Price: $0.40188 4.5479%
Market Cap: 59.03B 1.8087%
Volume (24h): 10.89B 0.4%
Dominance: 1.8087%
Price: $0.40188 4.5479%
Market Cap: 59.03B 1.8087%
Volume (24h): 10.89B 0.4%
Dominance: 1.8087% 1.8087%
  • Price: $0.40188 4.5479%
  • Market Cap: 59.03B 1.8087%
  • Volume (24h): 10.89B 0.4%
  • Dominance: 1.8087% 1.8087%
  • Price: $0.40188 4.5479%
Home > Information news > Cryptocurrency Prices Tumble as Major Tokens Record Losses

Cryptocurrency Prices Tumble as Major Tokens Record Losses

Release: 2024/04/02 17:42 Reading: 491

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/660bc331da3f8037948c9ef5

Cryptocurrency Prices Tumble as Major Tokens Record Losses

You can also read this news on BH NEWS: Cryptocurrency Prices Tumble as Major Tokens Record Losses

A significant price drop has been observed in the cryptocurrency market, with major tokens like Bitcoin, Ethereum, and various altcoins experiencing declines. Bitcoin’s price, in particular, has retracted to the $66,000 mark, while Ethereum slipped below $3,400. This downtrend is replicated across other leading cryptocurrencies such as Solana, XRP, and Cardano, which have all seen their values decrease notably.

Major Cryptocurrencies Take a Hit

Bitcoin’s value saw a 5.60% decrease, settling at $66,558.68, yet its trading volume surged, increasing by over 100%. Ethereum experienced a 6.70% fall in price, trading at $3,365.39 with a heightened trading volume up by 76.69%. These movements signify a volatile market state, as trading volumes grow amid declining prices. Altcoins like Binance Coin and Solana also experienced a drop, with Binance Coin decreasing by 5.83% and Solana by 8.70%, both witnessing an increase in trading activity as well.

XRP and Cardano are not exempt from the trend, with XRP’s price falling to just under $0.60 and Cardano’s decreasing by 7.57%. The market seems to be in a state of increased liquidity, with trading volumes for these cryptocurrencies rising significantly despite the downturn in prices.

Dip in Meme Token Values

The popular meme-based cryptocurrencies, Dogecoin and Shiba Inu, have also succumbed to the market’s downward pressure. Dogecoin dropped by 12.80%, while Shiba Inu’s value fell by over 10%. Another meme token, Pepe Coin, lost 15% of its value, although its trading volume slightly increased. In stark contrast, the Core (CORE) project has seen an impressive rally, with a 38% increase in price and a substantial rise in trading volume, making it one of the few tokens to defy the overall market slump.

Points to Take into Account

  • Bitcoin and Ethereum, despite being market leaders, are not immune to significant price fluctuations.
  • Altcoins tend to follow the trend set by Bitcoin and Ethereum, often with even greater volatility.
  • An increase in trading volume amid price drops may indicate a high market liquidity or potential investor interest in buying at lower prices.
  • Meme-based cryptocurrencies, while popular, are subject to extreme price volatility, highlighting the risks associated with these assets.

The current dip in cryptocurrency valuations reflects the market’s volatile nature and emphasizes the importance for investors to remain vigilant. While some assets experience losses, others like Core (CORE) exhibit substantial gains, showcasing the diverse and unpredictable dynamics of the crypto market.

The post first appeared on BH NEWS: Cryptocurrency Prices Tumble as Major Tokens Record Losses

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.