Markets for cryptocurrencies are down this morning on Wednesday. According to data from CoinMarketCap, the global market cap decreased by 3.51% over the previous day and stood at USD1.09 trillion early morning.

The price of one bitcoin has decreased by 3.43 percent to USD22,955. Ethereum, which trades at USD1,679, likewise displayed a downward trend. Cryptocurrency prices dropped 3.74 percent.

The value of the stablecoin USDT Tether decreased by 0.01 percent over the previous day. The stablecoin is currently trading at its peg of USD1 peg. While the BNB token fell 1.17 percent during the past 24 hours, the USDC stablecoin experienced a negative move of 0.03 percent and is currently trading at USD0.997.

Despite a 0.01 percent loss over the previous 24 hours, BinanceUSD stablecoin has reclaimed the sixth-most valuable cryptocurrency ranking according to market cap.

Over the past 24 hours, there has been a 4.24 percent downward trend for XRP Ripple. Over the past 24 hours, the price of Solana declined by 6.53% and the ADA token for Cardano fell by 5.36%.

In the last day, Memecoin Doge lost 4.10 percent, and Avalanche's AVAX lost 5.39 percent.  The DOT token on the Polkadot blockchain network fell 7.82% in the previous day. The MATIC token on the Polygon network fell 5.47 percent. Memecoin Shiba Inu fell 4.38 percent, while stablecoin DAI fell 0.02 percent. 

Over the past 24 hours, the bulk of the top tokens have lost ground. The worldwide market cap is above USD1 trillion levels despite the downward trend.

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