Cryptocurrency Prices Today May 11: Bitcoin and Ether edge up as Binance and Cardano decline

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Bitcoin’s price is currently Rs 25.55 lakh, with a dominance of 41.81 percent. This was a 0.05 percent increase over the day, according to data from CoinMarketCap.

(Representative image)

Most cryptocurrencies recovered with some trading in the red early today on May 11. The global crypto market cap is $1.43 trillion, a 0.31 percent increase over the last day. The total crypto market volume over the last 24 hours is $156.47 billion, which makes a 14.64 percent decrease.

The total volume in DeFi is currently $21.09 billion, 13.48 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $140.93 billion, which is 90.07 percent of the total crypto market 24-hour volume.

Bitcoin’s price is currently Rs 25.55 lakh, with a dominance of 41.81 percent. This was a 0.05 percent increase over the day, according to data from CoinMarketCap.

In news, crypto assets bled nearly $800 billion in market value over the past month, touching a low of $1.4 trillion on Tuesday, as the end of easy monetary policy diminishes appetite for risk assets.

Bitcoin, which makes up for nearly 40 percent of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $31,450, just six days after touching $40,000. It was more than 54 percent below its Nov. 10 all-time high of $69,000.

Digital asset prices have slumped, mirroring a plunge in equities on fears of aggressive interest rate hikes across the globe to stave off decades-high inflation. The tech-heavy Nasdaq was down 28 percent from its November 2021 record high.

As of 8:15 am on May 11, these are the prices of largest cryptocurrencies (data from WazirX):

NAME PRICE (INR) 24H %
Bitcoin 25,55,382 0.01%
Ethereum 1,93,158.9 1.44%
Tether 81.20 -0.79%
Cardano 51.5809 -1.4%
Binance Coin 26,000.00 -1.92%
XRP 41.8026 1.31%
Polkadot 931.00 1.52%
Dogecoin 8.9609 0.8%

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