The global cryptocurrency market fell sharply after the prices of two major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), nosedived by 8.29 per cent and 7.15 per cent, respectively.
The market fell 7.80 per cent to $1.03 trillion, but the trading volume jumped 22.87 per cent to $81.57 billion in the last 24 hours to Friday evening, according to Coinmarketcap.com.
Gnosis was Friday’s top gainer, increasing by 5.23 per cent to $184.54 in the last 24 hours. The top loser was Filecoin, trading at $6.67, down 18.50 per cent decrease in the same period.
Bitcoin (BTC): BTC fell 8.29 per cent to $21,534. Its market cap decreased by 8.29 per cent to $411.8 billion, and its trading volume increased by 18.5 per cent to $32.9 billion.
BTC’s market dominance plummeted by 0.27 per cent to 39.76 per cent.
Ethereum (ETH): ETH fell 7.15 per cent to $1,719, and its market cap decreased by 7.14 per cent to $209.8 billion. The trading volume was up 19.38 per cent to $21.04 billion.
Ripple (XRP): XRP’s price fell by 10.34 per cent to $0.3389. While its market cap decreased by 10.34 per cent to $16.7 billion, the trading volume increased by 27.37 per cent to $1.4 billion.
Solana (SOL): SOL’s price fell by 11.98 per cent to $36.15 despite positive developments. On late Thursday, the Solana team had announced the launch of a blockchain search engine, called Ora, which allows users to search on-chain data (data on the blockchain) using simple language.
They can also filter transactions by date, time, wallet address, and amount. According to media reports, the idea of a blockchain search engine emerged from Solana’s summer camp hackathon.
SOL’s market cap fell 11.98 per cent to $12.6 billion on Friday, while the trading volume increased by 24.04 per cent to $1.5 billion.
Cardano (ADA): ADA’s price decreased by 14.81 per cent to $0.4609. Its market cap fell 14.35 per cent to $15.6 billion, and its trading volume increased by 50.77 per cent to $1.1 billion.
Dogecoin (DOGE): DOGE’s price decreased by 14.25 per cent to $0.06915, its market cap fell by 14.25 per cent to $9.1 billion, and its trading volume increased 32.14 per cent to $944.2 million.
Shiba Inu (SHIB): SHIB’s price fell 12.41 per cent to $0.00001288. Its market cap fell 12.41 per cent to $7.07 billion, and trading volume increased by 2.82 per cent to $874.9 million.