As a researcher with extensive experience in the cryptocurrency market, I’ve witnessed firsthand how volatile this space can be. Today, my observations reveal a significant downturn in the overall market capitalization, with altcoins such as Cardano (ADA) and Solana (SOL) leading the charge.
As a researcher studying the cryptocurrency market, I’ve observed a significant decrease in the total market capitalization today. The figure now hovers around $2.35 trillion, representing a loss of approximately $100 billion compared to yesterday’s data. Prices continue to trend downward.
Altcoins are charting considerable losses with Cardano (ADA) and Solana (SOL) feeling the pressure.
Cardano (ADA) and Solana (SOL) Prices Tumble
The value of most alternative cryptocurrencies has significantly dropped over the last 24 hours, causing the entire crypto market to trade at a loss.
As seen in the heatmap below, SOL crashed by almost 6%, while ADA lost about 4.46%.
As Solana’s price dips below the $130 mark, there is growing speculation among investors that the bearish trend may push the cryptocurrency down to the significant $100 level. In contrast, Cardano’s performance remains disappointing with the nearest support level located around $0.35.
BTC Bears Target $60K
As a researcher observing the cryptocurrency market, I’ve noticed that Bitcoin‘s price has shown some improvement compared to Cardano and Solana. However, it appears that Bitcoin is serving as the primary driver of the recent market downturn.
The price of Bitcoin hovers near the $61,300 mark, representing a 4.4% decrease in value over the course of the day. It appears that sellers are preparing to challenge the crucial support level at $60,000.
As a researcher, I’ve come across intriguing news concerning the possible commencement of Bitcoin and Bitcoin Cash repayments from the Mt. Gox trustee, which could potentially take place this coming July based on information disclosed in an official statement released by the exchange itself.
Starting from July 2024, the Rehabilitation Trustee will initiate Bitcoin and Bitcoin Cash repayments to cryptocurrency exchanges that have been verified and confirmed for the process. These payments were previously prepared, and they will be carried out in due course.
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2024-06-24 13:29