The crypto market today experienced a pullback as Bitcoin (BTC) fell below $98,000, and major altcoins like Ethereum (ETH), Solana (SOL), and XRP saw declines of 2% to 8%. However, The Sandbox (SAND) emerged as a standout performer, surging by 70%, while Decentraland (MANA) also saw a 30% increase.
Market Overview
The global cryptocurrency market value dropped by 2% to $3.3 trillion, with a 5% decline in total market volume, now at $200 billion. Investor sentiment also shifted from ‘extreme greed’ (94) to ‘greed’ (82), signaling caution amid the pullback.
Top Cryptocurrencies by Market Cap: BTC, ETH, SOL, XRP
Bitcoin (BTC): BTC dropped 1% in the last 24 hours, trading at $97,601, with a market cap of $1.93 trillion and a 24-hour trading volume of $52 billion. BTC’s market dominance stands at 58.16%.
Ethereum (ETH): ETH fell nearly 3%, trading at $3,344, with a market cap of $402 billion and a trading volume of $28 billion.
Solana (SOL): SOL experienced a nearly 4% drop, trading at $250, with a market cap of $118 billion and a trading volume of $5.33 billion.
XRP: XRP plunged 7%, trading at $1.38, with a market cap of $78 billion and a 24-hour trading volume of $12 billion.
Meme Coins and Other Altcoins
DOGE: Dogecoin dropped nearly 6%, trading at $0.4199, with a market cap of $61 billion.
SHIB: Shiba Inu fell 7%, trading at $0.00002529, with a market cap of $15 billion.
PEPE, BONK, and FLOKI: These meme coins also saw declines ranging from 6% to 12%.
Top Gainers: SAND and MANA
The Sandbox (SAND): SAND saw a massive 70% surge, trading at $0.83. Its 24-hour trading volume increased by 650%, signaling strong investor interest.
Decentraland (MANA): MANA rose 30%, trading at $0.75.
Axie Infinity (AXS): AXS gained 16%, trading at $8.50.
Top Losers: XLM, ALGO, HBAR
Stellar (XLM): XLM dropped 16%, trading at $0.52.
Algorand (ALGO): ALGO saw an 11% decline, trading at $0.27.
Hedera (HBAR): HBAR fell 10%, trading at $0.1412, with a 50% drop in trading volume.
Market Outlook
Despite the pullback, BTC and ETH appear to be recovering, showing positive momentum. SAND’s significant price jump indicates growing investor optimism, and overall, the market sentiment seems bullish. This shift could indicate potential for further growth in the coming days.
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