Top cryptocurrency prices today: Avalanche, Solana, Polkadot, Cardano shed up to 11 per cent

economictimes.indiatimes.com:

Cryptos have been down in the doldrums since the Terra (LUNA) fiasco, which wiped out $40 billion from the investors' kitty. Rising inflationary worries and concerns over slowing growth are major concerns for riskier assets. Barring the US dollar-pegged USD Coins, all the tokens were trading sharply lower. Avalanche plunged another 11 per cent, followed by a 9 per cent fall in Solana. Polkadot and Cardano dropped 8 per cent each.

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The global cryptocurrency market cap was trading lower at the $1.24 trillion mark, dropping about 4 per cent in the last 24 hours. However, the total cryptocurrency trading volume rose more than 6 per cent to $82.36 billion.Expert takeDespite retail investor sentiment erring on the cautious side, institutional confidence remained strong, said CoinDCX Research Team. «Funding continues to plough into the digital asset sector as seen from Swiss-based investment firm 21Shares launching two crypto funds amidst the digital asset market uncertainties,» it added.Global updates