The crypto market is at an extremely volatile place right now. Cryptocurrencies continue to bleed owing to the multiple economic factors leading to negative investor sentiments. The unstable crypto market algorithms are driving away potential investors. In fact, stablecoins, that are pegged to the US dollar are, reportedly, getting 'de-pegged' given the changing monetary policies in the country. This is in turn aiding in the declining value of the crypto market. Also, the rising inflation is also one of the many reasons why investors are worried about the economic slowdown and the lack of worthy inflation hedges. In this article, Analytics Insight enlists the top cryptocurrency prices for May 12, 2022.
Bitcoin: US$27,651.81 (down by 11.36%)
Ethereum: US$1,888.75 (down by 19.93%)
Tether: US$0.9945 (down by 0.53%)
USD Coin: US$0.9998 (down by 0.02%)
BNB: US$240.47 (down by 23.23%)
XRP: US$0.3612 (down by 29.67%)
Binance USD: US$1.00 (up by 0.47%)
Cardano: US$0.4315 (down by 30.06%)
Solana: US$43.38 (down by 33.63%)
Dogecoin: US$0.07439 (down by 31.13%)
According to coinmarketcap, the global market cap is currently standing at US$1.19T, indicating a decrease of 15.52% over the last day.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.