E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine

June 30, 2022

Oil prices stable as market weighs fuel stocks build amid supply concerns

June 30, 2022

Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125

June 30, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»ETH Dumps to 2018 ATH
Crypto

ETH Dumps to 2018 ATH

Paul EasterBy Paul EasterJune 12, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email


The past 24 hours brought even more pain to the cryptocurrency market, with bitcoin dumping to a monthly low of just over $27,000. However, the alternative coins suffer even more. ETH, for example, plummeted below $1,500 to the 2018 ATH levels.

Bitcoin Goes Down Again

After a few brief and unsuccessful attempts to overcome $32,000 last week, the primary cryptocurrency started to lose value gradually. The last rejection at that level brought it down to $30,000, where the asset stood for a few days.

The landscape changed on Friday when the US inflation numbers went out (8.6%). The 40-year-record brought enhanced volatility for BTC, which dropped to $29,000.

Nevertheless, the worst was yet to come as bitcoin started to drop even more vigorously hours later. This culminated earlier today when BTC slumped to $27,200 (on Bitstamp) – the lowest price position seen in a month.

Consequently, bitcoin’s market capitalization is down to $520 billion. The silver lining for the BTC bulls is that the dominance over the altcoins is up to almost 48%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Bitcoin News

The aforementioned adverse price developments have not deterred traditional hedge funds, as a recent report claimed they continue to pour funds into the market.

deVere Group’s CEO is still bullish on bitcoin and believes the asset will skyrocket by the end of the year.

Alts in Deep Red

While bitcoin has declined by around 5-6% in the past 24 hours, most altcoins are down by double-digits.

Ethereum is among the most substantial losers. ETH is down by more than $200 in the past 24 hours and over $500 in a week. It not only dropped below $1,500, but it has declined to the 2018 all-time high levels of around $1,450.

BNB (-12%), ADA (-15%), XRP (-11%), SOL (-14%), DOGE (-14%), DOT (-14%), and Avalanche (-20%) are also deep in the red from the larger-cap alts. TRON has taken this retracement with a bit less pain – a more modest 7% decline.

With the lower- and mid-cap alts in similar or worse positions, the total crypto market cap has dumped by another $100 billion in a day. The metric is down by $200 billion in a few days and is under $1.1 trillion now.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Crypto News

The Bank of Canada believes the cryptocurrency market needs to be regulated before it becomes big enough to cause a macro-financial meltdown.

Crypto exchange Huobi went deep into DeFi and Web 3 by launching a $1-billion investment vehicle.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.



Source link

Paul Easter

Related Posts

CBDCs Are Natural Evolution Necessary to Protect Fiat Monetary System: Swedish Central Banker  CBDCs an Evolution of Central Banks, Necessary to Protect Fiat Monetary System: Swedish Central Banker 

By Paul EasterJune 30, 2022

Market Selloffs Lead to Rising Inflows of USDC: Circle CEO

By Paul EasterJune 29, 2022

Crypto Winter ‘Weeded out’ Unnecessary Market Participants

By Paul EasterJune 29, 2022

Bitfury’s CEO Explains Why Bitcoin Is Proned for Upcoming Gains

By Paul EasterJune 29, 2022
Add A Comment

Comments are closed.

Our Picks

Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine

By Paul EasterJune 30, 2022

Oil prices stable as market weighs fuel stocks build amid supply concerns

By Paul EasterJune 30, 2022

Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125

By Paul EasterJune 30, 2022
Recent Posts
  • Opening Bell: Nifty, Sensex start flat; energy, metal, IT stocks shine June 30, 2022
  • Oil prices stable as market weighs fuel stocks build amid supply concerns June 30, 2022
  • Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125 June 30, 2022
  • Buy, Sell or Hold: What should investors do with AU Small Finance Bank, MMTC and Aavas Financiers? June 30, 2022
  • Stocks to buy today: MTAR Tech, Apollo Tyres, Minda Industries and Bharti Airtel among list of stocks for profitable trade on June 30 June 30, 2022
  • Record-Setting Jumper Tosses Biomimicry Out The Window June 30, 2022
  • Udyami Bharat Programme: PM Narendra Modi to launch several schemes on June 30 to ramp up MSME sector June 30, 2022
Archives
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.