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Crypto Assets price Updates (28-May): BTC Forming Descending Triangle

28-May-2022 By: Shikha Jha
Crypto Assets price

Crypto Assets price Updates (28-May): BTC Forming 

Descending Triangle, Fears in Market.

The crypto market cap was $1.24 trillion at the time of writing, up 6.06 per cent from the previous day, according to CoinGabbar

Bitcoin started the day candle below $29,000, indicating that cryptocurrency values have dropped today. At $28,800, the world's largest and most popular cryptocurrency was trading. The token has lost 37% of its value this year and is now only a fraction of what it was worth in November 2021, when it peaked at $69,000.

Terra's operators authorised a plan to start anew on a fresh blockchain on Wednesday, but investors in the rest of DeFi were sceptical. A flaw in the process of making the Ethereum network less energy-intensive compounded the problem.

As a result of Terra's collapse, demand for blockspace on the Ethereum network has decreased dramatically, lowering the network's so-called gas prices.; But The Terra Governance vote to burn 1.3 billion UST has overwhelmingly valuable responses.

The total cryptocurrency market volume surpassed $83.2 billion in the last 24 hours. DeFi's overall volume was $8.2 billion, up 14.2 percent from the previous day. Stable coin volume was $64.79 billion in a 24-hour period. Bitcoin's dominance as the most valued crypto asset fell by 1.2 percent to 43.13 percent over the day. Bitcoin's price has dropped 1.3 percent in the last seven days. At the time of writing, Bitcoin was valued $28,800.

Bitcoin forming Descending Triangle pattern which usually breaks the pattern downward. Extreme Fear sentiments in market.

Top Crypto Rates

Ethereum (ETH): Ethereum price rise by 2.12% and it closed the day candle below $1,750. In the last 7 days, ETH price has decreased by 10.4%, currently trading at $1,763. Ranked 2nd according to CoinGabbar.

Binance (BNB): Binance Chain coin’s price rise by 0.3% to $302 in the last 24 hours. In the last 7 days, BNB price has increased by 0.4%. Ranked 5th according to CoinGabbar.

XRP: XRP coin’s price rise by 1.03% to $0.3858 in the last 24 hours. In the previous 7 days, XRP rate has fall by 9.57%. Ranked 6th according to CoinGabbar

Solana (SOL): Solana price rise by 1.58% to $41.75 in the last 24 hours. In the last 7 days, SOL price has decreased by 19.8%. Ranked 9th according to CoinGabbar.

Cardano (ADA): Cardano token’s price rise by 0.77% to $0.4608 In the last 24 hours. In the last 7 days, ADA price has decreased by 12.46%. Ranked 8th according to CoinGabbar.

Popular meme coin Dogecoin’s (DOGE) price rise by 1.1% to $0.0825 in the last 24 hours. Ranked 10th according to CoinGabbar.

Prices of Polkadot (DOT) rise by 1.21% to $9.23 while Avalanche (AVAX) decreased by 2.24% to $23.15. Ranked 11th and 15th according to CoinGabbar.

Polygon (Matic) price rise by 1.23% to $0.581 in the last 24 hours. Ranked 21th according to CoinGabbar.

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