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The Bitcoin price has fallen to an 18-month low as record inflation levels cause a new crypto crash.
Avalanche is the biggest casualty in the crypto top 20 having lost 22% in price in the last 24 hours. Its losses are followed closely by Solana (down 21%) and Polygon (down 19%). Cardano, BNB and Shiba Inu are all down 15% in price in the past day.
The Consumer Price Index (CPI) recorded year-on-year inflation in May at 8.6%. This is the highest level of inflation seen since December 1981 and has spooked investors across all markets.
This new crypto crash has taken the whole industry market cap below $1 trillion for the first time since January 2021.
Below are the crypto prices today as of June 13.
Bitcoin is trading at a price of $24,440.
This is lower than the Bitcoin price of $26,760 directly following the collapse of Terra Luna. The Bitcoin price has not been this low since December 2020.
Bitcoin closed the week ending June 12 with its lowest close also since December 2020.
The price of Ethereum is currently $1,238.
Ethereum has lost 16% in price in the last 24 hours with a 35% price loss registered over the past week.
The Ethereum price has not been this low since January 2021.
The BNB price is currently $221.
This is the lowest BNB price since February 2021. BNB has lost 15% in price in the last day and nearly 30% in the past week.
The price of Cardano (ADA) is currently $0.442.
Cardano has lost 15% in price in the past 24 hours and is now seeing its lowest prices since February 2021.
During its price drop both BUSD and XRP have flipped Cardano (ADA) in the crypto market cap rankings. Cardano is currently in 8th place.
The price of Solana is currently $26.26.
Solana has dropped 21% in its crypto price today and nearly 40% in the past week. Solana is at its lowest price since July last summer. Solana remains the ninth biggest cryptocurrency by market cap.
Despite a new crypto crash, the prices of other cryptocurrency tokens are rising today.
EverGrow Coin is a reflection token on the BNB Chain growing over 24% in price today. The price of EverGrow Coin is currently $0.0000002398.
The growth of the EverGrow Coin price coincides with a massive 57% spike in trading volume. EverGrow Coin has emerged as one of the most secure crypto passive income generators in recent months – it has paid $37 million BUSD to investors since launching in September last year.
The huge BUSD rewards are paid daily and financed by a 14% transaction tax. This mechanism helps to ensure crypto passive income during both bull and bear markets.
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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.
