Cryptocurrency Prices Today: Top Cryptos In The Red; Terra, Gala, Avalanche, Solana Fall By Upto 93%

After steep sell off on the previous day, cryptocurrencies recovered in early trade today, nevertheless again there is a crash witnessed in the digital token space. Bitcoin-the most popular and the largest crypto by m-cap has tumbled to again hold just above $30K, being at $30,806.5, a decline of over 1%. Ethereum-the second largest crypto is also trading with a cut of over 4% at $2251.6.

Furthermore, the sharpest correction to the tune of close to 100% has been seen in the case of Terra which last at the time of writing this copy at around 10:00 pm traded with a correction of over 92%. Likewise, the other top cryptos that as per Coindesk constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges including Gala tumbled by over 36%, followed by sharp losses in Avalance and Solana of over 30% and 23%, respectively.

By far the crypto universe as with the other securities market is plunging driven by weak sentiments on global economic growth fronts, geo-political worries, inflationary pressure and hawkish central banks.

In the correction, the overall crypto m-cap has taken a big hit by over 7% over the previous day and tumbled to just at $1.33 trillion, while the volumes in the market is also down by a tad to $196.55 billion.

So, it is largely the result of the economic fallout that Bitcoin has tumbled in price to its lowest since last July.

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