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BTC is below $18,500, ETH in staking has lost half its price, and USDT capitalization is below $70 billion – News

Another round of the decline in the cryptocurrency market led to the fall of bitcoin below $ 20,000. Now the price of the main cryptocurrency is hovering at $ 18,400.

The price of Ethereum, the second largest cryptocurrency by market capitalization, also declined, hitting a low of $951.

Moreover, according to GlassnodeEthereum is currently trading 30% below its realized price, i.e. the average value of the coins at the time of the last transaction. At the same time, ethers in ETH 2.0 staking are now on average 50% cheaper than when they were sent there. (Staking is a way of passive income, in which users store coins on the Proof of Stake (PoS) algorithm and ensure the blockchain’s performance).

The number of ETH addresses in profit hit a 23-month low of 51.675%. But despite the sharp drop in the price, the price of gas is relatively low, indicating low on-chain activity associated with the DeFi segment. The total TVL (Total Value Locked – the total amount of funds locked in the DeFi protocol) has decreased to $71 billion, which is comparable to March 2021. In relation to the peak values ​​of early December (>$250 billion), the indicator fell by 71%.

The market value of USDT stablecoins issued by Tether has fallen to $68.5 billion, the last time such a value was observed in October 2021. Before the collapse of Terra, the figure was $83.42 billion (as of May 1). According to CoinGeckothe capitalization of Tether’s competitor – USDC Coin (USDC) – exceeded $55 billion. The stablecoin overcame the $50 billion threshold from May 13 to May 14.

Over the period under review, USDT dominance decreased from 50.9% to 45.7%, while USDC’s market share increased from 30% to 36.2%.

BTC is below $18,500, ETH in staking has lost half its price, and USDT capitalization is below $70 billion

Несмотря на это Чанпэн Чжао, генеральный директор криптобиржи Banaince, oтмeтил, чтo pынoк кpиптoвaлют pacтёт и paзвивaeтcя, и нaпoмнил, чтo в 2017 гoду, кoгдa Биткoйн выpoc дo $20 000, мнoгиe cчитaли, чтo эта цeнa бeзумнo высока, а в 2022 гoду oнa вocпpинимaeтcя as “painfully low”. The CEO of the world’s largest exchange is still optimistic about the future of the crypto market.

BTC is below $18,500, ETH in staking has lost half its price, and USDT capitalization is below $70 billion

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