The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Trading

Crypto Tracker: Markets face sharp decline in trading volumes

Crypto Tracker: Markets face sharp decline in trading volumes
Share on FacebookShare on Twitter


The cryptocurrency market continues to face wintry sentiment from investors. On Saturday, there has been a massive decline in trading volumes which pushed the cryptocurrency market cap below $925 billion. The selloff comes after the crypto exchange Celsius voluntarily filed for bankruptcy due to illiquidity. Currently, crypto exchanges struggle with a liquidity crunch and that has led to suspending withdrawals and other mechanisms for investors. The leader of the market, Bitcoin trades over $20,500 followed by its counterpart Ethereum performing slightly over the $1,200 mark.

Both Bitcoin and Ethereum are trading marginally higher currently. As per CoinMarket data, Bitcoin is performing at $20,655.68 with a market cap of $394.33 billion, while Ether is around $1,201.73 with a valuation of 145.88 billion.

Bitcoin’s dominance is around 42.56% flat compared to the previous day.

Bitcoin has made a weekly drop of nearly 5% and Ether’s weekly downside is around 1.5%.

The overall crypto market cap is at $926.32 billion down by 1.10% over the last day. In terms of volumes, the market currently records transactions to the tune of $55.47 billion lower by 38.76% over the last 24 hours. The total volume in DeFi is currently at $5.33 billion, 9.61% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.87 billion, which is 91.71% of the total crypto market’s 24-hour volume.

In 24 hours, the top performing cryptocurrencies are – Serum surging 7.5%, Algorand gaining 4.4%, Monero XMR soaring 4.3%, Sythetix SN up over 3.9%, and Zcash advancing 2.9%. On the contrary, the top underperforming cryptocurrencies are – Quant plunging 9.75%, Convex Finance slipping over 8.5%, THORChain diving 7.3%, TerraClassicUSD (USTC) shedding 7%, and Compound tumbling over 6%.

Among the top trending cryptocurrencies in 24 hours are Terra Classic (LUNC) down 6.2% at $0.0001029, Celsius at $0.7572 lower by 4.62%, Bitcoin below 0.94%, Polygon (MATIC) at $0.6937 marginally down, and CEEK VR at $0.2866 nosediving by 19.9%.

Celsius was in a sharp rally on the previous day after the company voluntarily opted for bankruptcy. Celsius halted its withdrawals in June due to heavy losses arising from a deep depression in the crypto market on the back of macroeconomic uncertainties. Among the negative factors, Celsius pointed to crypto exchanges was the implosion of Terra LUNA (“Luna”) and its TerraUSD (UST) stablecoin (“UST”) – as it accelerated the onset of a “crypto winter” and an industry-wide sell-off in 2022.

As of July 13, 2022, Celsius’s liabilities are around $5.5 billion, and assets are valued at around $4.31 billion. Thereby, the company has a deficit of $1.19 billion on its balance sheet. But Celsius has also announced that they have ample liquidity with $167 million in cash to support operations.

Many other crypto exchanges have halted their withdrawals such as Binance, CoinFlex, Vauld, and Voyager Digital among others. The steep sell-off in the crypto market has also led to the liquidation of hedge funds like Three Capital Arrows (3AC).

Notably, Celsius’ bankruptcy comes when the value of mining rigs is nosediving with Bitcoin prices in a sharp downturn.

A latest Bloomberg report stated that the industry observers had speculated that the mining business could be for sale as a way to raise cash since Celsius halted investor withdrawals last month. Besides any bankruptcy-related complications that may now arise, a possible offloading of the rigs could prove to be troublesome. Matthew Kimmell, digital asset analyst at CoinShares said that Celsius Mining selling machines would add downward pressure to already falling machines prices.

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.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

First article



Read More:Crypto Tracker: Markets face sharp decline in trading volumes

Tags: Bitcoin miningbitcoin priceBitcoin price todayCelsius bankruptcy filingCelsius insolvency procesCelsius withdrawalscryptocrypto market capcrypto market updatescrypto markets todaycrypto pricescrypto prices todaycrypto trackingcrypto trading volumescrypto trading volumes declineDeclineethereum priceEthereum price todayFaceMarketsSharpthree arrow capitaltop performing cryptocurrenciestop underperforming cryptocurrenciesTrackerTradingVolumes
Previous Post

What To Watch On Ethereum’s Chart As The Crypto Surges Higher – Benzinga

Next Post

‘South Park’ Mocks Matt Damon’s Cringy Crypto Ad

Related Posts

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

by The Cryptos News
July 30, 2022
0

In a recent announcement dated 29 July, co-founders of CoinFLEX, Sudhu Arumugam and Mark Lamb, provided an important update....

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

by The Cryptos News
July 30, 2022
0

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the...

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

by The Cryptos News
July 29, 2022
0

Comment on this storyCommentCryptocurrency traders have been put on notice that the US Securities and Exchange Commission considers a...

FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

by The Cryptos News
July 29, 2022
0

Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to...

Next Post
‘South Park’ Mocks Matt Damon’s Cringy Crypto Ad

‘South Park’ Mocks Matt Damon’s Cringy Crypto Ad

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz