Crypto Ping Pong. Red Market

BTC is now trading above $22,500 ETH is trading around $1,200.

💪 Bitcoin dominance: 46%

📉 Total Cryptocurrency Market Cap: $0,928 tr

😲 Fear and greed index: 8 (Extreme Fear)

🚀 Gainers(Top-100)

Bitcoin SV (BSV) +18,61%

Gala (GALA) +18,12%

Fantom (FTM) +18,08%

😭 Losers(Top-100)

Monero (XMR) -14,49%

Klaytn (KLAY) -12,36%

Bitcoin (BTC) -10%

Crypto.com Lays Off 5% of Corporate Staff, Citing 'Market Downturn'

Crypto.com will ❌ lay off 260 people, or 5% of its corporate workforce, as the markets continue to head into 📉 a downturn, CEO Kris Marszalek said in a tweet on Saturday.

In a Twitter thread, Marszalek described the layoffs as a "difficult and necessary" decision to "ensure continued and sustainable growth for the long term." The CEO also referenced the current "market downturn," alluding to the 2018 crypto bear market and the company's "focus on building" during the 2018-19 crypto winter.

Crypto’s Total Market Cap Slips Below $1 Trillion as Bitcoin Drops Under $24,000'

In another sign of the fast approaching crypto winter, the combined market capitalization of all cryptocurrencies 📉 crashed to $969 billion on Monday, data from CoinMarketCap shows.

The plunge of more than 12% over the last day amid a wider market rout has taken the total market cap of all cryptocurrencies to levels 😲 not seen since February 2021, nearly 18 months ago.

Dogecoin Down Over 90% Since Elon Musk's SNL Appearance

Last May, as Dogecoin’s price approached an all-time 📈 high of $0.72, the cryptocurrency’s devoted fan base hoped that Dogecoin superfan Elon Musk’s upcoming appearance on "Saturday Night Live" would shoot the joke coin’s value 🌑 "over the moon."

In the year since, its price has instead cratered back down to 🌍 Earth. As of this writing, DOGE is currently valued at a little over $0.06, 📉 down almost 91% since the eve of Musk’s SNL appearance on May 8, 2021.

Bitcoin Plunges Below $25K, Lowest Level Since December 2020

Bitcoin (BTC) 📉 plummeted below $25,000 Monday amid weakness in the macroeconomic environment and systemic ❗ risk from within the crypto market, data shows. The asset has slid for nearly 12 straight weeks, 📉 falling from nearly $49,000 in March 2022 to under $25,000. It showed some signs of bottoming out in mid-May, but worrying U.S. inflation data released last week did little to cushion falling sentiment.

According to price charts, bitcoin had 💪 strong support at the $29,000 mark, but the fall below that level now means that the cryptocurrency could drop to its 2017 high of nearly $20,000.

Binance Resumes Bitcoin Withdrawals After Pause

💪 The world’s largest crypto exchange by trading volume, Binance, ✔️ resumed withdrawals of bitcoin (BTC) after a pause early Monday, the company said. The problem was “due to a stuck transaction causing a backlog,” according to a tweet from CEO Changpeng Zhao.

It was originally expected to be ✔️ fixed in about 30 minutes, according to the tweet at 12:00 UTC. Minutes later, however, he said ❌ the issue was going to take a bit longer to resolve. The Binance withdrawal ⏸️ pause comes close on the heels of crypto lending network Celsius announcing Sunday night that it was suspending withdrawals, which caused a further cascade lower in crypto prices, with bitcoin (BTC) on Monday morning trading 📉 below $24,000.

Desperate Celsius Users Face Liquidations as Crypto Market Tanks

Some users of Celsius (CEL), a troubled major crypto lender, are facing ❌ liquidations of their trading positions as the crypto market 💥 crashes and industry players discuss (in)solvency of Celsius and chances to sue the company.

To make things worse, the company has also ❌ suspended withdrawals, Swaps, and transfers between accounts, hindering even those users who have sufficient capital from repaying or adding a margin to their positions.

Top NFT Collections See Price Crash Amid Crypto Market Panic

The floor prices of some of the top non-fungible token (NFT) collections are 💥 crashing in the market, both in ethereum (ETH) and US dollar terms.

😥 The crash in NFT floor prices has accelerated over the past week for all three of today’s top NFT collections by trading volume; Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and CryptoPunks, data from DappRadar showed on Monday.

Conclusion: Now we are seeing a very unstable situation in the market. It seems that the volatility of cryptocurrencies and NFTs may increase even more.

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What is Crypto Ping Pong digest?

So all the TC lads here are working quite hard and from time to time we gotta chill.

That’s why we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

During the game, we have a rule not to discuss serious topics like analytics, predictions, etc.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.