Prices of Bitcoin and Other Cryptocurrencies Crash

The prices of Bitcoin fell below forty thousand dollars after a flat trading. As the global crypto market gyrates in a volatile mode; Ethereum, another important cryptocurrency also went down.

In April, Bitcoin was seventeen percent down. According to the data by Coin Desk, in November last year, world’s most popular cryptocurrency fell as much as forty-four percent and reached the all-time high valuation of sixty-nine thousand US dollars. There could be a decisive breakout or a breakdown in BTC according to claims made by market experts. Ethereum, the second biggest cryptocurrency by the capitalisation of market, dropped below the mark of three thousand US dollars.

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Prices of Bitcoin

Recently, Ethereum’s price got down by the percentage of 0.90 at 2,841 US dollars. The price of BTC stood at 38,515 US dollars as it went down by 0.90 percent. 

Solana fell by the percentage of 2.39 while XRP got down by the percentage of 1.78. Stellar lost a percentage of 1.18 and Cardano declined a percentage of 0.78.

Dogecoin got down by the percentage of 1.64. The other coins of alt including Shina Ibu lost a percentage of 3.24 and Polkadot went down by the percentage of 3.12.

Polygon went down by the percentage of 1.69 and Chainlink fell down by a percentage of 0.37. Tron, Axie Infinity and Uniswap lost a percentage of 5.38, 4 and 0.71 respectively.

Nirmala Sitharaman, the Finance Minister of present India announced last week that a considerate decision on the regulation around virtual currencies would be taken by India. It was during an interaction at Stanford University and she also said that this decision on crypto will not be rushed through at any cost. She declared that it will need to take its own time while all the people become sure about the decision with an available given information at the least.

On Otherside, there was a launch of deeds for virtual land plots last weekend. It is a game created for the metaverse. It garnered NFT sales worth of millions of dollars and Ethereum network was deeply influenced by this. Trending record on a daily basis for OpenSea has also been prompted by it since. More than four hundred and 76 US dollars’ worth of trades for Ethereum NFT was registered by OS on 1st May, Sunday. It followed the late inauguration of Otherside on Saturday. This is based on data that were obtained from people of Ethereum block chain by Dune, an analytics platform. Set in the year of 2021, on 29th August, the last one-day record for OS was almost three hundred and twenty-three million US dollars. Other deeds, which is Other side’s virtual NFT plots of land, have dominated trading of NFT since the launch.

The operation has garnered almost five hundred and fifty-nine million US dollars’ worth of sales that are related to a secondary market since the first evening of the weekend, according to CryptoSlam.

On the other hand, the interest of NFT based on the number of unique buyers and sales skyrocketed in January last year. But unfortunately it started to drop. The unique buyers dropped to 700,000 in April this year from a million in January. Sales fell to 3.13 billion US dollars last month from 4.64 billion US dollars last January. However, we hope to see a significant change in these prices in the near future.