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Unexpected Market Swings in Crypto: Who Came Out on Top?

Market Musing-g

Unexpected Market Swings in Crypto: Who Came Out on Top?

By The Bit Journal

Created 6 months ago, last updated 6 months ago

•

4 mins read

Unexpected Market Swings in Crypto: Who Came Out on Top?

Table of Contents

Bitcoin and Ethereum Lead the Charge
Solana and XRP Face Losses
Top Gainers and Losers of the Day

Today, the cryptocurrency market once again saw significant fluctuations, leaving investors questioning their next moves. While Bitcoin (BTC) briefly surged above $68,000, other major altcoins like Ethereum (ETH), Solana (SOL), and XRP also experienced ups and downs. Interestingly, POPCAT and MEW emerged as the biggest gainers, each seeing an impressive 11% increase.

Bitcoin and Ethereum Lead the Charge

Bitcoin saw a modest 0.5% increase, reaching $67,738 by the end of the day. The lowest price of the day was recorded at $66,647, while the highest peak was $68,199. Notably, Bitcoin ETF inflows amounted to $470.48 million, signaling ongoing interest from investors despite market volatility. As a result, Bitcoin’s market capitalization rose to $1.34 trillion, with its dominance increasing to 57.73%, a 0.25% rise from the previous day.

In contrast, Ethereum faced a slight downturn, dropping by nearly 1% to $2,617. The day’s low and high were $2,577 and $2,649, respectively. Despite a $48.41 million inflow into Ethereum ETFs, ETH struggled amid the broader market fluctuations. Ethereum’s market cap currently stands at $314.56 billion, and developers are planning to introduce EIP 7742 in the upcoming Pectra Update.

Solana and XRP Face Losses

Solana dropped by over 1%, falling to $152, with the lowest and highest prices recorded at $147.94 and $154.69. Its market cap now sits at $71.35 billion, and analysts suggest the decline is linked to reduced DEX trading volumes.

XRP also lost 1% over the last 24 hours, sinking to $0.5436. The highest and lowest intraday values were $0.5641 and $0.5405, respectively. XRP’s market cap is now $30.83 billion. This decline is attributed to new legal developments in the ongoing SEC lawsuit against XRP, as reported by The Bit Journal.

Top Gainers and Losers of the Day

Among the day’s top performers, MEW rose 11% to $0.009448, while POPCAT surged 11%, reaching $1.39. The lowest and highest prices for POPCAT during the day were $1.18 and $1.38, respectively. Celestia (TIA) also saw a 6% rise, hitting $6.23, with lows and highs at $5.57 and $6.32.

On the losing side, Maker DAO (MKR) suffered a 7% decline, falling to $1,201, with daily lows and highs of $1,191.82 and $1,282.09. Starknet (STRK) also dipped by 6% to $0.3916, while Bonk (BONK) dropped 4%, closing at $0.00002353.

As volatility continues to shake the crypto market, investors are advised to remain vigilant and adjust their strategies accordingly. For more insights and updates on market movements, stay tuned to The Bit Journal.

Follow us on Twitter and LinkedIn and join our Telegram channel to be instantly informed about breaking news!

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