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Cryptocurrency Prices Today Surge, Terra Plunges 49%

Today, the world’s largest cryptocurrency has surged above $31,000 after bouncing from a brief dip below $30,000 a day earlier. The digital token gained more than 2 per cent to $31,401. The market value of cryptocurrency rose about a per cent in the past 24 hours, to $ 1.5 trillion, according to the pricing from CoinGecko.

Presently, Bitcoin has above 50 per cent lower than its all-time high of nearly $69,000, which hit in Nov 2021 and traded near one-year lows at around 32,000 level.

On the other hand, Ether, the coin linked to the Ethereum blockchain and the second-largest cryptocurrency, also surged about 2 per cent to $2,365. Meanwhile, dogecoin price today was trading over 1 per cent higher at $0.10, whereas Shiba Inu also jumped more than 8 per cent to $0.000016.

Other digital tokens’ performance also improved as Solana, Polkadot, Cardano, Uniswap, Tron, XRP, Avalanche, Polygon, and Stellar prices were trading with gains in the 2-5 per cent over the last 24 hours. However, Terra crashed by over 49 per cent to $14.47.

Crypto assets bled nearly $800 billion in market value over the past month, mirroring a plunge in equities on fears of aggressive interest rate hikes to stave off decades-high inflation.

Digital asset investment products or crypto funds saw net inflows of $40 million last week (30 April to 6 May) even as digital asset prices tumbled amid risk-off sentiment in the broader financial markets, digital asset manager CoinShares said.

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