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BTC, ETH, ADA Increase Despite Decline Across Global Stock Markets

Immutable

Bitcoin gained more than 4% to $57,500 amid the growing decline across global stock markets. Tech stocks have been recording losses as Taiwan posted its biggest one-day loss in history. Bitcoin, on the other hand, is climbing.

Formerly, Delta Exchange CEO Pankaj Balani had said that Bitcoin could fall to $40,000. At press time, however, BTC is trading at $54,924. 

On the 11th of May, Rekt Capital posted a chart, saying, “BTC is bouncing here and altcoins are recovering strongly.”

Ethereum has followed Bitcoin’s increase and hit a new high of $4,350 on the 12th of May. ETH is currently up 1.28% to $4,095.79. 

As the alt season continues, other cryptocurrencies apart from BTC and ETH are also increasing. Cardano (ADA) traded as high as $1.82 in the last 24 hours, 0.01% away from its all-time high of $1.83. 

Dogecoin and Shiba Inu were recently in the spotlight as the tokens pulled in gains amid increasing trading volume. However, the meme-coins are currently on a decline. DOGE has fallen nearly 10%, and SHIB is down 36.51% at press time. In addition, Shiba Inu also fell off the top 20 crypto asset list ranked by market cap. SHIB is now in the 26th position according to CoinMarketCap. 

Image Credits: Pixabay

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