Cryptocurrencies are recording strong declines this morning, Thursday, May 12, coinciding with a clear decline in risk appetite in the markets with the opening of the European session, where the Bitcoin currency leads these declines, trading at levels of 27,457 thousand dollars, down by 9.70%, trading at its lowest level since December 2020 with a decline in the market value to 523 billion dollars.

The US inflation data released yesterday, Wednesday, came to a decline, but it was better than the market expectations of 8.3% in April, while expectations were for a decline of 8.1% at the very least. Therefore, it did not play a role in reducing market expectations that the US Federal Reserve would be slow to tighten monetary policy to support the numbers rises.

Currencies and assets of safe havens and cast a negative shadow on the currencies and assets of high risks.

The market value of the cryptocurrency market combined, according to the Coingecko website, which includes more than 13,000 digital currencies, has been declining since the beginning of the session by about 14%, trading at levels of 1.25 trillion dollars, to lose more than 300 million dollars today only.

Ethereum, the second largest digital currency, is down about 16% and is trading at $1.917 thousand, with a market value of $224 billion.

The Dogecoin, in turn, records declines of about 27%, trading at levels of $0.07488, with a decline in its market value to $ 10 billion, while Cardano loses about 22% and is trading at levels of $ 0.4668, and a market value of about $ 14 billion.

The Shiba Inu and Solana coins are among the most affected today, losing about a quarter of their value today, as the Sheba is declining by about 31.70%, trading at levels of $0.0000103 with a decline in the market value to $ 5 billion, while the Solana currency is trading down by about 30.20%, trading at levels of $ 43, with an estimated market value With 14 billion dollars.

The XRP currency, or Ripple, is down by about 22% today, Thursday, and is trading at 0.3834 levels, with a decline in its market value to 16 billion, while Litecoin loses about 20.71% by trading at $ 16 levels, with a decline in the market value to 4 billion dollars.