduced to just $4, after the cryptocurrency lost over 85% of its value. On the other hand, the global cryptocurrency market fell 4.89% to $1.39 trillion at the time of writing.

Bitcoin fell below the $30,000 levels on Tuesday but recovered in value to stand at $31,374.17 at the time of writing. The price of Bitcoin today, however, is down 0.85% in the past 24 hours, according to data from CoinMarketCap. On the other hand, the price of Ether stood at $2,386.08 today, up 0.40% in the last 24 hours.

“After a major correction that led Bitcoin to dip below $30,000, BTC appears to have recovered above the $31,000 level as market fear sentiment has cooled down a bit. On the daily timeframe, the trend for BTC is about to break below the long triangle pattern. The trend could rebound from this support level. If, however, the chart breaks below the pattern, the next support for BTC can be expected at $28,600,” the WazirX Trade Desk said.

“Even though the price of Bitcoin stabilized around the $30,000 level, data from Glassnode suggested that there was a spike in BTC transfer volume to exchanges. This implies that many traders were moving their BTC to exchanges to sell. Similar to how BTC’s correlation with the S&P 500 has limited asset recovery, ETH’s correlation with BTC has led the altcoin to trade closely with BTC.” , Darshan Bathija, CEO and co-founder of Vauld, told news18.com.

“Terra (LUNA) has had a one-week whirlwind with the token tumbling at an alarming rate. LUNA has fallen almost 85% in the past six days, falling below $4 from a stable price With this, Binance, one of the world’s leading crypto exchanges, temporarily halted the withdrawal of UST and LUNA. All of this had a cascading effect on LUNA’s prices, causing it to spiral out of control. LUNA’s daily chart has moved below the ascending channel pattern. We could expect immediate support at $4,” added the WazirX Trade Desk.

Here are the top 10 cryptocurrencies and their prices as of May 11, 2022 (According to data from coinmarketcap.com)

Bitcoin $31,374.17 or 0.85% loss in the last 24 hours

Ethereum $2,386.08 or 0.40% gain in the last 24 hours

Tether $0.9998 or 0.02% loss in the last 24 hours

BNB $310.85 or 3.55% loss in the last 24 hours

USD Coin $1 or 0.05% gain in the last 24 hours

XRP $0.5127 or 1.23% loss in the last 24 hours

Cardano $0.6531 or 2.66% loss in the last 24 hours

Solana $64.72 or 6.61% loss in the last 24 hours

Binance USD $1 or 0.12% gain in the last 24 hours

Dogecoin $0.1075 or 5.19% gain in the last 24 hours

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