Bitcoin Erases Gains Incurred in the Past 24 Hours in Minutes! What’s Awaited for the Altcoins Ahead?
Replicating the previous price action, the BTC price again slipped below INR 23 Lakhs recording a massive bearish candle of more than 6%. The move has compelled the entire crypto space to head towards the south, squeezing out most of the gains accumulated in the past 24 hours. Bitcoin and Ethereum plunged heavily by 5.33% & 6.64% respectively, slashing the global market capitalization down by more than 5% since the early trading hours.
Amid the bearish clouds hovering above the crypto space, yet some altcoins like Helium(HNT), Gala (GALA), Tezos (XTZ) maintain a notable uptrend of 5.05%, 4.03% & 1.01% resp. On the other hand, assets like Aave (AAVE), Chilliz (CHZ) & Internet Computer (ICP) have plunged more than 10% each. Popular tokens like TerraClassin(LUNC) dropped by 9.74% while STEPN(GMT) & Optimism (OP) tanked down by 5.22% & 5.79% at the press time.
CRYPTO PRICES TODAY
| Price Trend | Price for May 16, 2022 | Percentage change |
| The global cryptocurrency market cap | $1,211,431,161,219 | – |
| The total crypto market volume | $81,208,111,020 | – |
| Bitcoin Price | $29,484.42 | -5.07% |
| Ethereum Price | $1,747.38 | -6.60% |
*All prices are latest by 09:00, 07 June 2022.
Check out the Latest Crypto Prices, Charts, and Data of your favorite coin.
CRYPTO PRICE PREDICTION FOR THE DAY
STEPN (GMT)
The STEPN(GMT) price in almost all time horizons is pretty bearish as the market sentiments have flipped recently. No indicators are bullish right now, and neither displays a possibility of undergoing a notable rally in the near future. Yet some of the indicators are neutral and hence the price if not dropped may remain consolidated. On the other hand, in the longer time frame, MACD is slightly bullish and hence a significant upswing may be expected then.
Additional Read: STEPN Price Prediction in detail
TOP GAINERS AND LOSERS TODAY
TOP 3 CRYPTO GAINERS
| Crypto | Price* | Percentage Change |
| Helium (HNT) | INR 843.24 | +9.24% |
| Polymath (POLY) | INR 23.64 | +8.56% |
| Gala (GALA) | INR 6.69 | +7.00% |
*All prices are latest by 09:00, 07 June 2022.
TOP 3 CRYPTO LOSERS
| Crypto | Price* | Percentage Change |
| Internet (ICP) | INR 567.84 | -4.49% |
| Chiliz (CHZ) | INR 9.96 | -8.96% |
| Aave (AAVE) | INR 8211.25 | -8.54% |
*All prices are latest by 09:00, 07 June 2022.
Crypto Market Buzz
Bitcoin Bullish Signal: 1k-10k BTC Holders Have Been Buying Recently
Reserves of 1k-10k BTC holders have started investing more. According to a post by CryptoQuant analyst, the whales have a pattern of buying at dips and selling at near tops. The analyst has also observed that a group of investors has been selling at declines while the smart investors have been doing quite the opposite.
Source: News BTC
Web3 News Global
Scammers hack into BAYC and Otherside Metaverse, Steal 32 NFTs Worth $259,000
PeckShield, a blockchain security firm, investigated the case of BAYC and Otherside Metaverse Discord server hack. Reportedly a pseudonymous analyst shared an image of the bad actors who breached the account of Yuga Labs community and social manager Boris Vagner to pull off a phishing scheme which made some of the members send 145 Ethereum (ETH) worth of NFTs to a phony wallet.
Source: The Daily Hodl
Crypto News Global
MG Motors launches Metaverse platform MGverse
MG Motors announced the launch of MGverse – a metaverse where customers and other stakeholders will be able to connect in an immersive way. In the MGverse users will be able to interact with real data. Customers will be able to explore and create their own custom vehicles in one of the 5 arenas. The firm will also have exclusive NFT collectibles for its customers to trade on.
Source: The Economic Times
NEW COIN LISTING ON COINDCX
| New Coin | Market Capitalization | Circulating Supply |
| SKALE Network (SKL) | $235,534,218 | 3.53B SKL |
| BAND ProtOcol (BAND) | $56,355,873 | 35,191,821.00 BAND |
| Moonbeam (GLMR) | $351,956,627 | 278,026,619.00 GLMR |
| Livepeer (LPT) | $282,078,591 | 23,946,556.69 LPT |
*All prices are latest by 09:00, 07 June 2022.
Related posts
Bitcoin Price Hits New All-Time High Following Fed’s 25-Basis-Point Rate Cut
Fed’s interest rate cut spurs crypto momentum, boosting Bitcoin and Ethereum prices.
Blum Secures Major Investment from TOP to Strengthen DeFi Presence in TON Ecosystem
TOP’s backing aims to accelerate Blum’s multi-blockchain expansion.
