Crypto prices plunge as Bitcoin below $30,000, dogecoin, Shiba Inu, others also drop today

  • Bitcoin is down 36% this year, and it is trading far below the peak of $69,000 it hit in November 2021

Livemint
Published21 May 2022, 08:20 AM IST
Ether, on the other hand dropped 2.7% trading at $1,963.42 on Saturday. Dogecoin plunged 2.7% trading at $0.084424, while Solana dropped over 4% trading at $49.89 on Saturday.
Ether, on the other hand dropped 2.7% trading at $1,963.42 on Saturday. Dogecoin plunged 2.7% trading at $0.084424, while Solana dropped over 4% trading at $49.89 on Saturday.

A day after Bitcoin rose 5.33% to $30,204.92, adding $1,530.09 to its previous close, as it witnessed another drop today below $30,000. The world's largest and most popular fell over 3% and was trading at $29,258.10. Notably, Bitcoin is down 36% this year, and it is trading far below the peak of $69,000 it hit in November 2021. The world's biggest and best-known cryptocurrency has been up 18.9% from the year's low of $25,401.05 on May 12.

Ether, on the other hand dropped 2.7% trading at $1,963.42 on Saturday. Dogecoin plunged 2.7% trading at $0.084424, while Solana dropped over 4% trading at $49.89 on Saturday. Shiba Inu witnessed a 2% drop trading at $0.00001159 and Polkadot dropped over 3% trading at $9.68 on Saturday.

It is important to note that the global crypto funds saw record weekly net inflows for this year, totalling $274 million last week (7-13 May), a strong signal that investors saw the recent terraUSD (UST) stablecoin de-peg and its associated broad sell-off as a buying opportunity, digital asset manager CoinShares said. The world’s biggest crypto asset, Bitcoin, benefitted the most with inflows totalling $299 million last week.

Cryptocurrencies have been swept up in a sell-off this year in risk assets, which has picked up steam as data showed US inflation running hot, deepening investor fears about the economic impact of aggressive central bank tightening. The downturn in the crypto market which started in April has wiped billions of dollars in market value within a month.

(With inputs from agencies)

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:21 May 2022, 08:20 AM IST
Business NewsMarketsCryptocurrencyCrypto prices plunge as Bitcoin below $30,000, dogecoin, Shiba Inu, others also drop today

Most Active Stocks

Tata Steel

153.40
03:59 PM | 13 SEP 2024
1.65 (1.09%)

Bank Of Baroda

239.30
03:49 PM | 13 SEP 2024
2.1 (0.89%)

Bandhan Bank

207.05
03:57 PM | 13 SEP 2024
10 (5.07%)

Zee Entertainment Enterprises

135.95
03:59 PM | 13 SEP 2024
1.2 (0.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Linde India

8,205.20
03:29 PM | 13 SEP 2024
623.3 (8.22%)

IDBI Bank

94.94
03:53 PM | 13 SEP 2024
7 (7.96%)

IIFL Finance

523.65
03:29 PM | 13 SEP 2024
38.4 (7.91%)

Home First Finance Company India

1,203.70
03:43 PM | 13 SEP 2024
76.3 (6.77%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    72,990.00790.00
    Chennai
    73,100.00880.00
    Delhi
    75,310.002,420.00
    Kolkata
    75,600.001,090.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.98/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts