The volatility in the cryptocurrency market has decreased as the leading cryptocurrency BTC consolidated between the levels of $25,500 and $26,000. However, some cryptocurrencies experienced sharp price movements during the day despite the consolidation in Bitcoin. The total market value of the cryptocurrency ecosystem has reached $1.04 trillion.
The State of the Cryptocurrency Market
The leading cryptocurrency Bitcoin (BTC) has started to follow a relatively sideways trend between the levels of $25,500 and $26,000 with the price movements it has recorded in recent days. Ethereum (ETH) started trading at $1630 levels with a low rate of 0.1% loss in the last 24 hours.
According to CoinMarketCap (CMC) data, the total market value of the cryptocurrency ecosystem has reached $1.04 trillion. In addition, the volatility in the cryptocurrency market has shown a downward trend, influenced by the consolidation in BTC. According to Coinglass data, the cryptocurrency market saw an average of $35 million worth of short and long positions liquidated in the last 24 hours.
Solana (SOL), which recorded an increase in value of over 1% in the last 24 hours, stood out positively from the market despite the decline in most high market cap cryptocurrencies. The native cryptocurrency of the Solana blockchain, SOL, started trading at around $19.7 with its recent value increases.
Highlighted Cryptocurrencies of the Day
Despite the low volatility in the cryptocurrency market, Synthetix (SNX) gained upward momentum during the day and recorded a value increase of nearly 15% in the last 24 hours. According to CMC data, it became the cryptocurrency with the highest percentage increase among the top 100 cryptocurrencies by market cap. Kava (KAVA), THORChain (RUNE), and Astar (ASTR) were also among the cryptocurrencies with the highest value gains of the day alongside Synthetix.
On the other hand, some cryptocurrencies experienced losses and downward momentum during the day. Stellar (XLM), Conflux (CFX), Maker (MKR), and Casper (CSPR) were among the cryptocurrencies with the highest percentage loss according to CMC data, following their recent declines.
