The cryptocurrency market seems to be facing some challenges. Following last week’s incredible surge, BTC’s price soared to $69,200, but then dropped sharply to $59,500. The price has since risen to $67,000 and is still fluctuating today.
The cryptocurrency market appears to be facing some challenges. Following last week’s incredible surge, BTC’s price soared to $69,200, but then dropped sharply to $59,500. The price has since risen to $67,000 and is still fluctuating today.
After taking Bitcoin, the undisputed leader of cryptocurrencies, from the $50,000 level to an all-time high of $69,200, what’s going on right now Seems very unstable. Although the price has moved back above $66,000, the previous excitement has faded. The drop in Bitcoin price to $59,500 has caused serious concern among market participants.
As of this writing, Bitcoin price is up 0.73%, trading at just over $66,000. On the other hand, the market value of BTC is also approaching the US$1.3 trillion mark with an increase of nearly 1%. Meanwhile, BTC trading volume fell by 35% to $65 billion.
Leader among AltcoinsETH fell below $3,800 today after topping $3,900 yesterday. As of this writing, ETH is trading at $3,791. Solana currently leads the top 10 altcoins by volume, with SOL growing by 8% to cross the $138 mark.
Today’s loser is memecoin. The prices of SHIB and DOGE fell sharply. The prices of SHIB and DOGE are $0.00003013 and $0.1504 respectively. These declines could be explained by investor interest shifting to other cryptocurrencies after the meme coin’s surge.
Looking at the ranking of the highest-earning altcoins in the past 24 hours, artificial intelligence coins completely dominate the list. At the top of the list, Fetch.ai has grown 41% in the past 24 hours to $2.64. FET's market capitalization is $2.2 billion, while its 24-hour trading volume surged 103% to over $1.2 billion.
Meanwhile, Rendering is second on the list. RNDR found buyers at the $9.87 level after rising 38.8% in the past 24 hours. Its market value has approached US$3.7 billion, and its trading volume has increased by an incredible 195%, exceeding US$1 billion.
Finally, NEAR Protocol is up 33% and is currently trading at $5.62, taking its market cap to $1.633 billion.
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