The world’s second most popular cryptocurrency Ether (ether) is also visible away from profits. Gadgets 360’s Crypto Price Tracker It shows that after a loss of 4.80 percent, its price has come to around $ 2,473 (about Rs 1.90 lakh).
Investment in digital assets is declining due to the global economic slowdown. At the same time, the crypto community expects digital assets to be effective in hedging against inflation. Despite this, the perception of risk and volatility around the cryptocurrency remains intact.
Currently, most cryptocurrencies are in losses. These also include Solana, Polkadot and Polygon. Shiba Inu and Dodgecoin popularly known as Mime Coins have also not been able to register any gains. Tether and USD coins have gained marginally, but stable coins such as Binance USD have posted losses.
Stablecoins have suffered despite the US focusing on regulating daily payments. Stablecoins, which are pegged to the US dollar, have been included in US financial systems, according to a new trust act.
Industry experts are predicting a better future for digital assets, given Web3 adoption trends around the world. Recently Mark Zuckerberg has announced that Instagram is testing the NFT integration from this week. The world’s largest tech company Google has also recently launched its Web3 team to capitalize on the growing popularity of crypto.
On the other hand, the total market cap of cryptocurrencies has come down to $1.43 trillion (about Rs 1,10,68,934 crore), which is a huge drop. CoinMarketCap’s accordingOn May 6, the crypto market cap stood at $1.66 trillion. On March 31, it had reached the level of $ 2.14 trillion.
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