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01/06/2024

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Bitcoin Is Volatile, But Altcoins See Dramatic Price Drops - CMN | Latest Cryptocurrency News Today | Live Crypto Price

On Friday, the price of Bitcoin fluctuated more than usual, falling to $42,600, rising to $44,400, and finally ending below $44,000. Over the last day, the prices of many cryptocurrencies have dropped...

Bitcoin Is Volatile, But Altcoins See Dramatic Price Drops - CMN | Latest Cryptocurrency News Today | Live Crypto Price

On Friday, the price of Bitcoin fluctuated more than usual, falling to $42,600, rising to $44,400, and finally ending below $44,000. Over the last day, the prices of many cryptocurrencies have dropped significantly; AVAX, ADA, SOL, and LINK have witnessed the biggest drops.

From less than 50% at the beginning of the year, Bitcoin now commands domination over altcoins on CoinMarketCap, with over 52% of the market. The market capitalization of the leading cryptocurrency has fallen below $860 billion.

After experiencing a surge in value in the days after the Wednesday crash, the majority of cryptocurrencies saw a decline. In terms of daily losses, Solana, Cardano, Avalanche, and Chainlink are in the front; they are all down between 5 and 8%. Consequently, SOL is trading below $100, ADA is about to drop below $0.5, AVAX is trading at $35, and LINK is trading below $15. The red also affects other altcoins with higher market capitalization, like ETH, BNB, DOGE, XRP, MATIC, TRX, and TONNE.

Of the top 36 altcoins, LDO is the sole anomaly, rising to $3.33 after a noteworthy 9% climb. The entire value of the cryptocurrency market has dropped to $1.640 trillion overnight, a loss of more than $30 billion.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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