The global crypto market cap has dropped by a whopping 64% in the last 24 hours to about $1.01 trillion as a majority of cryptocurrencies witnessed huge price drops.
The total crypto market volume in the last 24 hours has also dropped by about 56% to $37.91 billion meaning the plunge has slowed down trading activities as investors wait to see the next cause of action.
Bitcoin price plunge pulling other coins with it
Besides the fact that Bitcoin’s dominance within the cryptocurrency space has increased by about 70% in the last 24 hours, Bitcoin (BTC) has taken the worst hit after dropping by about 7% to trade below $61k.
Other major cryptocurrencies including Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Dogecoin (DOGE), Shiba Inu (SHIB), and Terra (LUNA), among the majority of the top 100 coins have all registered a drop of more than 5%.
Today’s biggest loser is the PolypuX (PUX), which has dropped by about 97% in the last 24 hours.
The other top five biggest losers include My Shiba Academia (MSA) that has dropped by 81%, GnomeToken (GNOME) that has dropped by 77%, Qrkita Token (QRT) that has dropped by 69%, and FlokiZap (FLOKIZ).
As most cryptocurrencies drop, there are still some altcoins that have registered staggering price hikes.
Today’s topmost gainer is the Ethereum Meta (ETHM) whose price has risen by a whopping 54925% in the past 24 hours.
Other top five gainers include Makk (MAKK) that has gone up by 651%, GenshinShibInu (GSHIB) that has gone up by 613%, Secured Ship (SHIP) that has gone up by 587%, and HIKOBABA (HIKO) that has gone up by 261%.
Prominent cryptocurrencies that have registered a significant rise today include Atlas Protocol (ATP) that has risen by 112%, Galatasaray Fan Token (GAL) that has risen by 79%, and BORA token that has risen by 55%.