The cryptocurrency market plummeted substantially, dragging the crypto market capitalization beneath $800. Bitcoin plunged beneath $16K, and most alternative tokens, including Binance Coin and SOL, traded with heightened cuts early today.
The crypto market capitalization declined by nearly 5.07% to $793.61B, whereas the trading volume increased by 67.54% to $55/84 billion (Coinmarketcap data). UNUS SED LEO led today’s gainers with its 1.76% uptick to $4.42.
Meanwhile, Chiliz led the downside journey. CHZ hovered near $0.1879 during this writing, losing a staggering 18.57% over the past day. Most assets print bearish pictures.
Bearish tendencies saw Bitcoin losing more than 4% to $15,961. The leading crypto traded with gains up to 20 November. Meanwhile, downtrends emerged to drive BTC lower early today. That came as Bitcoin attempted price recoveries before losing the upside strength an hour later to dip under $16K.
BTC hit its lowest intraday price at $15,975.76, whereas its volume hit $24,307,026,259 – a 50.46% surge. Ethereum followed BTC bias, plummeting 7.88% over the past day to $1,122.41. The alternative token endured a downward spree, hitting a new price low each hour and threatening to violate the psychological $1,100 mark at some point.
However, its trading volume stayed elevated. Ethereum touched its lowest zone at $1,115.44. Also, the asset’s trading volume gained 15.35% to $10,130,901,456. Downside moves by the leading crypto assets triggered bearishness in most digital tokens.
SOL surrendered 8.08% to hit $11.74. Ripple and Cardano lost 10.38% and 7.71% to $0.3508 and $0.3048, respectively. Also, Binance Coin hit $258.31 after dropping 5.49%.
The leading meme coin, Dogecoin, suffered a double-digit decline, losing 11.64% to $0.0749. DOGE’s trading volume gained 124.01% to $567,747,382. Also, Shiba Inu plummeted by 6.77% to $0.000008561. The tokens will likely resort to upsides when the broad market presents improved sentiment.
Yearn.Finance dropped 7.71% to $5,946.05, whereas its daily trading volume soared by 16.24% to $51,001,874. Also, Avalanche and AAVE slumped, losing 8.78% and 5.4% to $11.78 and $55.79, respectively.
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