Digital assets continue to struggle as the market capitalization of cryptocurrencies declines by 1.28%. It currently stands at around $2.45 trillion, a 94.5% change from a year ago.
Major cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE) have fallen, likely as a spillover effect from the traditional market where the Japanese yen has fallen to a 34-year low against the US dollar. . All prices have fallen in the past 24 hours.
Bitcoin
According to data from CoinMarketCap, Bitcoin price is currently $63,284, down 2.32% from 24 hours ago.
During this period, the number one cryptocurrency recorded a trading volume of $22.89 billion, which was the second highest amount in the past 24 hours.
Bitcoin price is still up more than 118% compared to the same point a year ago, but it is in the red on several other time frames.
For example, the current price implies a 10% decline in 30 days, a 6.7% decline in 2 weeks, and a more modest 1.3% decline in the past 7 days.
Solana
Meanwhile, Solana, which ranks fifth on the list of largest cryptocurrencies by market capitalization, saw its price drop by more than 4% in 24 hours.
The coin is currently trading at $137.21, with a 24-hour trading volume of just over $2.4 billion.
SOL also does not perform as well over different time frames.
According to data from CoinGecko, the current price is down 25.6% from its price 30 days ago.
It also fell nearly 8% in 14 days and 2.6% in 7 days.
Ethereum
Ethereum seems to be bucking the general negative trend, albeit quite modestly. At the time of writing, it is trading at approximately $3,137, an increase of 0.23% from the previous day.
This slight increase brought the 24-hour trading volume to $10.26 billion, making ETH the third most traded cryptocurrency after Tether and Bitcoin.
Ethereum’s 7-day rally is even bigger, with the current price improving by 4% compared to a week ago.
However, the bearish mood that seemed to sweep over the crypto market last month did not affect ETH. It has lost more than 12% of its value in that time.
dogecoin
Dogecoin, the largest meme token, has also lost some of its value in the past 24 hours.
The dog-themed coin has fallen nearly 3% from its price at the time. The value of Dogecoin, trading at around $0.1451, is also down more than 30% from its level a month ago.
That performance is mirrored by other meme coins, including Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB), all of which are currently in the red, with losses ranging from 2.82% to 7.87%.
