Bitcoin It has crashed along with many other altcoins in the last 24 hours. NS bitcoin price On Wednesday, at the time of writing this article, was $46,576.22. peak cryptocurrency According to information from CoinMarketCap, the red was trading at 11.88 percent for the last 24 hours to September 8. This indicated that bitcoin was trading down 0.44 percent during the week. The digital asset displayed volatility largely as its price continued to fluctuate. Bitcoin managed to maintain a market dominance of 42.01 percent, which indicated an increase of 0.27 percent on the day, according to data from the crypto listing website. It also maintained a market cap of $885.59 billion.
Edul Patel, CEO and co-founder of Mudrex, said, “Bitcoin reversed its bullish momentum and fell to $43,000 from its initial position. Many investors who did not have stop losses ran for cover and booked profits. of. More than 329,483 traders have been liquidated in the last 24 hours. Such liquidations occur when a trader’s account has run out of funds, and the balance is on the verge of turning negative. So massively fast A large number of sell orders due to the fall pushes the price even further.”
Other major altcoins that displayed a similar trend on Wednesday were the likes of Ethereum (Ether), which lost $3,434.88, or 12.43 percent, in the past 24 hours. However, the website indicated that the coin was trading in the green for the past seven days. This shows that Ether was trading up 0.55 percent last week, while maintaining a market cap of $441.02 billion. Cardano, which recently ranked third on the list of top cryptocurrencies, was priced at $2.46 and was also trading in the red, down 13.03 percent during the last day. The coin was also trading with a fall of 10.13 per cent in the last seven days.
Patel further said, “The total value of the liquidations crossed $2.6 billion in just one hour. Although the sell-off lasted across the crypto spectrum, with most coins losing double digits, Solana outperformed for another day. The SOL token made a one-day high of $215 and gained over 13 percent.”
The global crypto market cap stood at $2.11 trillion on Wednesday. This indicated a decline of 11.30 per cent over the previous day. The total crypto market volume stood at 241.26 billion in the last 24 hours, an increase of 70.57 percent, the data showed. Total DeFi volume was $33.40 billion or 13.84 percent of the total 24-hour volume of the crypto market. At the time of this article, the volume of all stablecoins stood at $191.72 billion or 79.46 percent of the total 24-hour volume of the crypto market.
“Global crypto market cap is $2.12 trillion, down 9.54 percent from the previous day. With a 10% decrease in market capitalization, total crypto market volume stood at $2.12 trillion. In total traded volume over the past 24 hours There was an increase of over 57 per cent as investors ran for cover,” Patel said.
Here are the top cryptocurrencies and their prices as of September 08, 2021 (data from coinmarketcap.com when the article was published)
Bitcoin converts to $46,576.22 or (-11.88 percent) in 24 hours
Ethereum trades at $3,434.88 or (-12.43 percent) in 24 hours
Cardano converts $2.46 or (-13.03 percent) in 24 hours
Binance Coin converts to $421.40 or (-16.05 percent) in 24 hours
Tether converts at $1.00 or (+0.08 percent) in 24 hours
XRP converts to $1.13 or (-18.14 percent) in 24 hours
Solana converts to $174.04 or (+0.57 percent) in 24 hours
Dogecoin converts to $0.2574 or (-15.99 percent) in 24 hours
USD Coin was $1.00 or (+0.06 percent) changed in the last 24 hours
Polkadot converts to $28.02 or (-19.47 percent) in 24 hours
Change Uniswap $24.22 or (-16.43 percent) in 24 hours
Chainlink converts $28.29 or (-18.67 percent) in 24 hours
Bitcoin Cash converts to $669.72 or (-14.32 percent) in 24 hours