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The cryptocurrency market has seen a number of significant moves in recent hours, with some assets showing notable resilience in the face of the widespread downtrend.
Circle's USDC Market Cap dominance has increased to 1.5%, posting gains of 20% in the last month, 7% in the last week, and an impressive 4% in the last day. However, despite this growth, USDC is still far from the 5% dominance held by Tether, the main stablecoin in the market, which has increased its dominance by 23% in the last month.
Regarding the main cryptocurrencies, Bitcoin has experienced a correction of 2% on the day, standing at $61,051, with a cumulative decrease of 7.5% in the last 7 days. Ethereum has lost the $3,000 level, currently trading at $2,992, with a 5.6% correction on the day.
On the other hand, BNB, the Binance token, has shown notable resilience, with a market cap of $83 billion and a 4% correction on the day, trading at $563. Solana, however, has suffered a drop in price, trading at $127 with a 6% correction on the day and a worrying 17% decline in the last 7 days in its market cap.
XRP, Ripple Labs' token, continues to face challenges in terms of market capitalization, despite the company's efforts to establish payment gateways between countries and facilitate fiat-crypto transactions. It is currently trading at 49 cents, with a correction of 3% on the day and 10% in the last 7 days.
Dogecoin remains at 13 cents with a 15% correction in the last 7 days, while Tomcoin is trading at 5 dollars and 10 cents, with a 3% correction on the day and 9.5% in the last week. Lastly, Cardano (ADA) has seen a 16.5% correction in the last 7 days, trading at 42 cents.
In summary, the crypto market is facing a widespread correction phase, with certain assets like BNB showing notable resistance, while others like Solana and XRP face significant challenges to their market capitalization.
Investors should continue to monitor these developments, evaluating strategies amid market volatility.
