Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The cryptocurrency market is a sea of red once again, with some of the leading altcoins plunging by more than 10%.
Meme coin Shiba Inu has careened 13.32% over the last 24 hours, according to data provided by CoinMarketCap. The token is currently trading at $0.00002373 on the Binance exchange.
Rival joke cryptocurrency Dogecoin has also recorded a double-digit loss over the same period of time, dropping by about 10%.
Despite recent positive developments in the Ripple v. SEC case that allowed the XRP cryptocurrency to buck the trend for a small period of time, the cryptocurrency has also cracked under pressure, tanking by nearly 14%.
Bitcoin is currently sitting at the $36,800 level on major spot exchanges, shedding roughly 6% of its value over the past 24 hours. The crypto king is performing better than the top altcoins, which resulted in a slight increase in its market dominance. Earlier today, the bellwether cryptocurrency dipped to a multi-week low of $36,368 on the Bitstamp exchange.
Alex Dovbnya
Cardano and Avalanche, two of the top “Ethereum killers,” are the top laggards at the time of writing this article, plunging by 14%.
The total market capitalization has now shrunk to $1.6 trillion after peaking at over $3 trillion in early November.
Bitcoin and Ethereum are down 46.49% and 48.10% from their record peaks, respectively.
Godfrey Benjamin
Gamza Khanzadaev
Dan Burgin
U.Today Editorial Team
Vladislav Sopov