Yesterday it looked gloomy again on the cryptocurrency market after fear, uncertainty & doubt (FUD) from China. Total market capitalization fell all the way to $ 1.3 trillion last night. Many prices were more than 20% negative, but in the evening the market slowly started to recover. That continued last night and this morning prices are starting to rise again at an increasing rate. The total market capitalization has now returned to $ 1.55 trillion.
Bitcoin (BTC)
Bitcoin (BTC) fell 18% yesterday and came out below $ 31,400 yesterday evening. With that, the price was 45% below the value it still had on May 12, shortly before Elon Musk tweeted that Tesla no longer accepts bitcoin. Since last night’s low, the bitcoin price has risen by 16% again and even jumped up again this morning, hitting $ 36,650. That was rejected for now, but with an increasing trade volume, the price is expected to break through this at any time.
Ethereum (ETH)
Ethereum (ETH) even fell 25% yesterday and plunged all the way back to $ 1,750, the lowest since late March and nearly 60% below the all-time high (ATH) that ether settled on May 12th. After this low, there was an immediate bounce up and the ether price just hit $ 2,250 again after a 28% rise.
Cardano (ADA)
Cardano (ADA) makes a similar move. The ADA rate was initially less sensitive to the Elon Musk tweet and continued to rise to a all-time high (ATH) of $ 2.45. Last night, the price came in at $ 1.08 after falling 29% on Sunday and 56% since the record. Last night, the price rose 35% and is now at $ 1.46.
Biggest risers and falls
In addition, we see some prices recover much more strongly. Stellar lumens (XLM) is no less than 57% in the plus since the low from $ 0.28 last night and is now coming in at $ 0.44. Fantom (FTM) is rebounding 63% since last night’s low to $ 0.31. Harmony (ONE) is up 72% from $ 0.58 to $ 0.1 and Helium (HNT) is even up 75% from $ 8.56 to $ 15.
A lot of decentralized finance (DeFi) prices had taken a significant hit yesterday, but Maker (MKR) is recovering nearly 89% from $ 1,865 to $ 3,525. The biggest winner last night is Polygon (MATIC) again, which recovered 91% from $ 0.77 to $ 1.47. Still, that’s 44% below the $ 2.62 ATH hit on May 18.
Not everything looks bright this morning. Some prices fell so hard yesterday that despite their recovery last night, they are still heavily in the red, including Nexo (NEXO), SafeMoon (SAFEMOON), Klaytn (KLAY), AMP (AMP) and Terra (LUNA), but may be it is also about to rise.
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