Crypto Market Update: Bitcoin Falls to $65K, ETH at $3300, Pepe Coin Plunges 20%
The cryptocurrency market experienced a bearish turn as Bitcoin (BTC) continued to decline, reaching the $65,000 level again after a bounce-back on Monday. Ethereum (ETH) also saw a drop below the $3,400 mark, while other top altcoins including XRP, Cardano (ADA), and Solana (SOL) experienced significant dips in value.
Bitcoin’s price fell by 4.56% to $65,321.09, with a trading volume increase of 24.12% to $55.02 billion in the last 24 hours. Its market cap currently stands at $1.28 trillion.
For altcoins, Ethereum’s price plummeted by 6.53% to $3,383.23, with a market valuation of $405.08 billion. ETH saw its trading volume increase by 20.67% to $24.04 billion.
Solana’s price dropped to below $190 after briefly surpassing $200. It slumped by 7.69% to settle at $187.16, while its trade volume increased by 8.42% to $11.60 billion.
Binance Coin (BNB) fell by 6.69% to $529.12, although its 24-hour trade volume saw a 12.36% gain to $4.09 billion. XRP also dropped to the $0.60 level, recording a dip of 2.50% to $0.6065. Its trading volume spiked 85.67% to $3.32 billion.
Cardano’s price tumbled 6.85% to $0.629, but its 24-hour trading volume increased by 13.20% to $876.94 million. Meme coins were not spared from the bearish sentiment, as Dogecoin fell by 11.38% to $0.1342 and Shiba Inu dropped by 11.04% to $0.00002559.
In addition to the major cryptocurrencies, Pepe Coin (PEPE), a meme crypto, experienced a massive crash, with its price plunging by 20.49% to $0.000006184. Its market valuation currently stands at $2.61 billion, with a 24-hour trade volume decrease of 14.61% to $1.08 billion.
On the positive side, Fantom (FTM), a DeFi crypto, emerged as the top gainer in the market, surging by 6.82% to $0.8877. Its trade volume also increased by 78.25% to $670.35 million, with a recent high of $0.94.
Overall, the cryptocurrency market continues to experience volatility, with fluctuations in prices and trade volumes across various cryptocurrencies. Investors and traders are advised to closely monitor market movements and adjust their strategies accordingly.