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Crypto Markets Witnesses a Massive Downslide; Bitcoin Falls Below $39,000

Crypto Markets Witnesses a Massive Downslide; Bitcoin Falls Below $39,000

Cryptocurrency markets tanked over the weekend, with the worldwide market cap down 3.80% in the last 24 hours to $1.70 trillion as of 8:00 a.m. IST, according to CoinMarketCap statistics.

Bitcoin, the most valuable cryptocurrency, has dropped 3.44 percent in the last 24 hours. It was worth $38,168 at the time. The ETH token has also lost 4.81 percent of its value.

Unlike the USDT stable coin, which has remained unchanged in value over the last 24 hours, the USDC stable coin has dropped by 0.05 percent.

Both of these tokens are tied to the US Dollar, which is worth noting. The BNB coin, which is exclusive to the Binance exchange, has lost 4.40 percent of its value. XRP Ripple was also down 4.62 percent.

In the last 24 hours, Terra LUNA has lost 9.60% of its value. However, it is worth noting that the token’s value has increased by 7.31 percent since last Monday.

The ADA coin, which is based on the Cardano blockchain, has lost 6.27 percent of its value. The Solana exchange’s SOL token also dropped 7.20 percent.

The Avalanche token, currently the tenth most valuable cryptocurrency by market capitalization, fell 6.95 percent to $71.50. Dogecoin and Shiba Inu, two meme coins, were also affected by the downturn. They both fell by 3.89 and 4.83 percent, respectively. Donations of crypto assets to Ukraine, in particular, have slowed. Over the course of the year, Ukraine added little over $4.5 million to its coffers.

Tokens like Meta Speed Game, which increased by 575.77 percent, and Sakura Bloom token, which increased by 359.43 percent, were the top gainers of the day. Alien Shiba Inu and Amazing Doge are just a few of the parody meme coins that have seen a 200 percent increase in value.

Furthermore, prominent players on Friday, such as the ASIX and Doge Rise Up, have dropped by almost 80% in the last 24 hours. Megan Swap, TATA currency, and ZUM token were among the other tokens that plunged by more than 75%, making them the day’s largest losers.

Ellan Hare is a bitcoin trader and actively participates in bitcoin exchange. She also writes blog to guide people dealing with bitcoin exchange. She write latest bitcoin news for She is an avid traveller.