Digital assets continue to struggle as crypto market cap drops 1.28%. It currently hovers around $2.45 trillion, a change of 94.5% from a year ago.
In what could be a knock-on effect from the traditional market, which has seen the Japanese yen fall to a 34-year low against the US dollar, driving cryptocurrencies such as Bitcoin (BTC), Solana (SOL ) and Dogecoin (DOGE) all saw their prices drop over the past 24 hours.
Bitcoin
According to data from CoinMarketCap, the price of Bitcoin is currently $63,284, down 2.32% from 24 hours ago.
During this period, the number one crypto recorded a trading volume of $22.89 billion, the second highest amount in the last 24 hours.
Although the price of Bitcoin is still more than 118% higher than it was at the same time a year ago, it has been in the red over several other periods.
For example, the current price means a 10% decline over 30 days, a 6.7% decline over a fortnight, and a more modest 1.3% loss over the past seven days.
Solana
For its part, Solana – fifth on the list of largest cryptocurrencies by market capitalization – saw its price drop by more than 4% in 24 hours.
Currently, the coin is changing hands at $137.21 and has a 24-hour trading volume just north of $2.4 billion.
SOL also did not perform better over different time periods.
The current price represents a 25.6% drop from what it was 30 days ago, according to CoinGecko data.
This also marks a nearly 8% 14-day decline, as well as a 2.6% 7-day loss.
Ethereum
Ethereum appears to have resisted the general negative trend, albeit rather modestly. At the time of writing, it was trading at around $3,137, up 0.23% from the last day.
This slight increase was accompanied by a 24-hour trading volume of $10.26 billion, making ETH the third most traded cryptocurrency after Tether and Bitcoin.
Ethereum’s seven-day gains are larger, with the current price 4% better than a week ago.
However, the bearish sentiment that seems to have taken over the crypto market over the past month has not spared ETH either. During this period, it lost more than 12% of its value.
Dogecoin
Dogecoin – the largest meme token – has also lost some of its value over the past 24 hours.
The dog-themed coin lost almost 3% of its price during this period. Trading at around $0.1451, Dogecoin’s value is also more than 30% below its level a month ago.
Its performance is reflected among other meme coins, including Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB), all of which are currently in the red, with losses between 2.82% and 7.87%. .
