The total crypto market cap fell below $1 trillion today.
- Crypto prices fell dramatically today, with Bitcoin reaching an 18-month low.
- Ethereum and Solana both fell by around 20% in 24 hours.
- Higher-than-expected inflation figures and Celsius’s suspension of withdrawals were the main drivers.
- Rdao and Contrib Tokens unaffected by Inflation explained.
Crypto prices were in free fall today as the market reacted to successive shockwaves of bad news. The total crypto market cap slipped below the $1 trillion mark. Given that it topped $3 trillion last November, that’s a significant pull back. Prices have recovered a little during the course of the day, but there’s a good chance today’s price drops will make it into the crypto history books.
At one point, Bitcoin (BTC) sank below $23,000, as its 18% drop in 24 hours took it to an 18-month low. Ethereum (ETH) and Solana (SOL) were hit even harder, with both registering drops of around 20%. Cardano (ADA) fared somewhat better, falling around 15%, according to CoinGecko data.
Why crypto prices fell so dramatically
The best way to understand today’s crypto collapse is to think of a snowball gaining weight and momentum as it speeds downward. First of all, higher-than-expected inflation figures sent shockwaves through crypto and stock markets. Then, popular decentralized finance (DeFi) lending platform Celsius announced it would pause withdrawals on the platform. In addition, Binance temporarily halted certain Bitcoin withdrawals for technical reasons, and the head of the Bank of England reiterated his view that crypto investors could lose all their money.
Rising Inflation figures continue while Contrib and Rdao TOKENS remain unaffected?
Just when BTC and Ethereum are dropping and the Crypto Market is at standstill due to Inflation. Rdao and Ctb tokens remain unaffected and Analysts are suggesting that it is actually a good time to Buy-IN.
Let’s take a good look why?!
RDAO under the hood is a hybrid platform of headless cms, and smart contracts that implement token ownership rights using eShares protocol, and our Contrib protocol.
rDAO Token features :
✔️ rDAO token represents our platform’s native utility token with an underlying token pegged to the USD 1:1.
✔️ rDAO is non-inflationary. All tokens have been pre-mined and the supply is fixed (at 1 billion tokens).
✔️ rDAO uses a Proof-of-Contribution model wherein every rDAO token holder is a contributor and every contribution pegged to the US dollar.
In summary rDao is — Inflation proof and Now that it’s getting attention fairly fast we could only suggest that it is the best time to Buy-In and invest.
To Invest and buy rDao click on this link: BUY RDAO NOW