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Cryptocurrency Prices Today June 14: Bitcoin and Ether down nearly 18%, crypto market cap slips below $900 billion

Crypto markets have dived in the past few weeks as rising interest rates and surging inflation prompted investors to ditch riskier assets across financial markets.

June 14, 2022 / 07:59 AM IST

Major cryptocurrencies traded in the red early on June 14 as the global crypto market cap declined 13.74 percent to $895.36 billion over the last day. On the other hand, the total crypto market volume jumped 60.75 percent to $149.45 billion over the last 24 hours.

The total volume in DeFi stood at $10.43 billion, 6.98 percent of the total crypto market 24-hour volume. The volume of all stable coins was $133.37 billion, which is 89.24 percent of the total crypto market 24-hour volume.

The price of Bitcoin hovered around Rs 17.60 lakh, with a dominance of 44.88 percent. This was a 2.43 percent decrease over the day, according to data from CoinMarketCap.

Major U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers on June 13 citing "extreme" conditions.

The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion for the first time since January 2021.

New Jersey-based Celsius, which has around $11.8 billion in assets, offers interest-bearing products to customers who deposit cryptocurrencies with its platform. It then lends out cryptocurrencies to earn a return.

Binance Coin17,195.52-14.02%
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