Due to a sell-off across the virtual currency market, the prices of certain prominent cryptocurrencies decreased slightly.
Market State
Bitcoin, the world’s most popular cryptocurrency, fell slightly to $45,213.58, down 2.78 percent from its 1:35 p.m. price. Due to the sell-off, Bitcoin’s market capitalization plummeted to $850 billion.
Ether’s price decreased 3% to $3,131.90, and its market capitalization fell slightly to $367 billion as well.
After the broad-based sell-off, the value of numerous other cryptocurrencies has fallen as well, while Cardano, XRP, and Dogecoin remain optimistic.
After a few days of strong rallies that pushed the value of the two major virtual currencies, Bitcoin and Ether are now showing signs of weakening.
Expert Comments
“We are starting to see some sell-off across the cryptocurrency spectrum,” Edul Patel, CEO and Co-founder of Mudrex, a worldwide algorithm-based crypto trading platform, said of the cryptocurrency sell-off.
“It’s only normal for the bulls to take a break after days of strong rallies. There hasn’t been a significant selloff yet. Short-term traders, on the other hand, should enter high-conviction trades now, since the markets may see a pullback soon,” he added.
“After a multi-week breakthrough, Cardano and Polygon’s native coin, MATIC, are still fairly bullish.”
Here are the latest prices and trends of popular cryptocurrencies:
| Cryptocurrency | Price (US Dollar) | 24-hour change | Market cap (Billion) | Volume (24 Hours) |
| Bitcoin | 45,316.89 | -1.67% | $850 | $35 billion |
| Ether | 3,143.22 | -2.00% | $367 | $26 billion |
| Dogecoin | 0.2736 | 3.36% | $35.9 | $5.9 billion |
| Litecoin | 170.31 | -0.28% | $11.3 | $2.5 billion |
| XRP | 1.01 | 13.04 | $101 | $9.4 billion |
| Cardano | 1.77 | 19.14% | $56 | $4 billion |
