Crypto Crash News today (July 4): Crypto markets continue to remain in the “extreme fear” zone amid slugging trading activities and crises at several crypto companies. The global cryptocurrency market cap fell to $865 billion, decreasing 0.09 per cent over the day while Bitcoin traded around $19,000 in the last 24 hours. Prices of most of the top cryptos have also dropped further, according to CoinMarketCap data at the time of writing (12.58 pm, India time).
The global crypto market volume over the last 24 hours decreased 11 per cent to $37.71 billion. The total volume in DeFi was $3.99 billion, representing 10.58 per cent of the total crypto market 24-hour volume. The volume of all stablecoins was $34.54 billion, 91.6 per cent of the total crypto market 24-hour volume.
Bitcoin (BTC) dominance is now 42.19 per cent. BTC price decreased by around 10.22 per cent in the last 24 hours. At the time of writing, BTC was trading at $19,099. In the last 7 days, BTC price has fallen by 10.16 per cent.
“Bitcoin dropped by over 8% in the week that went by, languishing around the $19,000 level. The overall market sentiment has improved marginally but still remains in the “extreme fear” zone. Interestingly, on-chain data suggests that whales with over 1000 BTC are heavily accumulating the token despite the negative sentiment surrounding it. The daily trend for BTC is traversing within a descending channel pattern. The next key support is expected at $14,000. The daily RSI is a tad below the 30 level, reeling in the oversold zone,” analysts at WazirX Trade Desk shared in a note with FE Online.
OGN outperforms BTC
Origin Protocol (OGN) has outperformed Bitcoin and other top cryptocurrencies in the last 24 hours. Ranked 158 on CoinmarketCap, OGN was trading 15.22% higher than yesterday at $0.323.
“Origin Protocol (OGN), a platform for building peer-to-peer marketplaces and e-commerce applications, gained over 20% in the last 24 hours to be the top performer and outperform Bitcoin considerably. The surge in price for OGN is probably due to its huge airdrop event scheduled for this month,” the analysts said.
Vauld suspends withdrawals
Facing financial challenges, Coinbase-backed crypto exchange Vauld has suspended withdrawals, deposits and all trading activities on its platform. The exchange witnessed withdrawals worth over $197 million since 12th June.
Crypto Rupe Index Change
Crypto Rupee Index (CRE8) by CoinSwitch increased 0.11 per cent in the last 24 hours to Rs 2257 at the time of writing. CRE8 tracks crypto market performance in INR.
Narrow range price action
“Most of the top cryptocurrencies formed small candlesticks over the past few days. It indicates that the price action remained within a very narrow range. This consolidation spanning across a few days can usually be considered to be a good sign. It allows the market to recover from the bearish sentiments of the past couple of months. The key levels to watch out for would be $18,850 support and $21,000 resistance in bitcoin,” said Edul Patel, CEO and Co-founder of crypto investment platform Mudrex.
Top Crypto Prices on July 4
Ethereum (ETH): Ethereum price dropped 1.34 per cent to $1049 in the last 24 hours. In the last 7 days, ETH price has decreased by 14 per cent. It is currently ranked second largest crypto asset in terms of market capitalisation.
Binance (BNB): Binance Chain coin’s price decreased 1.2 per cent to $216 in the last 24 hours. In the last 7 days, BNB price has decreased by 9.23 per cent. It is currently ranked as fifth biggest crypto asset in terms of market capitalisation.
XRP: XRP coin’s price increased by 1 per cent to $0.3158 in the last 24 hours. In the last 7 days, XRP price has decreased by 13.14 per cent. It is currently ranked as 7th biggest crypto in terms of market capitalisation.
Solana (SOL): Solana price decreased slightly by 0.45 per cent to $32.72 in the last 24 hours. In the last 7 days, SOL price has decreased by 18.27 per cent. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.
Cardano (ADA): Cardano token’s price decreased by 0.52 per cent to $0.4476 in the last 24 hours. In the last 7 days, ADA price has decreased by 10.4 per cent. It is currently ranked as 8th biggest crypto asset in terms of market capitalisation.
Dogecoin’s (DOGE) price has decreased by around 0.33 per cent in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.06597.
Price of Polkadot (DOT) decreased by 0.34 per cent to $6.71. Avalanche (AVAX) price increased around 4 percent to $16.25 in the last 24 hours. Both DOT and AVAX are currently ranked 12th and 17th respectively on CoinMarketCap.
Polygon (Matic) price decreased by around 5.22 per cent to $0.4552 in the last 24 hours. In the last 7 days, MATIC has price has dropped around 20 per cent. It is currently ranked 18th on CoinMarketCap.
Shiba Inu (SHIB) fell nearly 0.27 per cent in the last 24 hours to $0.000009982. It is currently ranked 15th on CoinMarketCap.
(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)