Cryptocurrency prices are in the deep red this Wednesday morning. The global cryptocurrency market cap is down by 6.14 per cent from Tuesday’s levels. The cryptocurrency data aggregator CoinMarketCap showed that the global crypto market cap is at $942.50 billion. The total cryptocurrency market volume over the last 24 hours stands at $88.80 billion, 44.67 per cent higher than Tuesday. Bitcoin’s dominance is at 38.23 per cent, a decrease of 0.08 per cent over the day.
Bitcoin, Ethereum, and BNB
Mainstream cryptocurrencies like Bitcoin, Ethereum, and BNB have taken a steep dip over the last 24 hours.
Bitcoin, the largest cryptocurrency by market cap, is trading at $18,835 and is down by 6.11 per cent. Ethereum blockchain network’s Ether showed a downtrend of 7.72 per cent. The cryptocurrency token is trading at $1,532. BNB crypto, native to Binance Smart Chain, witnessed a downtrend of 7.56 per cent.
USDT, USDC, BUSD, and DAI
Stablecoins USDT and USDC have gained over the last 24 hours while BUSD and DAI have slipped down.
USDT Tether stablecoin gained 0.01 per cent in its value over the last 24 hours and is trading at $1. USDC witnessed a 0.01 per cent positive change in its value over the last 24 hours. The stablecoin is trading at $0.9999.
BinanceUSD or BUSD slipped 0.02 per cent and is trading at $1. Stablecoin DAI fell 0.05 per cent and is trading at $0.9994.
Layer 1 blockchain tokens
Cryptocurrency tokens native to Layer 1 blockchain networks like Solana, Ripple, and Avalanche also witnessed a downtrend over the last 24 hours.
Cardano’s ADA token is down 8.94 per cent. Solana blockchain network’s SOL fell by 6.87 per cent. Avalanche’s AVAX slipped by 10.38 per cent. Ripple blockchain’s XRP has fallen 6.23 per cent.
Polkadot and Polygon
Polkadot blockchain network’s DOT token is in the red. The cryptocurrency token is down by 9.78 per cent. Polygon’s MATIC crypto token has slipped by 10.36 per cent over the last 24 hours.
Both mainstream meme crypto coins, Dogecoin and Shiba Inu witnessed a huge downtrend. Dogecoin is down a whopping 8.66 per cent, whereas meme crypto Shiba Inu is down a significant 6.53 per cent over the last 24 hours.
Overall, the majority of top cryptocurrency tokens have slipped down from their previous positions over the last 24 hours.