The price of Bitcoin and other popular crypto coins is trading in the deep red. An abrupt liquidation over the previous few hours caused $1 billion in losses as the price of Bitcoin dropped to a two-month low and the digital asset markets experienced one of their biggest sell-offs of the year. The cryptocurrency marketโs trading volume abruptly increased.
Bitcoinโs (BTC) price, was quite bearish today and was still below the $30,000 threshold at $25,955.13,ย and down by more than 1% since yesterday. Other well-known altcoins, Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), also experienced losses on the other side of the border.
Ethereum is trading at $1,659.7, with almost 1% decrease in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed over 3% dip. Solana also faced a reduction, with its price plummeting by 0.19%. On the other hand, Polygon (MATIC), which traded on green lines a few days back, is down by more than 14% since the last day. On the contrary, the Polkadot coin price saw an increase of almost 2% in its price, in one day.ย
The realm of meme cryptocurrencies tells a different story. In the past 24 hours,ย Dogecoinโs price witnessed an increase of more than 4%, while Shiba Inuโs token price is up by almost 5%, in the last 24 hours.
The crypto market today is mostly bearish with few exceptions. The global crypto market cap stands at $1.05 trillion. The 24-hour crypto market volume stands at $40.7 billion, with a 39% decrease.
The top 4 cryptos for today are:
The Injective (INJ) token price is up by almost 6% in the last 24 hours and is now trading at $7.75. It has a global market cap of $649,444,298. Anjela from Tradingview attributes INJโs relative performance to the growing expectation of major token burns. Network fees are used to progressively remove INJ from circulation as part of Injectiveโs decentralized governance concept.
Hedera (HBAR) crypto token price is up by more than 12% in the last 24 hours, and now its price stands at $0.06353. The global market cap is $2,095,678,303. The recent increase followed the addition of Dropp, a micropayments platform built on the Hedera Hashgraph, to the FedNow instant payments system, which is operated by the US Federal Reserve.
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THORChain (RUNE) crypto token price is up by more than 7% in the last 24 hours, and the price stands at $1.59. It has a global market cap of $542,515,610. In fact, despite a violent selloff across broader markets, RUNE has increased by nearly 40% this week. On August 18, RUNE reached a four-month high of $1.64.
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RPL token is down by 4.31%
Rocket Pool (RPL) token is down by almost 5% in the last 24 hours and the price is trading at $24.56. It has a global market cap of $481,943,288. These bears are present regardless of Coinbase Venturesโ announcement a few days ago that it had made a strategic investment in Rocket Pool by purchasing RPL tokens.
Also Read: Injective (INJ) Price Soars By 10% Amid Crypto Crash
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
