TL;DR Breakdown
- The price of Bitcoin has dropped by more than 3%.
- A significant drop in the value of Ethereum.
- Solana is bearish; lost more than 4% value.
- Shiba Inu’s market value increased to $0.00003045.
The abrupt and extraordinary decline in the global crypto market value has reached every corner and crevice of the crypto sector. If just yesterday, the global crypto market value had been at a peak of $2.65T, and today, it is only $2.18T, how could it have been possible?
The last 24 hours have seen no improvements in the value of any of the tokens, after the massive loss in value. Except for Tether and USD Coin, the value of all other stablecoins has plummeted, as expected. Investors are left wondering how this bearish run hit so quickly and quietly when the rest of the currencies’ prices have been in shambles all night.
The price of Bitcoin has dropped by more than 3%
There’s been a lot of talk about Bitcoin lately. The Bitcoin price has plunged to $42,235 owing to a 3.3% loss in the previous hour.
This amounts to $23 billion being traded globally. Institutional and small investors alike have been trading furiously to take advantage of the current cheap pricing. Bitcoin’s market capitalization has dropped to 798 billion dollars.
If you’re late to the game, this is a good time to buy BTC since prices are still hovering around $42000; Bitcoin does not seem to be letting go of its bearish runs just yet.
A significant drop in the value of Ethereum
It’s been about a year since Ethereum took first place in the altcoin market with the highest prices and trading volumes. Investors had hoped that by the end of the year, these Ethereum would shatter their respective records of $4.85k.
To be sure, the negative trend has hit all coins, making it harder and harder for Ethereum to trade at high prices despite its record-breaking trading volumes. The trading volume of Ethereum has increased to $15,462,694,592 USD, the current Ethereum price is $2,996.97.
Solana is bearish; lost more than 4% value
Solana has been on the market for almost a year and has seen a huge boost in its value. The market is bearish and as a result, Solana’s price has plummeted to $97, or a 2.64 percent reduction in value. Market capitalization has fallen to $31 billion.
According to Solana’s price projection, Solana’s short-term trades are lower than projected but with good momentum. The numerous cryptocurrency experts’ Solana price estimates do not stop Solana from surpassing its competitors. The Solana market has raised prices, as have decentralized exchanges, NFT markets, yield aggregators, and online games.
Shiba Inu’s market value increased to $0.00003045
In the current day’s trading session, the live Shiba Inu price is $0.00003045 USD, with a 24-hour trading volume of $1,790,139,820 USD. During the previous 24 hours, the Shiba Inu has gained 0.28 percent of its value.
The current CoinMarketCap ranking is #14 with a live market capitalization of $16,521,695,402 USD. It has a current circulating supply of 549,063,278,876,302 SHIB coins.
Final Thoughts
Nobody anticipated prices to drop this low in such a short period of time. In a matter of time, Bitcoin’s value plummeted from a high of $69,000 to a low of $33k, eliciting mixed emotions of investors. However, Bitcoin has recovered much up till now.
Upon closer inspection, however, it is noticed that the crypto market has seen almost no price declines. When bearish months endure roughly a month, they are followed by strong bullish streaks lasting two to three months. As a result, we’re holding out hope that things will be the same this time around and that the values of our most valuable coins will progressively rise.
