Crypto Price Today Live: Polygon, Solana, Avalanche, Cardano plunge up to 15%

economictimes.indiatimes.com:

Barring the US dollar pegged Tether, all the top crypto tokens were trading lower on Thursday. Polygon and Solana plunged about 12 per cent each. Avalanche and Cardano tumbled 9 per cent each. The global cryptocurrency market cap was trading lower at $1.02 trillion mark, falling more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume plunged over 5 per cent, close to $96.02 billion.

Did you Know?

The Shiba Inu team launched a burn portal to help address the issue of the massive supply of SHIB tokens As of June 29, 2022, more than 400 trillion tokens have been burned to cap supply

Expert takeOwing to the institutionalisation of crypto and digital assets, we have noticed less exaggerated selloffs and a gradual decrease in volatility over time, said CoinDCX Research Team. «We believe crypto is currently going through a consolidation phase and this thesis is also supported by the fact that over $10 billion worth of BTC has recently left exchanges signalling major accumulation amidst seller exhaustion trends,» it added.Global updatesTesla sold a significant chunk of its stake in Bitcoin. “As of the end of Q2, we have converted approximately 75 per cent of its Bitcoin purchases into fiat currency,” Tesla said in a shareholder letter Wednesday during company’s earnings report. The Zipmex cryptocurrency exchange on Wednesday blocked users from taking direct custody of their coins, citing volatile market conditions. Publicly traded cryptocurrency exchange Coinbase had no financing exposure to crypto lender Celsius Network, hedge fund Three Arrows Capital or crypto broker Voyager Digital, according to a Coinbase blog post on Medium. Regulators in the UK are introducing