Crypto Price: Cardano, Polygon, And Solana

Today’s crypto market price is drastically falling. Any gains from yesterday’s mini-relief rally were lost due to negative market sentiment. On the last day, the price of bitcoin dropped by 0.5% and over 3% in the previous week. At this time, it is being traded for Rs. 15,75,316. BTC is under a lot of pressure not to drop below the $19,2K threshold. After declining by 0.4% over the previous 24 hours and 3% over the previous seven days, Ethereum once more dropped below the $1.3K mark. The price is currently Rs. 1,06,476.

The altcoin market is still feeling the bulk of the market’s negative pressure. Cardano ($ADA) has dropped more than 4% in the previous day and continues to exhibit astounding volatility. Cardano has lost 11% of its value over the past seven days. It is presently being traded for Rs. 28.04.

The volatility of Solana is comparable to that of Cardano. After declining more than 4% over the previous 24 hours, it is currently trading at Rs. 2318.

Despite significant widespread adoption, Polygon is also feeling the economy’s effects. On the last day, $MATIC lost all of the gains it had made during an unexpectedly strong rally. The price is currently Rs. 67.29.

The biggest loser in the cryptocurrency market was Uniswap. It is now trading at Rs. 500 after falling more than 6% yesterday. For the past two months, the $19,100 level has served as a reliable support level for the price of Bitcoin. At the time of publication, the price of one bitcoin was $19,053, representing a loss of just 0.59% per day and 3.5% per week.

The impact of the general economic unrest is most noticeable in the crypto market. Treasury yields soared as the Federal Reserve maintained its hawkish stance. Additionally, the stock market crashed due to the unpredictability surrounding China. The NASDAQ 100 is down 0.5%, while the S&P 500 is down 0.8%. The stock market, particularly the tech-focused NASDAQ, and the crypto market strongly correlate.