Crypto Market Slump: Prices of Bitcoin and Ethereum Moderately Collapse

Crypto Market Slump: Prices of Bitcoin and Ethereum Moderately Collapse

The bitcoin industry is one where things are always shifting and shaking. The volume of the worldwide cryptocurrency market has increased by an astounding 0.81 percent, with bitcoin taking the lead as the most popular virtual currency. But that’s not all; Litecoin has also experienced some significant gains, making it the market’s top gainer.

Source: CoinMarket Cap

Regrettably, not all currencies can win. The top loser of the day was Huobi token, which suffered a slight fall. Yet, there will inevitably be some winners and losers along the road given the amount of activity taking place in the cryptocurrency industry.

The entire volume of the cryptocurrency market stood at an amazing $67.83 billion as of 9 am IST on March 23, 2023. And while the market capitalization of all cryptocurrencies fell somewhat from the previous day (sitting at $1.15 trillion), there is still a lot of room for development and growth in this fascinating sector.

Ethereum Plummets by 3.50% to $1,741.37 – Tether Clings to Green

In the last 24 hours, trade volume for Ethereum fell by 3.50% to $12.30 billion, or $1,741.37. Tether, meanwhile, maintained its position despite a slight decline of 0.01%. Tether, on the other hand, recently had a small uptick of 0.02%, so things appear to be improving. Tether is still robust, trading at $1, the same as yesterday, with a 24-hour trading volume of $49.10 billion, despite this little shift. It presently holds the third spot on coinmarketcap, demonstrating that some cryptocurrencies can still hold their own even in times of volatility.

Other Coins also Sees Decreases Across the Board in Last 24 Hours

Several other major players in the cryptocurrency market also saw their trading values decline today, which was sad news for investors. Avalanche fell by 3.77 percent, Cardano (ADA) down by 4.04 percent, while Solana (SOL) fell by 4.43 percent to $21.37.