- The global crypto market cap sees another low of $2.43T, a decrease of 7.27% since yesterday.
- Bitcoin drops dramatically to $53.9k from a high of $58.7k yesterday.
- Ethereum puts distance between itself and $4.5k again.
- Binance Coin drops 10.95% in value, sitting at a price of $569.73.
- Today’s top gainers with the Top 100 are Storj and Ankr.
Another knock-out blow to the crypto world delivered overnight as the global market cap sees such a heinous shade of red in such a short amount of time stunned investors.
While the investors rested, assuming their tokens were doing phenomenal, the market once again strikes agitation into the hearts of investors as a sudden decrease in the market value of all tokens strikes in a manner of hours.
The hopes of investors lie in shambles after waking to such an unexpected turn of events.
Bitcoin suffers a $5k loss in a short span of time
When things were looking up for our top contender, Bitcoin, it had again fallen from its pedestal. Investors went to sleep hoping to wake up to Bitcoin crossing $60k but were disappointed to find out that the opposite had happened.
After a sudden drop last night, Bitcoin could not crawl out of the drop value but kept sinking deeper and deeper until the present point. After wow-ing investors yesterday but crossing $58k yesterday, Bitcoin again drops even lower than the last week, reaching $53,800 value after a 7.86% drop.
Its market cap has dropped to $1.02T, while its trading volume per twenty-four hours is $41.13B.
ETH and BNB investors left at sea after a large value drop
Investors had higher expectations for ETH after doing so well, looking to exceed $4.5k, but now its market cap and trading volume are at $478.31B and $24.43B, respectively. The same has gone for BNB; after giving investors hope of crossing $680, it has instead dropped to where it started, $577.
STORJ and ANKR among top gainers from the last day
Storj is an open-sourced cloud storage platform that has introduced its cryptocurrency. It has gained 42.52% value within the last few hours and 42.61% in the past week. Its price stands at $3.11, while its trading volume is $1.80B, equal to 567M STORJ.
Ranking second on the top gainers’ list but a few notches higher than STORJ is Ankr (ANKR), a cryptocurrency formed by a company centered around creating blockchain solutions. It has risen 22.09% in value up to $0.015 price.
Just as things were looking up for our top cryptocurrencies, the market has suddenly turned itself on its head, and there have been red charts all around.
The crypto market was happy with the sudden influxes in price, but now, just like a sinkhole, the values steadily droop lower and lower, with uncertainty for how long this bearish run will last. As always, the crypto market has ways of surprising us; all we can hope is that the sudden value drop doesn’t go on for too long.
Overturning prices overnight could oppose a serious threat to investors worldwide, while buyers rejoice over the cheap prices and pray that the prices rise. What else is new? Keep on learning.
Matt compares NFTs to trading cards which by now are super valuable. Could this be a gimmick? Or some crazy crypto sympathy momentum in the sector? From July through September, NFT sales hit $10.7 billion! That’s an eightfold improvement on the previous quarter. Read more about NFT Stocks for some interesting tidbits for learning.