The cryptocurrency market witnessed mixed price action today. While Bitcoin (BTC) price fell to $64,000, Ethereum (ETH) and Solana (SOL) saw significant fluctuations. However, XRP and FTX Token (FTT) saw major gains in the overall market. The total crypto market cap decreased by 1.86% to $2.26 trillion. On the other hand, the total trading volume increased by 17.81% to $58.31 billion. Here are the details of today’s crypto market developments.
On Bitcoin and Ethereum Prices$BTC
Bitcoin is trading at $64,462 today, down about 2%. The lowest price during the day was $64,219, and the highest was $66,069. Bitcoin lost value despite a $1.11 billion inflow into US spot Bitcoin ETFs on a weekly basis; this decline came with a 4.5% decline in the Nikkei 225 index. Bitcoin's market value reached $1.27 trillion today. Ethereum (ETH) fell 2% to $2,625; the lowest and highest prices during the day were $2,604 and $2,675. This decline is in line with the general trend in the market, and it was noteworthy that a wallet belonging to Vitalik Buterin sold a significant amount of ETH. The market value of ETH fell to $316.41 billion.
Volatility Continues in XRP and Solana$XRP
Solana (SOL) was also affected by today’s volatility and is trading at $156, down 1%. The lowest and highest prices during the day were recorded at $155 and $161. Solana’s market cap reached $73.16 billion. Its 24-hour trading volume increased by 54% to $2.06 billion. On the other hand, XRP defied the general market trends and rose by 5.5% to $0.6452. The lowest and highest prices during the day were determined as $0.6121 and $0.6622. According to Whale Alert data, a large investor accumulated 31 million XRP from the Upbit exchange today, which contributed to the rise of XRP. XRP’s market cap reached $36.53 billion today.
Market's Biggest Gainers and Losers
While Bitcoin price fell, FTX Token (FTT) gained more than 60% to trade at $2.27. The lowest and highest prices during the day were $1.42 and $2.72. Mina (MINA) rose 9% to $0.595, while Popcat (POPCAT) gained 8% to $1.01. On the other hand, Notcoin (NOT) fell 5.5% to $0.009, and THORChain (RUNE) lost 3.5% to $5.12. The crypto market continues to experience volatility on hourly charts throughout this week. Investors, especially for major cryptocurrencies such as BTC and ETH, are making speculative transactions, which increases the volatility in the overall market. Therefore, it is important for investors to do their own research by considering the possible risks.
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