Today's cryptocurrency market performance is sluggish
This is mainly reflected in the significant declines of BTC, ETH, SOL, and XRP, with an overall market atmosphere that is not very optimistic.
However, Algorand (ALGO) and Fantom (FTM) performed relatively strongly, with ALGO up 15% and FTM up 14%, making them the highlights of this market trend.
Additionally, Ripple (XRP) has recently taken action, donating $25 million to a political action committee (PAC) supporting cryptocurrencies, continuing to support the development of the crypto industry.
Overall, today's market performance continues the previous bearish trend. Bitcoin BTC continues to decline, dropping below $91,000, while ETH, SOL, and XRP have also seen significant corrections. In contrast, ALGO and FTM have become the cryptocurrencies with the largest gains in the last 24 hours.
Overall market capitalization has dropped by 2%, now at $3.18 trillion. Trading volume has also decreased by 9%, currently at $220 billion.
Let's explore the performance of top cryptocurrencies reflected in the prices on November 27.
Today's Cryptocurrency Market: BTC, ETH, SOL, and XRP prices are down
Today's cryptocurrency market overall performance is poor, with Bitcoin (BTC) price dropping significantly, once falling to $91,000. Ethereum (ETH), Solana (SOL), and XRP also performed weakly, continuing a broader bearish trend. Even the performance of meme coins is not satisfactory, with overall market sentiment being weak.
Bitcoin (BTC) Today's Price
Bitcoin has dropped over 2% in the past 24 hours, currently trading at $92,890, with a price range of $90,770 to $94,991. Bitcoin's market cap is $1.84 trillion, accounting for 57.5% of the overall market.
Meanwhile, outflows from the BTC ETF reached $122 million, with Fidelity also withdrawing $95 million during this period. Nonetheless, the Brazilian Congress is currently discussing a bill aimed at creating a strategic Bitcoin reserve, which may provide potential support for Bitcoin's future development.
Ethereum (ETH) Today's Price
Ethereum price dropped 2% today, current price is $3,362. The intraday low was $3,255, and the high was $3,448. Ethereum's market cap is $405 billion, with a 24-hour trading volume of $39 billion.
According to Sosovalue's data, the outflow of ETH ETF reached $9.45 million. Nonetheless, Grayscale leads other ETFs with a cumulative inflow of $16 million, showing sustained market interest in Ethereum.
Solana (SOL) Today's Price
Solana dropped 3% today, with a current trading price of $233, a 24-hour price range of $222 to $239, a market cap of $110 billion, and a trading volume of $7 billion.
Moreover, Solana's meme-coin launch platform Pump Fun announced an indefinite suspension of its live broadcast feature, a decision that has drawn attention from the Solana community and may affect its short-term performance.
XRP Today's Price
XRP price dropped nearly 6%, currently priced at $1.369, with a 24-hour low and high of $1.29 and $1.45, respectively. Its market cap is $78 billion, with a 24-hour trading volume of $9 billion and a market share of 2.45%.
Ripple has recently donated $25 million to the cryptocurrency support organization PAC Fairshake, further strengthening its influence in the industry and support for cryptocurrency development.
Meme Coin Today's Price
Today, the meme coin sector is generally weak, with Dogecoin (DOGE) dropping 4%, currently priced at $0.3876, a 24-hour price range of $0.36 to $0.40, a market cap of $57 billion, and a 24-hour trading volume of $8.6 billion.
Shiba Inu (SHIB) price dropped 3%, current trading price is $0.00002446. Other meme coins such as PEPE, BONK, and WIF also experienced declines of 4% to 8%, reflecting the overall sluggishness of the meme coin industry.
Top Gainers:
Algorand (ALGO): Price increased by 15%, current trading price is $0.299. The lowest price in the past 24 hours was $0.2515, and the highest price was $0.3089, indicating a relatively positive market sentiment and strong trend.
Fantom (FTM): Increased by 14%, current trading price is $1.09. The lowest price in the last 24 hours was $0.92, and the highest price reached $1.13, indicating a very good performance in the past day.
Biggest Losers:
Stellar (XLM): Price dropped by 15%, current price is $0.42. The 24-hour low was $0.4186, and the high was $0.5104, indicating a significant price drop.
Sandbox (SAND): Dropped by 10%, currently priced at $0.58. The lowest price in the last 24 hours was $0.58, and the highest price was $0.66, showing relatively weak performance in the past day.
Despite some cryptocurrencies experiencing significant fluctuations today, based on the hourly timeframe and overall market prices, BTC and some major altcoins seem to show signs of rebound. If market sentiment continues to improve, a recovery may occur after the recent declines.
