New Delhi: On Thursday morning, the cryptocurrency market fell. While altcoins were suffering greatly, Bitcoin barely managed to stay above USD20,000 levels.
The market value of all cryptocurrencies, as calculated by CoinGecko, dropped below USD1 trillion today and to USD929 billion the day before. Today's prices for dogecoin, Shiba Inu, and Uniswap are up while those for bitcoin and ether are down. The perception of the digital token market is being harmed by worries about a worldwide economic slump and rising inflationary pressure.
With the exception of Unus Sed Leo, which increased by roughly 4%, and the memecoins Dogecoin and Shiba Inu, all other cryptocurrencies were trading down on Thursday.
Solana lost approximately 8%, and Polkadot lost more than 6%, according to the losers. Each Ethereum and BNB experienced a 5% decline, and Bitcoin also experienced a decline.
The market capitalization of all cryptocurrencies was USD892.72 billion, down more than 2% over the previous day. However, the overall amount of cryptocurrency transactions increased by more than 11% to USD62.65 billion.