- CoinMarketCap data indicated that the cryptocurrency market dropped 1.91% over the past 24 hours.
- SOL was the biggest loser in the top 10 list and recorded a 24-hour loss of 2.93%.
- DOGE was trading hands at $0.05913 after its price slipped 2.58% during the past day of trading.
CoinMarketCap indicated that the cryptocurrency market was hit with a wave of sell volume over the past 24 hours. Subsequently, the market’s collective valuation was down 1.91% and estimated to be around $1.07 trillion at press time. The losses of Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE) had the biggest impact on the market during the past day of trading.
Bitcoin (BTC)
BTC’s price had slipped 0.85% over the past 24 hours. Consequently, the market leader was trading hands at $27,659.69 at press time. Despite the negative daily performance, BTC’s weekly performance was clinging onto the green zone, as the cryptocurrency’s price remained up 0.09% over the past 7 days.
Although BTC’s 24-hour performance was among the best, the effect of its 24-hour loss on the cryptocurrency market is far greater than that of the losses of individual altcoins during the same time period. This is mainly due to the fact that BTC is currently the largest cryptocurrency in terms of market cap.
Solana (SOL)
SOL was the biggest loser in CoinMarketCap’s top 10 list of the biggest cryptocurrencies. Throughout the past day of trading, the Ethereum-killer saw its value decrease by 3.97%. To put SOL’s poor 24-hour performance into perspective, the next biggest loser for the same time period was Ripple (XRP), with a loss of 2.93%.
As a result of SOL’s notable price drop, the altcoin was trading at $22.32 at press time. Furthermore, the daily loss pushed SOL’s weekly performance further into the red zone, subsequently forcing it down to -7.63%.
Dogecoin (DOGE)
The leading meme coin, DOGE, was the 3rd biggest loser in the cryptocurrency market during the past 24-hour cycle. At press time, CoinMarketCap data indicated that the altcoin’s price stood at $0.05913. This was after DOGE saw its value drop by 2.58% during the past trading day.
Similar to the majority of cryptocurrencies in the market, DOGE’s price has dropped substantially over the past 7 days. This latest 24-hour loss did not do the altcoin’s weekly performance any favors, as it pushed it down to -4.93%.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
