Ripple (XRP) Price Holds Strong Relative to Broader Altcoin Meltdown
Main Idea
The cryptocurrency market is experiencing a significant downturn, with Bitcoin and most altcoins seeing notable losses, while a few like TONCOIN and ENA show minor declines.
Key Points
1. The total cryptocurrency market capitalization has dropped by more than $130 billion due to bearish trends.
2. Bitcoin fell by 3% in the past 24 hours, and major altcoins like Ethereum, BNB, and SOL saw declines of 6%, 4.5%, and 5% respectively.
3. TONCOIN and ENA are among the few cryptocurrencies with minimal losses, dropping by only 1.2%.
4. XRP saw a surge in interest in the US during Q2, surpassing Ethereum in trading volume on Coinbase.
5. HYPE was the worst performer, dropping by 11%, followed by Curve DAO (CRV) and SPX6900 (SPX), both down by about 7.5%.
Description
The bears are having a field day, pushing the total cryptocurrency market capitalization down by more than $130 billion. This comes on the back of considerable losses from Bitcoin, which dropped by 3% in the past 24 hours. However, the majority of altcoins are having it way worse. Ethereum is down by 6%, BNB by 4.5%, SOL – by 5%, while many of the large caps are trading at discounts greater than 4%. Source: Quantify Crypto That said, there are only two tokens in the top 50 that are in the green,...
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