Cryptocurrencies still in red; memecoin Shiba Inu down 7%, SOL, AVAX, MATIC take a hit

The slowdown in the cryptocurrency markets has continued this Wednesday morning as well. The global cryptocurrency market cap has taken a hit and is down by 2.50 per cent over the last 24 hours. Data from CoinMarketCap, a cryptocurrency data aggregator, highlighted that the world’s cryptocurrency market cap stands at $ 1.12 trillion, lower than Tuesday’s levels. The total crypto market volume over the last 24 hours stands $73.44 billion, marking a 13.73 per cent increase from the last trading session. Check today’s crypto prices here.

Bitcoin, Ethereum and BNB

Cryptocurrency heavyweights, Bitcoin, Ethereum and BNB have also slipped over the past 24 hours.

Bitcoin is trading at $23,451, down 2.22 per cent. Ethereum network’s Ether token also showed a downtrend of2.29 per cent. The cryptocurrency is trading at $1,847. Binance Smart Chain’s cryptocurrency BNB slipped 3.89 per cent.


USDT Tether stablecoin showed 0.01 per cent positive change in its value over the last 24 hours to maintain its peg at $1. USDC stablecoin rose 0.02 per cent to ensure it remained pegged at $1.

BinanceUSD tumbled 0.06 per cent. The stablecoin is trading at $0.0994 whereas stablecoin DAI slipped 0.04 per cent yet maintained its peg at $1.

Layer 1 blockchain tokens  

Cryptocurrency tokens native to Layer 1 blockchain networks like Ripple, Cardano, Solana, and others also tanked over the last 24 hours.

Cardano’s ADA token slid 3.46 per cent. Solana slipped by 6.40. Avalanche’s AVAX is down 5.95 per cent. Ripple’s XRP dropped 2.60 per cent.

Polkadot and Polygon

Polkadot blockchain’s DOT fell 5.34 per cent and Polygon’s MATIC slipped by 5.59 per cent.


Memecoins like Dogecoin and Shiba Inu also took a hit over the past 24 hours. Dogecoin slid 4.47 per cent. Shiba Inu crashed 7.27 per cent.

Overall, majority top cryptocurrency tokens slipped from their positions over the last 24 hours.

Also Read: 15 million crypto users left in limbo as Binance-WazirX Twitter feud continues – BusinessToday

Also Read: INR withdrawals on Bitbns take a hit; crypto exchange says bank account blocked by police – BusinessToday

This news is republished from another source. You can check the original article here.

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