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Today, the market witnessed significant declines as the price of Bitcoin (BTC) fell below the $64,000 level. Additionally, the price of Ethereum (ETH) dropped below $3,100 amidst a downward trend.
Current State of Cryptocurrencies
Meanwhile, other top altcoins like Solana (SOL) and Ripple (XRP) saw significant increases, while Cardano (ADA) recorded a decline. As of May 7, Tuesday, the price of Bitcoin, the leading cryptocurrency, had fallen by 1.12% to $63,412.60. On the other hand, its trading volume increased by 71.55% to $30.31 billion over the last 24 hours, and its market value dropped to $1.24 trillion.
The leading smart contract platform, Ethereum’s price, fell by 2.65% to $3,065.74, and its market value was $368.29 billion. ETH’s trading volume saw a 66.20% increase to $13.78 billion. Solana’s price significantly recovered, maintaining the $150 level today and settling at $155.02 after a 4.54% increase. Additionally, SOL’s trading volume in the last 24 hours increased by 116.38% to $3.24 billion.
Decline in Meme Tokens
The price of XRP remained above $0.53, rising by 0.79% to $0.5377. Meanwhile, XRP’s trading volume saw a surprising increase of 240.29% to $1.84 billion. Meanwhile, the price of Cardano cryptocurrency fell by 2.06% today to $0.4495. ADA’s trading volume over 24 hours increased by 65.46% to $368.81 million. Dogecoin’s price fell by 3.97% to $0.156, while its rival Shiba Inu traded at $0.00002371 after a 4.34% loss.
Today, while the cryptocurrency giants Bitcoin and Ethereum saw price drops, popular altcoins like Solana and Ripple experienced rises. Cardano lost value. Bitcoin’s market value decreased, Ethereum’s price fell. Solana’s price recovered. XRP and Solana’s trading volumes increased. On the other hand, Dogecoin and Shiba Inu prices showed declines.
