Crypto Market Update: Market Collapse may be Dreadful on Altcoins!

Market Collapses Again, The Aftermath of the Collapse Maybe Dreadful on Altcoins Ahead!

 

After sustaining hard above INR 24 lakh for quite a long time, Bitcoin faced a strong rejection and plunged below these levels. Along with this the entire crypto space also witnessed a steep drop squeezing the profits of the recent jump. Therefore, this fake breakout appears to have trapped many, as the market appears to be below the crucial resistance for a pretty long time ahead. 

 

Bitcoin prices witnessed a huge drop of 6.32% while Ethereum, 5.90%. The other cryptos in top 10 like SOL, XRP, BNB, ADA also faced a 12.31%, 5.99%, 5.91%, 7.87%, resp. However, the leader among the losers is HOT with 14.25% drop. On the other hand, Waves spikes hard with 12.77% gain, being the only asset in top 100 to trade in profit at the press time. 

CRYPTO PRICES TODAY 

 

Price Trend	Price for June 02, 2022	Percentage change
The global crypto market cap	$1,232,505,863,884	–
The total crypto market volume	$96,234,093,312	–
Bitcoin Price	$29,843.47	-5.48%
Ethereum Price	$1,818.42	-5.86%

*All prices are latest by 11:20, 02 June, 2022.

Check out the Latest Crypto Prices, Charts, and Data of your favorite coin.

CRYPTO PRICE PREDICTION FOR THE DAY

Bitcoin (BTC)

The Bitcoin price after a steep fall ignited by the FUD within the crypto space recently squeezed more than 30% of its value. However, the asset continued to trade within the narrow braces since then until it received a significant push to regain its levels above INR 24 lakh. However, the prices have not moved ahead and not dropped either, hence raising some concern over the next price action.

The BTC price in the short-term appears to continue with a strong upswing after a brief accumulation of strength. Therefore, the star crypto could eventually achieve the levels close to INR 25 lakh ahead. But to close the weekly trade, the prices may try hard to reach INR 25 lakh, which appears a pretty tedious job now. So, the target of INR 26 lakh appears to be extremely distinct this week but could be possible by the end of this month.

Additional Read: Bitcoin Price Prediction in detail

TOP GAINERS AND LOSERS TODAY

TOP 3 CRYPTO GAINERS  

Crypto	Price*	Percentage Change
WAVES (WAVES)	INR 802.85	+19.08%
WAX (WAXP)	INR 10.72	+4.57%
Civic (CVC)	INR 14.68	+1.45%

*All prices are latest by 11:00, 02 June 2022.

TOP 3 CRYPTO LOSERS 

Crypto	Price*	Percentage Change
STP Network (stpt)	INR 3.96	-24.10%
STEPN (GMT)	INR 79.85	-14.77%
Audius (audio)	INR 16,736.40	–13.88%

*All prices are latest by 11:20, 02 June 2022.

Crypto Market Buzz

Bitcoin stands at the 10th spot as the world’s most valuable asset

Amidst the crypto market bloodbath, Bitcoin has lost over 18% yet it has stayed at the 10th place as the most valuable asset. BTC surpassed Meta whose market cap stands at $553.61 billion while Bitcoin’s stood at $603.38 billion. Among more than 19,000 crypto assets, BTC’s dominance stands at 44% in the $1.36 trillion crypto market.

Source:  Finbold 

Web3 News Global

ADA hits an ATH after Cardano’s development ahead of Vasil Hard Fork

Cardano development activity rose to 457 GitHub submissions per day just as the price of its native token ADA bounced after a large “realized profit/loss spike , as per an on-chain analytics firm ‘Santiment’. The network has 5,054,528 native assets deployed with over 55,000 policies set by the network.

Source: CryptoGlobe

Crypto News Global 

Lamborghini and Ferrari now accept payments in Shiba Inu, the most popular meme coin. 

Supercars like Ferrari, Lamborghini, Rolls-Royce, McLaren, Aston Martin and Bugatti can be booked through Travala with Shiba Inu as one of the payment methods. Travala is a crypto-friendly platform for making travel bookings. Shiba Inu continues to gain acceptance as one of the payment methods which can be seen as a ray of hope for crypto to move ahead.  

Source:   Finbold

NEW COIN LISTING ON COINDCX 

New Coin	Market Capitalization	Circulating Supply
Kava (KAVA)	$525,152,268	201,645,213.00 KAVA
Livepeer (LPT)	$285,932,480	23,915,584.66 LPT
STEPN (GMT)	$584,589,209	600,000,000.00 GMT
Kava (KAVA)	$525,431,074	192,328,959 KAVA

*All prices are latest by 11:20, 02 June 2022.