Cryptocurrency price today: Ethereum, Shiba Inu, Polygon, and Cardano slip over 7% as crypto markets in deep red

Cryptocurrency prices have tumbled in the last 24 hours. The global cryptocurrency market cap is down by a significant 4.12 per cent and has fallen below the $1 trillion mark. As per CoinMarketCap, a cryptocurrency prices data aggregator, the global cryptocurrency market cap stands at $934.50 billion. The total cryptocurrency market volume over the last 24 hours stands at $65.32 billion, marking a 34.89 per cent increase from Sunday’s levels. Bitcoin’s dominance is at 39.91 per cent, an increase of 0.48 per cent over the trading session.

Bitcoin, Ethereum, and BNB

The most influential cryptocurrency tokens like Bitcoin, Ethereum, and BNB have showcased negative momentum.

Bitcoin is trading at $19,424 and is down by 3.06 per cent. Ethereum blockchain network’s Ether showed a major downtrend. The cryptocurrency slipped 7.86 per cent and is trading at $1,340. BNB crypto, native to Binance Smart Chain, witnessed a downfall of 3.64 per cent.

Stablecoins

Stablecoins USDT, BUSD, DAI, and USDC have witnessed a downtrend over the last 24 hours.

USDT Tether stablecoin fell 0.01 per cent in its value over the last 24 hours and is trading at $1. USDC stablecoin also slipped 0.02 per cent and is trading at $0.9998. BinanceUSD or BUSD witnessed a 0.03 per cent negative change in its value over the last 24 hours. The stablecoin is trading at $0.9996 whereas the stablecoin DAI fell 0.04 per cent and is trading at $0.9993.

Layer 1 blockchain tokens  

Cryptocurrency tokens native to Layer 1 blockchain networks like Cardano, Ripple, Solana, and Avalanche have witnessed downtrend over the last 24 hours.

Solana blockchain’s SOL  witnessed a 6.46 per cent downrend while Avalanche’s AVAX slipped 9.04 per cent. Cardano’s ADA slipped 7.04 per cent and Ripple fell 2.28 per cent.

Polkadot and Polygon

Polkadot’s native cryptocurrency DOT has showcased negative momentum along with Polygon’s native crypto token MATIC. DOT token is down by 6.85 per cent and Polygon’s MATIC crypto token has gone down by 7.85 per cent over the last 24 hours.

Memecoins

Meme cryptocurrencies also showed negative momentum. Dogecoin is down by 6.10 per cent, whereas meme crypto Shiba Inu has slipped 7.98 per cent over the last 24 hours.

The majority of top cryptocurrency tokens have slipped from their previous positions over the last 24 hours.

Also Read: Cryptocurrency price today: Ether down 9% despite the success of Ethereum merge; crypto markets in red – BusinessToday

Also Read: Cryptocurrency price today: Solana gains 7%, Polkadot up 5% as global m-cap crosses $1 trillion  – BusinessToday