Bitcoin Slips Below $28K, Ether Trades Above $1800
By Kapil Rajyaguru
Bitcoin’s price drops continued in the past 24 hours, with the asset falling below $28,000 for the first time since April 9. It’s roughly 4% down on the day and over 10% on a weekly scale.
Its market capitalization, which tapped $600 billion just days ago, now struggles at way beneath $530 billion. Its dominance over the altcoins, though, has recovered some ground, but it’s still under 46%.
Similar to bitcoin, most alternative coins have not enjoyed the past few days. Ethereum went on to chart an 11-month high after the Shapella update last week but has since lost over $200. As a result, the second-largest virtual currency currently changing hands around $1,855.
Ripple, Cardano, Polygon, Solana, Polkadot, Litecoin, Shiba Inu, and Avalanche are also deep in the red, with losses of up to 5% in a day. Dogecoin has dumped the most, perhaps due to the asset’s relationship with Elon Musk. As it became known yesterday, Starship’s latest rocket exploded shortly after its launch.
The global crypto market cap is $1.15T, a 3.64% decrease over the last day. The total crypto market volume over the last 24 hours is $50.14B, which makes a 3.86% decrease. The total volume in DeFi is currently $3.75B, 7.49% of the total crypto market 24-hour volume. The volume of all stable coins is now $44.84B, which is 89.42% of the total crypto market 24-hour volume.
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