The leading cryptocurrency Bitcoin (BTC) started to trade at around $29,150, recording an average loss of 0.7% in the last 24 hours. Along with the significant losses in the value of most high market cap cryptocurrencies during the day, the total market value of the crypto ecosystem also retreated to $1.16 trillion, according to CoinMarketCap (CMC) data.
Bitcoin (BTC) Starts the Day with a Decline
The leading cryptocurrency Bitcoin (BTC) started to trade at around $29,150, recording an average loss of 0.7% in the last 24 hours. Due to the impact of the losses in BTC, most altcoins in the crypto market experienced a decline and accelerated the loss in their value.
After the recent declines, the total market value of the crypto ecosystem retreated to $1.16 trillion, according to CMC data. Furthermore, the volatility in the crypto market increased compared to the beginning of the week. According to Coinglass data, approximately $140 million worth of short and long positions were liquidated.
Crypto Market in Decline
After their recent losses, Ethereum (ETH) started trading from $1820, BNB from $234, XRP from $0.6, Dogecoin (DOGE) from $0.07, Cardano (ADA) from $0.27, Solana (SOL) from $23.47, and TRON (TRX) from $0.076. Additionally, Hedera (HBAR), Terra Classic (LUNC), Compound (COMP), ApeCoin, and Pepe (PEPE) were among the top cryptocurrencies with the highest percentage of value loss among the top 100 cryptocurrencies, according to CMC data.
Although many high market cap cryptocurrencies experienced losses due to the decline in BTC, there were also cryptocurrencies that continued to rise during the day and challenged the market downturn. Particularly, THORChain (RUNE) recorded an average increase of 60% in the last week and also registered a 1% increase during the day.
