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Bitcoin drops to $68,000, ETH drops to $3,600, XRP and Dogecoin collapse
Why did the cryptocurrency market collapse today? The global cryptocurrency market saw a sharp decline within an hour over 300 million dollars are liquidated within this time. At the time of writing, the total cryptocurrency market capitalization fell 3.9% to $2.53 trillion.
However, according to CoinMarketCap data, trading volume increased by 43% to $103 billion. Stablecoin trading volume accounts for more than 94% of total trading volume. In this post we will focus on the prices of major coins such as Bitcoin (BTC), Ethereum (ETH), XRP and Dogecoin. Let’s take a look.
Update of the prices of the main cryptocurrencies
THE price of Bitcoin (BTC), the flagship cryptocurrency, has fallen 2.75% over the past 24 hours to settle at $68,154. Furthermore, its trading volume in the recorded period increased by 48% to $36.6 billion. Bitcoin has traded between lows and highs of $68,856.25 and $71,931.28 over the past 24 hours with a real market capitalization of $1.36 trillion.
On the altcoin front, the Ethereum price (ETH) has fallen by 3.87% in the last 24 hours, changing hands at $3,692. Just like BTC, ETH’s 24-hour trading volume increased by 39.95% to $18.3 billion with a real market cap of $443.5 billion. Specifically, ETH traded in the $3,642.09 – $3,844.40 range.
According to the latest data, the trend coin XRP has entered a nosedive. THE XRP price at the time of writing it is $0.49, or a decline of 5.87% over the last day. XRP trading volume skyrocketed by 100% during this period to reach $2.3 billion. Additionally, XRP has changed hands between $0.4762 and $0.5281 over the past 24 hours.
Leader in the memecoin market, the Dogecoin price (DOGE) fell 9.11% to trade at $0.14. Interestingly, DOGE-related trade activity decreased by 78% to $1.5 billion intensified whale activity on the last day. DOGE has traded between $0.146 and $0.1621 over the past 24 hours, representing a 79.7% decline from its all-time high of $0.73 reached in May 2021. Dogecoin has seen the most losses among the top 10 cryptocurrencies by market capitalization.
Other coins such as Shiba Inu (SHIB) and Binance Coin (BNB) fell 5.95% and 3.09% to trade at $0.00002366 and $677, respectively. This recent violent bloodbath in the cryptocurrency market has raised concerns about the possible reason for the collapse.
Trendy gainer
Meanwhile, while most coins on the market are trading in the red zone, some tokens are recording impressive gains. Some of these tokens are;
Ponke (PONKE), a new digital gaming asset created on the Solana network, skyrocketed 18% to its trading price $0.43.
Ultiverse (ULTI)an AI-powered gaming token grew 7.6%, changing hands $0.06.
Main road (HIGH)the native token of a decentralized, commerce-based metaverse, jumped 18.12% to $8.48.