Crypto Price Today: Bitcoin falls below $42,500; BNB, Polygon jump up to 20%
XRP, Avalanche, Dogecoin and Polkadot were trading in the red, while BNB, Polygon, Tron, Litecoin, and Chainlink were in the green.
Meanwhile, the global cryptocurrency market cap declined 0.21% to around $1.65 trillion in the last 24 hours.
At 12:23 pm, bluechip crypto token BTC was trading 0.6% lower at $42,450, while Ethereum was down 0.2% at $2,227.
Altcoins, such as BNB, and Polygon (MATIC) jumped 10.4%, and 20.3%, respectively. On the other hand, Polkadot, Avalanche, Chainlink, and Shiba Inu declined 1-5%.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»«In the last 24 hours, the overall crypto market experienced a decline following reports that creditors of the defunct Bitcoin exchange Mt. Gox have begun receiving fiat repayments for their trapped Bitcoin. While this news created FUD in the market, it's important to note that its impact on selling pressure is uncertain,» said CoinDCX Research Team.
Edul Patel, CEO of Mudrex, said, «The current market scenario is marked by a tight range, reflecting the ongoing battle between the bulls and bears for control. Despite a 37% decline from its peak, Bitcoin is exhibiting strength above the critical US$40,000 support level.»
The total volume in DeFi is currently $9.21 billion, 11.98% of the total crypto market 24-hour volume. The volume of all stablecoins is now $68.45 billion, which is 88.99% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 50.45%, according to CoinMarketCap. BTC volume in the last 24 hours rose 15.5% to $27.73 billion.
Tech View by Rajagopal Menon, Vice President, WazirX
BT
