The cryptocurrency market faced a downturn as investors exercised caution following BlackRock‘s official filing for an Ethereum ETF. The market decline, initiated on November 16, contradicted expectations of a positive impact from the ETF news, leading to a sell-off in major cryptocurrencies.
Bitcoin and Ethereum Lead the Decline
Bitcoin witnessed a 2.66% drop, reaching $36,422.03, accompanied by a 9.21% decrease in trading volume to $25.59 billion. Despite recent declines, Bitcoin’s 30-day performance showed a growth of over 29%. Ethereum price slumped by 3.36%, trading at $1,984.11, with a 12.06% increase in the last 24-hour trading volume to $14.39 billion.
BNB price decreased by 3.18% to $244.22, while XRP saw a 4.80% decline, trading at $0.6206. Solana‘s price plummeted by 10.48% to $58.62. Dogecoin, however, stood out with a 6.48% increase, reaching $0.08161, and a notable surge in trading volume by 224.27% to $1.73 billion. In contrast, Shiba Inu experienced a 1.61% drop to $0.000008615.
The global cryptocurrency market cap declined by 2.48% to $1.39 trillion, with a 3.25% increase in the overall market volume to $71.17 billion. The fear and greed index stood at 71, indicating a prevailing sentiment of greed in the market.
Top Cryptos Performance
Pepe Coin Chart
Pepe Coin Plunges 7%: The meme coin, Pepe Coin, witnessed a 6.79% decline, trading at $0.000001174, with a 10% decrease in trading volume to $134.53 million.
Yearn.finance (YFI) Adds 9%: Despite the market downturn, YFI showed resilience with a 9.01% increase, reaching $13,960.93, and a notable surge in trading volume by 48.96% to $379.43 million.
Kaspa (KAS) Soars Over 11%: Kaspa crypto surged by 11.07%, reaching $0.1308, accompanied by a 74.26% rise in trading volume to $276.97 million. Over the last 30 days, Kaspa has gained nearly 190%.
Mantle (MNT) Jumps 11%: Mantle crypto emerged as a top gainer with a 10.78% increase, trading at $0.5092, and a 79.27% surge in trading volume to $135.40 million. Over the last 30 days, Mantle has added almost 55%.
The crypto market experienced a mixed performance, with declines in major cryptocurrencies and notable gains in select altcoins.