Crypto Market Update: Bitcoin Retraces to $68K, Ethereum at $3,800, SOL, XRP, PEPE Experience Downturn
In today’s crypto market update, Bitcoin (BTC) experienced a slight decline, dropping to $68,000 from its recent peak of $70,000. Similarly, Ethereum saw a decrease in value, falling below the $3,900 mark. Other prominent altcoins such as Solana (SOL), XRP, and Cardano (ADA) also dipped in price.
Here’s a breakdown of the major crypto prices today:
Bitcoin managed to maintain a position above $68,000 despite the pullback. At the time of writing on March 11, the Bitcoin price was down by 1.50%, settling at $68,508.25. Its trading volume, on the other hand, experienced a significant surge of 43.47%, reaching $36.63 billion in the last 24 hours. Additionally, Bitcoin boasted a market cap of $1.34 trillion.
In the altcoin arena, Ethereum witnessed a 2.54% drop in price, reaching $3,854.68 at press time. Its market valuation stood at $462.93 billion, while its trading volume increased by 37.73%, totaling $17.60 billion. Interestingly, Binance Coin (BNB) defied the bearish trend and surged by 5.61%, reaching $521.25. Furthermore, its 24-hour trade volume spiked by an impressive 127.41% to $5.71 billion.
Solana, one of the top altcoins, faced a slight setback, dropping by 4.05% to settle at $141.35. However, SOL experienced a 35.39% increase in trade volume, amounting to $3.95 billion in the last 24 hours. XRP, on the other hand, experienced a dip below $0.62, with a 2.52% decrease in price, reaching $0.61. Nonetheless, XRP’s trading volume increased by 11.98% to $1.76 billion.
Cardano witnessed a 2.99% decrease in price, settling at $0.7142 for the day. However, ADA recorded a noteworthy 19.48% increase in its 24-hour trading volume, reaching $723.09 million. While the top cryptocurrencies experienced some fluctuations, popular meme coins also followed suit. Dogecoin slipped by 5.84% to $0.1681, while its rival, Shiba Inu, plummeted by 7.35% to trade at $0.00003242.
Notably, the meme coin Pepe Coin (PEPE) faced a significant slump today. The Pepe Coin price dropped by 8.89% to $0.000008381, with a market valuation of $3.53 billion. Additionally, its 24-hour trade volume decreased by 20.23% to $1.26 billion.
In contrast, Pyth Network (PYTH), a trending crypto, experienced an impressive surge of 20% and ranked among the top crypto gainers. The PYTH price soared by 19.78% to $0.8291, and its trade volume skyrocketed by an astonishing 317.39% to $513.31 million. The PYTH Network crypto recently reached a new all-time high of $0.8934 during the rally.