With consumer prices rising and the Federal Reserve raising interest rates strongly to combat inflation, the cryptocurrency market, like stocks and other assets, was hit hard on Saturday. On June 18, major cryptocurrencies were trading in the red, with the global crypto market worth $843.56 billion, down 6.50 per cent from the previous day. According to CoinMarketCap statistics, the global crypto market volume for the previous 24 hours was $68.48 billion, a 6.70 per cent decline compared to the previous day. Bitcoin, the most valuable cryptocurrency, has dropped below $20K, trading at $19,162.89, down over 8%. Bitcoin dropped to a low of $18,849.5 on an intraday basis, the lowest level since December 2020. The largest cryptocurrency, Bitcoin, has a market valuation of $365,960,496,453.18 at the time of writing, down 7.88 per cent. Ether (ETH), the second-largest crypto by market cap, fell 8.30 per cent in a day and settled at $1,001.80, while ETH has down 35.96 per cent in the previous seven days and Bitcoin has dropped 33.03 per cent, making them the top losers in the crypto market by market cap. DeFi now has a total volume of $4.80 billion, accounting for 7.03 per cent of the total 24-hour volume in the crypto market. The overall 24-hour volume of all stable currencies is currently $61.21 billion dollars, accounting for 89.65% of the total crypto market volume, according to CoinMarketCap's data.

Top 5 losers by market cap

Tether, among the top 5 largest cryptocurrency with a market value of $68,151,602,531, fell 0.02 per cent today and ended at $0.9987. It has a market cap of $68,151,602,531. BNB, which has a market cap of $33,098,821,285 has lost 5.91 per cent in today's session to end at $202.17 and has lost 26.63 per cent in the past seven trading days. Binance USD, which has a market capitalization of $17,606,799,870, has dropped 0.13 per cent to $1.00 and has lost 0.07 per cent in the previous seven trading days. Cardano, which has a market valuation of $15,813,818,188, has dropped 3.54 per cent in the previous 24 hours and 18.30 per cent in the last seven trading days.

Top 5 gainers by market cap

USD Coin, with a market valuation of $55,314,067,503, is the top winner among the top 5 selections. This cryptocurrency gained 0.02 per cent and settled at $1.00, and has gained by 0.01 per cent in the past seven days. TRON is the gainer with a 1.73 per cent rise at $0.06049 with a market cap of $5,604,592,159 at the time of writing this report. Then there's Dai, which is up 0.03 per cent with a market cap of $6,808,899,758 and a last traded price of $1.00. With a last traded price of $121.26 and a market cap of $2,296,231,034, Bitcoin Cash is one of the top winners by market cap, with a 10.29 per cent upside gap. Theta Fuel, with an upside gap of 21.76 per cent and a last traded price of $0.0563 with a market cap of $298,452,608, and Quant, with an upside gap of 13.79 per cent in 24 hours and a last traded price of $49.30 with a market valuation of $598,434,605, are the day's last two biggest winners.