The cryptocurrency market has experienced a sharp decline after the Federal Reserve announced a 25 basis point rate cut, causing Bitcoin (BTC) to fall below the $100,000 mark. Contrary to expectations of a positive market reaction, this news triggered widespread sell-offs, impacting major altcoins. Ethereum (ETH) fell 6%, while XRP dropped significantly by 10%, with most cryptocurrencies showing negative momentum.
An exception to the recent decline is USUAL, which surged 23% in the past 24 hours. The overall market capitalization fell 5% to $3.44 trillion. However, trading volume soared 40% to $251 billion, indicating high market participation. The fear and greed index remains at 69, reflecting that despite the drop, greed remains high.
Here are some top cryptocurrencies by market cap and their prices today (December 19).
Today's cryptocurrency market: BTC, ETH, XRP, and SOL prices have declined.
The cryptocurrency market plummeted today after the Federal Reserve announced a 25 basis point rate cut. Bitcoin (BTC) broke the $99,000 threshold, while Ethereum (ETH) and XRP fell by 6% and 10%, respectively. Solana (SOL) also faced a 5% drop, reflecting the overall market slump.
Today's Bitcoin price
Bitcoin (BTC) price fell by about 4%, trading at $100,880. Its 24-hour low and high prices are $98,874 and $105,389, respectively. The market cap is $2 trillion, with a trading volume of $100 billion and a market share of 57.12%.
According to SoSo Value data, BTC ETF saw an outflow of $84 million on Wednesday, with Grayscale leading at $35 million and Invesco at $25 million. BlackRock's outflow data is still pending.
In related news, BOB (Build on Bitcoin) is advancing its mission to position Bitcoin at the forefront of decentralized finance (DeFi) through its integration with Bitcoin staking protocol Babylon.
Ethereum today's price
Ethereum (ETH) trading price is $3,652, reflecting a 6% decline over the past 24 hours. The 24-hour low and high prices are $3,543 and $3,902, indicating significant volatility in today's cryptocurrency market.
Ethereum has a market capitalization of $440 billion and a trading volume of $52 billion, still making it the second-largest cryptocurrency by market cap. In today's cryptocurrency market, Ethereum ETF outflows reached $79 million, with Grayscale leading at $65 million and Bitwise contributing $14.62 million.
In other news, Bitwise Chief Information Officer Matt Hougan predicts that Ethereum will surpass Solana (SOL) by 2025. This prediction has sparked great interest in the continued development of both networks.
XRP today's price
XRP trading price is $2.32, reflecting a 10% decline in the past 24 hours. The 24-hour low and high prices are $2.184 and $2.585, showing the volatility of today's cryptocurrency market.
The market capitalization of XRP is $132 billion, with a trading volume of $22 billion, still making it one of the highest market cap cryptocurrencies. Ripple has also launched its native stablecoin token RLUSD, expanding its influence in the stablecoin space.
Solana today's price
SOL trading price is $209, down 5% in the past 24 hours. Its 24-hour low and high prices are $200 and $218, with noticeable price fluctuations.
Solana has a market capitalization of $99 billion and a trading volume of $7 billion, ranking sixth among the top 10 cryptocurrencies by market cap. Despite the price drop, Solana maintains a strong position in the market. Additionally, Solana's network growth has reached an all-time high, highlighting its increasing adoption rate and active ecosystem activity.
Today's Meme cryptocurrency market
Meme coins also experienced significant declines, with Dogecoin (DOGE) dropping 7% to a trading price of $0.36. Shiba Inu (SHIB) saw a 6% price decline, currently trading at $0.00002425.
Other well-known meme coins, such as PEPE, BONK, and WIF, have seen even larger declines, dropping 12% to 15% in the past 24 hours. These price trends reflect the overall negative sentiment in today's meme coin market.
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