A negative atmosphere among global currency market observers has impacted cryptocurrency prices. Bitcoin (BTC) has dropped to the $60,000 level in the last 24 hours, while altcoins like Ethereum (ETH), Solana (SOL), and XRP have also lost value. These declines align with significant selling pressures following the PlusToken scandal.
Overall Decline in Market Value
The global cryptocurrency market value decreased by 1.94% in the last 24 hours, falling to $2.13 trillion. Additionally, the total market volume decreased by 2.91%, dropping to $67.22 billion. Weak inflows in Bitcoin and Ethereum ETFs have been among the primary reasons for this decline.
Selling pressures linked to the PlusToken scandal have led to an overall decline in cryptocurrencies. This situation has caused a decrease in investor confidence and has resulted in market volatility. Following the scandal, a heightened frequency of selling, particularly in major cryptocurrencies, was observed.
Performance of Leading Cryptocurrencies
Bitcoin experienced a 2% loss, dropping below $61,000. Ethereum declined by over 2%, falling to around $2,395. Solana and XRP also experienced decreases of approximately 3% and 1%, respectively, indicating a weakening of the dominance of leading cryptocurrencies.
While altcoins generally followed the market trend, some demonstrated exceptional performance. Cryptocurrencies such as NEIRO, Uniswap, and UNUS SED LEO gained value despite the declining market. These increases indicate sustained investor interest in specific projects.
Notable Declines in Certain Cryptocurrencies
Some cryptocurrencies, including Aptos, THORChain, and FTX Token, experienced significant declines in the last 24 hours. Aptos saw an 8.5% drop, THORChain nearly 7%, and FTX Token lost about 6%. These declines are considered part of the overall negative trend in the market.
The market fluctuations in the cryptocurrency space require continuous attention from investors. Due to the wide variety of options available, some cryptocurrencies may resist the downward trend, while others may face substantial losses. It is crucial for investors to closely monitor market movements and manage their risks accordingly.
