The crypto market has seen another volatile trading day as Bitcoin has slipped below the $28,000 level. The primary cryptocurrency attempted to ascend to the $29,000 level earlier this week, however it wasn't successful, and consequently experienced a price dump which led to it trading at underneath $28,000. Ethereum, which is the second biggest cryptocurrency in terms of market capitalization, has also declined and is now trading at levels below $1,800.
Ripple's native token, XRP, has had an impressive few weeks; reaching highs of over $0.60 and gaining up to 60% week-on-week. XRP has started to settle down and is now trading at close to the $0.55 level. Other altcoins have been struggling to make any significant advances, with Dogecoin, Binance Coin, Shiba Inu, and Ethereum all down by up to 2%.
On the other hand, Cardano, Polkadot, TRON, and Avalanche have seen minor gains while the biggest mover has been HBAR, which is up around 9% in the past 24-hours. This is one of the leading factors as to why the overall crypto market capitalization has dropped by $30 billion as of late.
- Melanie Lee
- 2023-03-31
Crypto Market Experiences Volatile Trading Day
Bitcoin, Ethereum and XRP have all seen significant drops on the crypto market while some altcoins manage to make minor gains. Overall market capitalization has dropped by $30 billion.