Bitcoin Surpasses $63,000, Ethereum Reaches $3,100, Solana and Toncoin Experience Sharp Declines

Global Crypto Market Faces Heavy Volatility Amidst Pre-Halving Correction and Global Crisis

Bitcoin Crashes Below $62,000 After Reaching $67k

The global crypto market has been experiencing heavy volatility over the last weeks due to several factors like pre-halving correction and global crisis. The majority of the tokens in the market are trading in the red as depicted in the crypto heat map. Bitcoin previously spiked to reach $67k on Monday before crashing below $62,000 in the early hours of Tuesday.

Total Crypto Market Cap Drops by 5.15%

Consequently, the general crypto market cap has taken a hit. According to data from CoinMarketCap, the total crypto market capitalization has dropped by a notable 5.15% to $2.29 trillion over the last day. Nevertheless, the total trading volume across the market has grown by 1.53% to reach $116.8 billion within the observed timeframe. Also, it is important to note that the volume of all stablecoins is now $109.1 billion, representing over 93% of the total crypto market trading volume in the last day.

Major Cryptocurrency Price Update Today

At the forefront of the crypto market is Bitcoin, the largest cryptocurrency by market cap. The Bitcoin (BTC) price has dropped by a significant 4.19% in the last 24 hours to trade at $63,640. What is more, BTC trading volume over the last day has spiked by 1.40% to $44 billion. BTC now has a live market cap of $1.24 trillion representing a 4.54% drop in the last 24 hours.

Ethereum, the second-largest cryptocurrency in the world has also witnessed a dip. The Ethereum (ETH) price over the last day has dropped by 4.67% to $3,100. Furthermore, ETH has a 24-hour trading volume of $21.8 billion signifying a 3.70% drop within the time. Finally, the Ethereum market cap rests at $372 billion.

Other altcoins like BNB (Binance Coin) also join in the bloodbath. The BNB price has been reduced by 4% to trade at $548. Similarly, its trade volume has dropped significantly by over 6% to reach $1.4 billion.

After fixing its congestion issue with a recent update, the Solana price has taken the most notable hit among the coins in the top ten list. SOL has dipped by 11% within the last 24 hours to trade at $136.9. Also, its trading volume has plummeted by 12% to $5.4 billion within that time. Solana (SOL) now has a market cap of $61.1 billion.

Toncoin (TON) previously overtook Dogecoin (DOGE) to become the 8th-largest cryptocurrency in the market, however, with the recent price crash, the token has fallen one step to the #9 spot. The TON price in the last 24 hours has suffered a hit of 12% to trade at $6.25. In addition, TON now has a 24-hour trading volume of $516 million representing a 21.18% drop within the observed time.

Top Gainers Today

Despite the downtrend in the global crypto market, some tokens have exhibited resilience and surged significantly. The top gainers today include;

Kittenwifhat (KITTENWIF): Memecoins are known to skyrocket in value within a short time. According to CoinMarketCap data, the Kittenwifhat (KITTENWIF) price has surged by 38% in the last 24 hours to trade at $0.006052. Its market cap now rests at $6 million with a 24-hour trading volume of $3.8 million.

Core (CORE): Still on that list is Core (CORE). The CORE price has surged exponentially by 36% in the last 24 hours with a live market cap of $2 billion. Furthermore, the trading volume of the token has skyrocketed by 225% over the last day to $706.2 million. Core is a layer 1 blockchain that is compatible with Ethereum Virtual Machine (EVM). The Core network is powered by the “Satoshi Plus” consensus mechanism.

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