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XRP, Dogecoin, and Cardano Collapse 50 Percent, Bitcoin Dominance Soars

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Wed, 05/19/2021 - 13:19
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Alex Dovbnya
XRP, Dogecoin, and Cardano have all collapsed more than 50 percent
XRP, Dogecoin, and Cardano Collapse 50 Percent, Bitcoin Dominance Soars
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"Black Wednesday" is the new "Black Thursday."

The cryptocurrency market is in the middle of a massive meltdown that could rival the pandemic-driven crash that took place on March 13, 2020. Plenty of the top altcoins have erased more than half of their value in less than 24 hours.

ADA and XRP have both plunged below the $1 level. Meanwhile, Dogecoin dipped to $0.21.

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Bitcoin has also tanked to just $30,066 on the Bitstamp exchange, its lowest level since early February, but the top cryptocurrency was not hit even remotely as hard as the top alts.

The king's market share has spiked over 15 percent to a local peak of 46 percent even though the largest cryptocurrency is now down 51 percent from its April 14 all-time high.

Bears trimmed the total crypto market cap to just $1.2 trillion earlier today.

Crypto market cap
Image by tradingview.com
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.