TODAY’S CRYPTOCURRENCY PRICES: BITCOIN LOWEST FALL IN A MONTH , ETHER AND SOLANA FALLS SHARPLY ; FULL LIST
Today’s Cryptocurrency price: At the time of writing this article, the price of bitcoin was $35960.00, a drop of 8.45% in the previous 24 hours.
The sharp rise in cryptocurrency prices following the Fed's interest rate hike proved fleeting, as the global cryptocurrency market fell sharply on Friday, May 6, amid weak market cues. According to data, the cryptocurrency market cap bled sharply as it took a hit, falling by as much as 7.42 percent to $1.67 trillion. Bitcoin was at its lowest level in a month, and altcoins experienced significant drops as well. Avalanche lost 16% of its value, while Solana and Cardano each lost 13%.
At the time of writing, the price of bitcoin was $35960.00, representing a drop of 8.45% in the previous 24 hours. On the other hand, at the time of writing, the price of Ether was $2,654.22, down as much as 7.2% in the previous 24 hours.
Bitcoin corrected significantly to drop below $36,000. Bitcoin fell by 8 per cent in a single day as the overall stock markets fell sharply with the FOMC announcing the 0.5 per cent point hike in the interest rate. Further, the increasing outflow of BTC from exchanges also sparked a bearish sentiment among investors. The daily trend for BTC has broken out of the long formed triangle pattern. The next resistance is expected at $48,600 and an immediate support for BTC is expected at $33,100 levels," said the WazirX Trade Desk.
"Sellers dominated the traditional and crypto markets throughout the week, causing the global crypto and stock markets to continue to fall." The overall crypto market is down nearly 4%, with Bitcoin losing 10% to find a new lower support level and Ether falling 4%. TRX was one of the few crypto assets to trade in green, with a 3.5% increase," said Shivam Thakral, CEO of BuyUcoin.
"The outcome of the Federal Open Markets Committee and press briefing by Fed chief Jerome Powell gave the crypto market a slight boost, as the committee decided to raise interest rates by 50 basis points while also laying out plans to cool inflation."
"The majority of the crypto gains were short-lived, and the crypto market nosedived again after sellers returned to the market," he added.
The top ten cryptocurrencies and their prices as of May 6, 2022 are listed below (data from coinmarketcap.com)
Bitcoin has lost $35960.00, or 8.45%, in the last 24 hours.
Ethereum has lost $2,654.22 (or 7.2%) in the last 24 hours.
Tether has lost $1.00, or 0.00%, in the last 24 hours.
In the last 24 hours, BNB lost $373.22, or 6.27 percent.
USD Coin has lost $1, or 0.01 percent, in the last 24 hours.
In the last 24 hours, XRP has lost $0.6043, or 5.39 percent.
Terra has lost $79.86, or 6.60 percent, in the last 24 hours.
Solana has lost $82.51, or 11.02 percent, in the last 24 hours.
Cardano has lost $0.7923, or 9.66%, in the last 24 hours.
TerraUSD has lost $0.9996, or 0.18 percent, in the last 24 hours.
In the bleach of the crypto market and bearish leak, let me introduce you to a new projects that you should keep your eye on. A project that will moon soon despite the bearish market. The project name is “glitch_guild”
GLITCH_GUILD
Glitch Guild - is a decentralized autonomous
organization (DAO) aimed at fair distribution
The Guild is more narrow-focused: it is responsible for the attraction of freelancers wishing to work
in the field of NFT, as well as participants
wishing to support artists and the project
by taking part in decisions influencing
ADVANTAGES OF GUILD
-he guild can help them learn how to use cryptocurrency and develop an NFT collection
-to expand the audience and help novice artists.
-In the guild, once a decentralized model is built, decisions about the project development are taken based on the opinions and votes of all the participants.
-Creation of a guild where people can get
most of their profits from the guild
treasury.
Who can be part of the glitch_guild?
Anyone can come and become a member of the guild, for example by purchasing an NFT or actively participating in the development of the community.
The core team and the earliest participants
of the DAO will be the first members of the guild and will make their contribution to the first steps of the project. Glitch NFT holders and token holders will eventually
replace the early team as guild
administrators.
What are you waiting for?
Join glitch_guild to learn more.
MAIN CHAT t.me/glitch_guild
ANNOUNCEMENTS : t.me/glitch_guild_ann
TWITTER: twitter.com/GuildGlitch
MEDIUM: medium.com/@GlitchGuild
@Glitch_guild #glitch_guild #glitch #btc #market
