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COINTURK NEWS > Altcoin News > Cryptocurrency Market Experiences Significant Price Movements
Altcoin News

Cryptocurrency Market Experiences Significant Price Movements

In Brief

  • BTC's value dropped to $58,500, triggering a market-wide decline.

  • Solana experienced a 3.4% rise, with a market cap of $63 billion.

  • ADA saw a 3.88% increase, reaching a price of $0.3914.

COINTURK NEWS
COINTURK NEWS 12 months ago
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In the cryptocurrency market, an incredible price movement occurred 2 days ago, and BTC’s value dropped to $58,500 for the first time in a long period. Since the FED interest rate decision announced about 2 weeks ago, BTC’s decline reached this period’s low level. BTC’s drop triggered a decline in altcoins, creating a selling pressure across the market. After this point, things changed, and a noticeable price recovery occurred. BTC’s price rose again to $61,700, and altcoins also moved. DOGE became one of the standout meme coins of the day, while two different altcoins in the top 10 were among the day’s biggest gainers.

Contents
Solana Coin AnalysisCardano (ADA) Latest Status

Solana Coin Analysis

At the beginning of 2023, Solana hit rock bottom but then experienced a remarkable recovery, with the price rising above $200, which perhaps no one outside of its investors expected.

Towards the end of 2023 and even in March, there was a complete Solana frenzy, with the price surpassing $200. After this period, a noticeable price correction occurred.

As of today, SOL experienced a 3.4% rise following the week’s gains. Despite a 0.48% weekly decline, SOL’s price is around $136.50. This slowdown in the price drop still indicates a 19% decline over the past month.

Following the recent price movements, Solana’s market cap rose to $63 billion, while daily trading volume dropped by 25% to $2.5 billion.

On the other hand, the total value locked in the Solana network changed, reaching $4.25 billion. These data provided by DeFiLlama indicate a 6.44% increase in the last 24 hours. The increase in market activity seems to have triggered a rise in DeFi volumes as well.

Cardano (ADA) Latest Status

Recently, ADA, which has been frequently mentioned due to its decline, saw a recovery today. In the last 24 hours, ADA’s price rose by 3.88%, reaching $0.3914.

In the weekly outlook for ADA, a 2.07% increase is noteworthy. During this period, the market cap rose to $13.990 billion. ADA’s 24-hour trading volume is around $264.97 million.

Investors are now eagerly waiting to see when Solana will return to $200 and ADA will reclaim $1.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 June, 2024 - 3:36 am 26 June, 2024 - 3:36 am
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