Over the weekend cryptocurrency markets suffered a sharp fall. The global market cap dropped 3.80% within 24 hours to $1.73 Trillion.
Bitcoin lost 3.44% over the past 24 hours, falling to $38,168. Ether was the second-largest token, according to market cap, after bitcoin. It also saw a 4.8% drop.
It seems the USDC stable coin is doing better than its counterpart, as it only declined by 0.05 percent in value compared to last day’s movements while USDT saw no difference at all.
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The two tokens are pegged to the US dollar, which means they’re incredibly stable.
Recent slide inequities did not spare the cryptocurrency market. Binance token fell by 4.4%. XRP was also down by four percent during that period.
The token, Terra Luna, has experienced a whooping 9.60% decrease in value over the course of 24 hours, but it’s notable to mention that 7.3% were actually up compared with their Monday levels.
Today was a tumble day for the Cardano, Solana and ADA tokens. The ADA token lost over 6% today and SOL dropped 7.2%.
Prices for many of the most well-known cryptocurrencies are under pressure because they continue to be highly correlated. The Avalanche token, for example, is currently ranked number ten in volume terms and has dropped 6.9%.
Dogecoin was also affected, as were many other cryptos. They fell 3.9% and 4.3% respectively.
Market’s Top Gainers and Losers
Some coins are seeing a huge rise despite the decline in most crypto markets. Meta Speed Game was one of the top risers, rising by 575 percent. Sakura Bloom Token rose 359%. Parody Memes, such as Alien Shiba Inu’s 200-pound increase and Peace Doge’s 203% value, are also noteworthy gainers.
As popular tokens, such as the ASIX or Doge Rise Up, saw prices fall by over 80% within 24 hours of their release, blockchain fans were disappointed. Megan Swap lost 75%, while TATA Coin saw a moderate drop at 50%.
Ukraine: Cryptodonations
However, the Ukraine government added just $4.5 million from crypto donations to its bank accounts. This is slower than expected and contrasts last week.
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Mykhailo Fedorov (Vice Prime Minister of Ukraine), was last weekend. tweeted They had raised $50 million in cryptocurrency donations.
The Crypto Fund of Ukraine raised $50M in crypto in a week to support #Ukraine ?? An incredible unity before Putin’s encroachment on freedom and democracy. We are aiming for $100M in this week. We will win! ?? #StandWithUkraine
