Crypto On April 12: Market Continues To Plunge But Crypto Keeps On Getting Mainstream

The cryptocurrency market continued to plunge on the second day of the week as top coins Bitcoin and Ethereum slid sharply. However, companies are showing a growing interest in crypto domain hence making the sector more mainstream each passing day.

The global market cap was down 4.82% at $1.85 trillion as of 3.21 a.m. ET, CoinMarketCap data showed.

Bitcoin slid 5.11% to $40,080. According to WazirX's daily analysis, the overall public sentiment for the token has quickly gone to the Extreme Fear level on the Fear & Greed index. The Indian exchange expects an immediate support for BTC is expected at $37,600.

Ethereum, too, plunged 5.08% to $3013. Barring a slight uptick in Tether and USD Coin, all of the top 10 tokens traded lower. Meme cryptos Shiba Inu and Dogecoin too dipped.

Meanwhile, bringing digital assets further into the mainstream, Facebook parent company Meta is building a digital asset economy in the metaverse, enabling creators to earn a living and for users to enjoy digital goods, services, and experiences.

Spotify also continues aggressively hiring Web3 talent and Microsoft strengthens its investments into the sector.

"As pioneers in the digital asset space, crypto companies are already a step ahead of the competition and will likely play an influential role in shaping the Web3 economy as it continues its mainstream appeal impacting everything from fashion to finance," CoinDCX told International Business Times.

In other news, fundraising platform Pledge announced the launch of its crypto donations platform “PledgeCrypto,” which allows nonprofits to accept donations in over 130 cryptocurrencies, including Bitcoin, Ethereum (ETH) and Tether, and instantly convert them to fiat.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.