Market Downturn and Investor Shift
The cryptocurrency market has continued its downturn performance, with a slump in the broader market. Major cryptocurrencies have also remained in negative territory, indicating a shift in investor focus towards other assets amidst uncertainties. The crypto market fear and greed index currently stands at 44, suggesting a “neutral” sentiment.
Bitcoin, the largest cryptocurrency by market cap, experienced a 0.61% price decline to $27,413.20. Its trading volume decreased by 38.38% to $11.58 billion in the last 24 hours, while its market cap remained unchanged at $534.48 billion.
Ethereum’s price declined by 1.54% to $1,640.51, with a 33.65% decrease in trading volume to $5.28 billion. The crypto’s market cap also tumbled by 1.51% to $197.23 billion.
Other Altcoins’ Performance
BNB (Binance Coin) witnessed a 1.90% price drop to $211.29, accompanied by a 21% decrease in volume to $333.59 million. Cardano experienced a slump of 2.70% to $0.2557, with its market cap falling by 3.20% to $8.97 billion.
Overall Market Decline
The declines in major cryptocurrencies dragged the overall market into negative territory. The global crypto market cap plunged by 0.89% to $1.08 trillion, while the 24-hour trading volume decreased by 14.95% to $36.82 billion.
Pepe Coin’s Decline
On October 4, Pepe Coin, a well-known meme coin, witnessed a 3.12% price decline to $0.0000007159. This decline indicates a growing preference for safer assets. The 24-hour trading volume also decreased significantly by 40.19% to $55.37 million.
XRP’s price experienced a 3.60% gain, trading at $0.5317 over the past 24 hours. Its volume rose by 77.29% to $1.61 billion. This surge is attributed to increased activity from XRP bulls following the US court’s rejection of the SEC’s appeal in the XRP lawsuit.
UNUS SED LEO’s Rise
UNUS SED LEO (LEO) witnessed a 3.25% price increase to $3.84. It emerged as one of the top gainers, with a 4.82% rise in volume to $630.382 from the previous day.
Bitcoin SV’s Slip
Bitcoin SV (BSV) experienced an 7.84% price decline, trading at $36.87, while its market cap decreased by 7.80% to $710.25 million. The crypto’s volume also dropped by 35.58% to $140.23 million in the last 24 hours.