In the volatile cryptocurrency market, Bitcoin (BTC) has fallen below the $40,000 mark, while some smaller altcoins outperformed their larger counterparts. Bitcoin experienced a drop below $39,000 before recovering slightly, currently trading at $39,728 with a 1.25% decrease and a 24-hour trading volume down by 1.99% to $30.19 billion. Despite short-term challenges, Bitcoin’s market value remains strong at $777.14 billion.
Ethereum (ETH) saw a significant drop of 5.26%, trading at $2,222.96, but its trading volume increased by 21.76% to $16.59 billion. This reflects a broader market downtrend influenced by external factors.
Looking beyond the major cryptocurrencies, Binance Coin (BNB) fell by 5.13% to $294.20, while Solana dropped by 0.93% to $84.38, though its trading volume rose by 19.62% to $3.14 billion. XRP decreased by 2.42% to $0.5168 with a 25.92% increase in trading volume, reaching $1.41 billion. Cardano declined by 3.11% to $0.4674, with its trading volume up by 26.13% to $557.39 million.
In the meme coin sector, Dogecoin fell by 2.75% to $0.07872, and Shiba Inu dropped by 8.35%, trading at $0.000008804. Despite a 16.54% increase in trading volume to $71.54 million, Pepe coin’s price fell by 3.60% to $0.000001029.
Amidst market turbulence, some cryptocurrencies showed resilience. Akash Network (AKT), an AI-focused crypto, defied the downtrend with a 14% increase, reaching a price of $2.76 and a market value of $623.39 million. Blur (BLUR) also recorded a significant rise of 8.88% to $0.664, with its trading volume surging by 50.08% to $405.74 million.