Cryptocurrency news August 19: Crypto Crashing Hard
On August 19, 2022, the price of cryptocurrency was as follows: On Friday morning, cryptocurrency markets were still down. Additionally falling were BNB, Ethereum, and Bitcoin. The cost of cryptocurrencies has reduced again today. On Friday morning, the markets for cryptocurrencies remain negative. The worldwide cryptocurrency market cap is currently at $1.029 trillion, down from Thursday’s $1.12 trillion. Following yesterday, Bitcoin’s market share has gone down by 0.49 percent to reach 39.95 percent.
What we are going to learn?
Over the past 24 hours, popular cryptocurrencies including Bitcoin, Ethereum, and BNB have also fallen. At $21,488, Bitcoin is down 8.98 percent in price. A 9.14 percent downward trend was also visible for the Ethereum blockchain network’s ether coin. ETH is trading below 1700USD at the time of writing. The price of the Binance Smart Chain’s BNB crypto token dropped by 8.70 percent.
The current price of stablecoin
Additionally, stablecoins displayed a downward trend. The USDT Tether stablecoin’s value dropped by 0.1% yesterday, while the currency’s peg to the dollar remained the same. A 0.01 percent loss was also seen by USDC stablecoin, which kept its $1 price cap. 0.01% of BinanceUSD was lost. While the stablecoin DAI dropped 0.04 percent and is now worth $0.9994, the stablecoin is currently trading at $1. HUSD yesterday lost its peg by more than 16 percent but is not back close to 1USD. The fall in price happened, due to liquidity crisis.
Blockchain coins at layer 1
Over the past 24 hours, the value of crypto coins native to Layer 1 blockchain networks, including Solana, Cardano, Ripple, and others, has also decreased. The price of Cardano’s ADA coin dropped by 9.02 percent. Solana decreased by 6.13. Avax, the trading currency of Avalanche, is down 9.57 percent.
Crypto Market Crashing Hard
Crypto on Friday is seeing a major crash, after a long time. Investors are speculating the relief rally is over and the long bear market would continue. Some of the crypto bears on Twitter are predicting Bitcoin to fall below 12000 USD, and Ethereum below 400USD. What do you think we are heading? Drop in your comment.