The bear continues to torment the whole cryptocurrency market, with only a few coins showing signs of resistance. The bear has ensured that its presence is felt by the key players of the market as they are all down double digits since the past seven days.
Bitcoin [BTC], the most prominent and biggest cryptocurrency by market cap, continues to be the bear’s most preferred coin. The coin has plunged over 6% in the past 24 hours. According to CoinMarketCap, at press time, the cryptocurrency was trading at $3,721 on BitMEX, and at a premium rate of $3,849 on Bitfinex.
The coin has a market cap of $65.72 billion and a trading volume of $6.52 billion. In the past seven days, the coin has recorded a loss of 20%. Apart from the price, the bear has slashed out a massive chunk of the coin’s market capitalization. The beginning of the month saw the coin kick-start with around $110 billion market cap, now picturing the coin deprived of more than 40 billion.
In terms of trading volume, BitMEX, the biggest mercantile exchange in the US, continues to be on the top spot of the market, with BTC/ USD pairs. The second in the line is Binance, one of the leading exchange platform in the world, with BTC/ USDT pairs. The other top three includes CoinBene, CoinBit, and Bitfinex.
Along with Bitcoin, other top currencies that saw a gruesome defeat include Ethereum [ETH], Stellar Lumens [XLM], Monero [XMR] and Cardano [ADA].
Cardano [ADA], now the tenth-biggest cryptocurrency due to Bitcoin SV’s entry in the top 10, has fallen to by over 7% in the past 24 hours. The coin is trading at $0.035 with a market cap of $916.33 million. It has a trading volume of $27.99 million and has recorded a loss of 27.61% in the past seven days.
The highest trading volume for the cryptocurrency is pouring in from ZBG exchange, with ADA/ USDT pairing. The second highest is pictured to be on Binance, with Tether [USDT] pair. The other exchanges in the top five include Upbit, Huobi, and ZB.com.
Harambae2point0, a Redditor, commented on the development and said:
“This is the complete opposite of what happened last year lol. Parabolic bull run, unbelievable drop down. This has been consistent entertainment. What will happen next?”
PornKingofChicago, another Redditor, said:
“Bitcoin is resetting to 2010… its like when the Matrix got Reloaded”
“I guess hodl is now sodl.”
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