Ethereum, cardano, solana and LUNA fall again in red crypto market

Bitcoin (BTC) fell again yesterday, although the price remains in the same range. However, many altcoins are making a deeper dive again, with a few exceptions. The total market cap of all cryptocurrencies is down 3.6% to 1.31 trillion.

📈Market Overview#BTC price trades below $30K

The Top 10 are traded in different directions $BNB +1.4%, $SOL -4.9%, $ADA -4.5%

Market cap: $1.36T (+2.84%) $BTC dominance: 41.88% (-0.92%)
Fear & Greed Index: 12 (Extreme Fear)

Full Report👉https://t.co/rxYrGQADe3 pic.twitter.com/gIVVYqILSJ

— CryptoRank Platform (@CryptoRank_io) May 24, 2022

Ethereum drops 4.7%

Ethereum (ETH) pushed against resistance around USD 2,075 for hours yesterday, but was ultimately unable to break through and then fell sharply back together with bitcoin. Finally, after midnight, ETH found support around $1,970 and began a tentative recovery. However, the price did not go beyond $1,990 early this morning and is currently falling back to $1,970. With that, ETH is down 4.7% today.

Mainnet shadow fork 6 scheduled to happen around the 31st of May using the same config as Ropsten.

Then, around June 8th, the Ropsten public testnet will go through The Merge transition

The Merge is coming

— sassal.eth 🦇🔊🐼 (@sassal0x) May 24, 2022

BNB, XRP hold up slightly better

Binance coin (BNB) is holding up relatively stronger today than most major altcoins. BNB made another nice bounce last night, but was then turned down around $330. The price is currently falling to $321 with which BNB is 2.2% in the minus today. Ripple (XRP) has already made a much weaker bounce and is currently falling below $0.41, bringing the price down 3.5%.

DOGE, DOT, SHIB down a lot

Dogecoin (DOGE) is currently falling to $0.083 and is also 4.7% in the red today. Polkadot (DOT) slipped back below $10 last night and is unable to hold on this morning either. DOT currently stands at $9.8 and is down 5.2% in the min. Shiba inu (SHIB) now stands at $0.0000117 and is already down 5.7% in the last 24 hours.

ADA, SOL, AVAX fall hard

Cardano (ADA) is currently falling to $0.514, down as much as 6.3%. Solana (SOL) is down no less than 7.8% and is now even below $50. Avalanche (AVAX) is again the biggest loser among the biggest crypto, falling 9.5% to $28.8.

TRX, RDX, LRC, XTZ in the plus

Still, there is a small exception among the largest crypto. Tron (TRX) is 4% in the green today and currently appears to be breaking through $0.8 again. TRX is not the only crypto from the top 100 to turn green today. Radix (RDX), raceway (LRC) and tezos (XTZ) are all about 5% in the plus.

Crypto top 100 hardest fallers

On the other hand, cosmos (ATOM), thorchain (RUNE), arweave (AR), algorand (ALGO), internet computer (ICP), and near (NEAR) are all 9% in the min. Axie infinity (AXS), gala (GALA ), decentraland (MANA), zcash (ZEC), sandbox (SAND), maker (MKR), and zilliqa (ZIL) are already 10% in the red today.

Graph (GRT), neo (NEO) and klaytn (KLAY) are 11% in the minus and fantom no less than 16%. Terra (LUNA) is again the hardest faller on the market and is down 19%.

1/ Recently, a few community members (including some from TFL) have referred to the proposed new blockchain in Prop 1623 as a “fork” as opposed to a genesis chain.

Note: The revival plan is not proposing a “fork” of the existing chain, but rather the creation of a new one 🧵.

— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 23, 2022

Crypto Insiders Premium for altcoin analyses

Do you want to learn more about trading crypto and analyzing prices? Join Crypto Insiders Premium and come and have a look for free for the first 30 days! Ask analysts questions, chat with our avid community, and receive technical and fundamental analysis daily.