Crypto Market Suffers 8% Decline as Major Tokens Plummet

The overall crypto market cap has taken a significant hit, plummeting by nearly 8.8% in the past 24 hours to $2.73 trillion. This downturn is attributed to the recent market crash that occurred on February 24, from which the market has yet to recover.

Major Tokens Struggle to Recover

Among the top tokens by market cap, Bitcoin (BTC) has fallen below the $80,000 threshold, with a decline of 8.47% in the past 24 hours. Other major tokens, such as Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), and Solana (SOL), have also experienced significant price dips, ranging from over 10% to around 7%.

Ethereum, the second-largest cryptocurrency by market cap, has fallen by nearly 11% in the past 24 hours, trading at $2,091. Its market cap has decreased by 10.8% to $252 trillion.

Solana (SOL) suffered a worse decline, plummeting by more than 11% in the past day to $126.29. This represents a significant drop from its previous all-time high of $293.31. Solana’s market cap has fallen by 11% to $62 trillion.

Other Tokens Experience Declines

XRP experienced a decline of 10.5% in the past day and nearly 25% in the past week, currently trading at $1.99. Its market cap fell by 10.3% to $115 trillion.

Binance Coin (BNB) suffered the least among the major tokens, decreasing by 7.4% to $570.20 in the past 24 hours. In the past week, BNB has decreased by 12.7%. BNB’s market cap stands at $83 trillion, having gone down by 7.3%.

Stablecoins USDT and USDC remained relatively stable, with declines of 0.03% and 0.01%, respectively.

Investors should be cautious and conduct thorough research before making any investment decisions.

The recent downturn in the crypto market serves as a reminder of the volatility and unpredictability of the cryptocurrency market. For the latest updates on the crypto market and other related news, follow Global Crypto News.

Post Views: 3