Crypto Market Today - May 29 Update: Bitcoin, Ethereum down; WazirX Token, XMR going up

The cryptocurrency market has grown immensely over the past year, with many cryptocurrencies reaching an all-time high during summer 2021. However, the crypto markets saw a small downturn yesterday, as most major cryptocurrencies and Altcoins dropped in value. The crypto market has not moved much since yesterday. Read on to know the crypto news updates about the changes in the crypto market today. 

Crypto Market Update - Why is Crypto Market Down?

Since the May 19, crypto crash, the crypto markets had recovered significantly, and most coins had risen from their low levels of May 19. However, over the past week, crypto markets and most major cryptocurrencies have been moving sideways and occasionally rising up. Bitcoin has been hovering between $35-40,000 over the past week. There are many factors that influence the crypto markets, and recent news about Biden's new $6 trillion budget to boost infrastructure, has moved a lot of crypto investments into the stock market investments, as per a theory on Reddit. However, experts say this budget will have a positive impact on crypto in the long run. 

At the time of writing this article, Bitcoin stands at a price of $35,479, down from a 24-hour high price of $40,037, which makes Bitcoin down 3 per cent since yesterday. Etherum is also down 2 per cent, from a 24-hour high of $2853 to a low of $2440. Dogecoin is down 1.6 per cent, down from a 24-hour high of $0.34 cents to a low of $0.30 cents. Matic, which has shown immense returns in the past few weeks is down 1.8 per cent, down to $1.8.

Monero (XMR) has seen a positive change, rising 4 per to a price of $274. ZCash is also up by 7 per cent, to a price of $169. Helium which saw a significant rise yesterday is holding a net positive at 2 per cent, at $17.46. ATOM is up by 4 per cent to a price of $13, a welcome change for ATOM investors. Most other cryptocurrencies are down since yesterday but have not dipped significantly lower. Stay tuned for more updates on cryptocurrencies. 

DISCLAIMER: The information provided on this website is for educational and entertainment purposes. The information provided on this website does not constitute investment advice, financial advice or trading advice. Republic World does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial adviser before making any crypto investments. 

IMAGE: SHUTTERSTOCK