Cryptocurrency markets are in the red this Monday morning. The global market cap is down by 0.83 per cent over the last 24 hours and is at $1.09 trillion as of 7:00 AM IST, CoinMarketCap data showed.
Bitcoin is down by 1.37 per cent and is trading at $23,405.
Ethereum also showed slight downtrend and is trading at $1,690. The cryptocurrency slid 0.80 per cent down.
The USDT Tether showed 0.01 per cent positive change in its value over the last 24 hours. The stablecoin is trading at its peg of $1.
The USDC stablecoins showed 0.02 per cent positive change and maintained its peg at $1, while the BNB token fell 0.75 per cent over the last 24 hours.
XRP Ripple witnessed a downtrend of 2.02 per cent over the last 24 hours.
BinanceUSD stablecoin reclaimed the spot of the sixth most valuable cryptocurrency, as per market cap. The cryptocurrency rose 0.14 per cent over the last 24 hours.
The ADA token slid 0.49 per cent, while Solana fell by 0.98 per cent over the last 24 hours.
Dogecoin fell 1.20 per cent in the last 24 hours, but stablecoin DAI is up 0.01 per cent.
Polkadot blockchain network’s DOT token was one of the top tokens to show uptrend despite overall negative cues. The crypto token rose 6.96 per cent over the last 24 hours.
Polygon network’s MATIC token slipped 3.79 per cent.
Avalanche’s native crypto AVAX tumbled 0.89 per cent, and memecoin Shiba Inu slipped 0.37 per cent.
Overall, majority top tokens slipped from their positions over the last 24 hours. Despite the downtrend, the global market cap is above $1 trillion levels.
Also Read: Ethereum zooms 60% in a month; will the rally continue after the merge? – BusinessToday
Also Read: How US Fed Reserve rate hike impacts cryptocurrencies – BusinessToday
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