As Bitcoin’s price continues plunging further, it is also dragging other cryptocurrencies with it. This is because as investors start selling Bitcoin (BTC), it results in a selling-spree all over the crypto-verse. This is the reason why other major cryptocurrencies are also under fire as investors have also started dumping them as well.
While Bitcoin and Ethereum continue experiencing the plunge, more major cryptocurrencies are also undergoing huge price dips.
The first cryptocurrency after BTC and ETH experienced the plunge is Binance Coin (BNB). From CoinMarketCap, it has been observed that its price has plunged by 7.55% in the past 24-hours.
A further dive into BNB’s performance graph shows that its trading volume has surged by 147.81%, coming all the way up to $4,772,250,347. At the time of writing, BNB’s price is $561.66 per BNB and its market valuation is $93,847,874,438.
After Binance Coin, the fourth-largest cryptocurrency is Solana (SOL) that has observed a 9.94% plunge in its price in the past 24-hours. A further dive into SOL’s performance graph shows that its trading volume has surged by 87.99%, coming all the way up to $6,895,539,476. At the time of writing, SOL’s price is $204.85 per SOL and its market valuation is $6,253,338,971.
After Solana, the fifth-largest cryptocurrency is Cardano (ADA) that has observed a 14.08% plunge in its price in the past 24-hours. A further dive into ADA’s performance graph shows that its trading volume has surged by 60.26%, coming all the way up to $6,664,856,535. At the time of writing, ADA’s price is $1.40 per ADA and its market valuation is $46,148,610,493.
After Cardano, the sixth-largest cryptocurrency is XRP (XRP) that has observed a 17.80% plunge in its price in the past 24-hours. A further dive into XRP’s performance graph shows that its trading volume has surged by 207.22%, coming all the way up to $6,747,542,051. At the time of writing, XRP’s price is $0.7972 per XRP and its market valuation is $37,667,832,685.
After XRP, the seventh-largest cryptocurrency is Polkadot (DOT) that has observed an 18.11% plunge in its price in the past 24-hours. A further dive into DOT’s performance graph shows that its trading volume has surged by 219.37%, coming all the way up to $2,976,310,196. At the time of writing, DOT’s price is $28.90 per DOT and its market valuation is $28,541,257,901.
For now, almost the entire crypto-verse is facing a downward trend and it may continue for some time. The data from TradingView and CoinMarketCap shows that the trend may continue until the end of 2021. At the beginning of 2022, it is expected that positive developments will be taking place surrounding Bitcoin. This may help boost the price of Bitcoin and uplift the overall crypto-verse.