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Crypto price trends are still bearish as the crypto market cap remains under $1 trillion.
The Bitcoin price is just holding just above $20,000 today. This is after Bitcoin fell to $17,000 on June 18th – the lowest Bitcoin price seen since December 2020. Ethereum is also holding just above $1,075 after falling to $900 on June 18th.
The Celsius token was up 58% yesterday, but today has fallen 29%.
Reversing crypto price trends today is Shiba Inu – up 14% in the past 24 hours. While EverGrow Coin is also up 19%.
Bitcoin has dropped 5% in price today to reach $20,084.
The Bitcoin price rallied from $17,600 on June 18th to over $21,500 on June 21st before correcting today. The current Bitcoin price is the lowest since December 2020.
The same trend in falling crypto prices can be seen in other major cryptocurrency prices: Ethereum, BNB, Cardano, Solana, Polkadot, Avalanche, Litecoin, FTX Token, Polygon & Chainlink are all down over 5% in price today.
The Celsius token hit a macro low of $0.1711 on June 13th.
That was the day Celsius announced it was halting all withdrawals after citing 'extreme market conditions'. Celsius is a popular DeFi staking a lending protocol, which promised users over 17% APY on staked investments largely in Wrapped Ethereum.
But on June 21st the Celsius token rocketed to $1.5366 – an 800% price gain.
The rally came as Twitter users rallied around the #CELShortSqueeze hashtag. This encouraged backers of the project to buy Celsius and withdraw it from key crypto exchanges, thereby driving up the price and blocking attempts at shorting the crypto asset.
Yesterday also saw Celsius propose recovery plans, while payment of $10 million to Compound was also noticed on the Ethereum blockchain.
Today, the crypto price of Celsius has corrected to $1.07 – a 29% drop in price.
Shiba Inu surged 44% in price over a period of a few hours yesterday.
Shiba Inu (SHIB) was trading at $0.00001175 on June 21st. This is a price not seen since May, and up from a Shiba Inu macro low price of $0.000007273. During the surge Shiba Inu flipped UNUS SED LEO, Wrapped Bitcoin, Avalanche and TRON to sit at 13th place in the crypto rankings.
Behind the sudden surge were comments by Tesla CEO Elon Musk, who told Bloomberg in Qatar that was 'personally supporting Dogecoin'. This caused both Dogecoin and Shiba Inu to surge in value.
Shiba Inu has also emerged as the second-largest holding among Ethereum whales. These investors hold on average $14 million in their wallets.
Today, the price of Shiba Inu is $0.000009422 and is up 14% in the past 24 hours.
EverGrow Coin has also rocketed 19% in price over the past day.
The price of EverGrow Coin is $0.0000001682. When compared with the macro EverGrow Coin low of $0.0000001149 on June 18th the EverGrow Coin pump is as high as 46%.
EverGrow Coin is leading a crypto trend towards reflection tokens, which offer more robust and scalable DeFi solutions for yield generation on crypto investments. Whereas the Celsius platform put users' money into other DeFi platforms to pay high fixed APYs, the EverGrow Coin model is based on a transaction tax.
From a 14% total transaction tax, 8% is redistributed as BUSD to investors, 3% is used for liquidity on PancakeSwap, 2% is set aside for buyback & burn and 1% is used for marketing.
To date EverGrow Coin has paid more than $37 million to investors since launching in September last year. It has also burned 53% of its initial token supply.
EverGrow Coin is now ready to drop its first utilities – an NFT marketplace & content subscription platform – to ensure higher trading volume tied to real-world value.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
