Bitcoin and Altcoins: Price Movements and Market Trends
Release: 2024/02/05 14:09 Reading: 761
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Bitcoin (BTC) price revisited levels below $43,000, and many of the top altcoins by volume were also seen to have a negative outlook, leading to the widespread belief that the cryptocurrency market is on the decline. On the other hand, Ethereum (ETH) fell back below the $2,300 level today. Despite the declines during the day, XRP managed to maintain the critical $0.50 support level.
Bitcoin and Altcoin Prices: How Much Are They Worth?
A decline in Bitcoin price was observed before Monday. As of the time of writing on Monday, February 5, Bitcoin’s price retreated to $42,645.17, a 1% decrease. On the other hand, the trading volume saw a 36.79% increase over the last 24 hours, rising to $15.39 billion. Its overall market cap is still below $850 billion, at $828.42 billion.
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On the altcoin front, Ethereum’s price retreated to $2,290.92, a 0.10% decrease as of the time of writing, and its market value was calculated at $275.89 billion. Despite the price drop, ETH experienced a 35.20% increase in trading volume, rising to $5.80 billion.
Binance exchange’s native token Binance Coin (BNB) went against the price drop trend during this period and achieved a 1.43% increase in value, reaching $302.80. The 24-hour trading volume saw a 42.76% increase to $762.80 million.
Solana’s price also fell by 0.85% to $96.64 during this period, moving further away from the $100 mark. Critical developments continue to unfold for XRP, closely monitored by investors. Despite a 2.03% drop in XRP price, it was positioned above the critical $0.5 level, at $0.5049.
Looking at meme coins, Dogecoin‘s price fell by 0.93% to $0.07818 and remains below $0.08. Its closest competitor, Shiba Inu (SHIB), experienced a 1.48% loss in value and is trading at $0.000008935.
The less frequently mentioned Pepe Coin (PEPE) seems to continue to increase its losses after experiencing a decline of over 15% last week. As of the time of writing, Pepe Coin’s price saw an additional 0.87% decrease to $0.000000895. Pepe’s market value has fallen to $375.81 million.
Today’s Top Performing Altcoins
Leading the frequently mentioned altcoins in recent weeks, Ronin (RON) reflected a significant rise today, contrary to the market trend, and stood out as the biggest gainer of the last 24 hours with a 15.09% increase to $3.47.
The native token of the Olympus Pro Ecosystem, Pendle (PENDLE), also reflected a significant rise to its investors on Monday. As of the time of writing, Pendle’s price saw an 8.98% increase, trading in the $3.13 region.
The post first appeared on COINTURK NEWS: Bitcoin and Altcoins: Price Movements and Market Trends
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