The crypto market is crashing yet again after a week full of fluctuations. Last week, the market started on a ‘green’ note and the subsequent crypto crash sessions almost wiped off any profit made during that period. Even the first and largest cryptocurrency, Bitcoin (BTC), couldn’t survive that bearish trend. In addition, several other cryptos barring a few tumbled largely. Except for the U.S. dollar-backed digital currencies like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD), it was pretty difficult to ascertain any ‘green’ performances.
Major Cryptos Affected By Crypto Crash
Here is a list of all popular cryptocurrencies that saw a substantial decline during today’s crypto crash. There is also a snapshot of their performance provided which was taken from CoinMarketCap before the time of writing.
- Bitcoin (BTC): The crypto behemoth lost 2.27% and traded at $21,912.79 at the time of writing on Monday, July 25, 2022. The market capitalization of the BTC token stood at $418.74 billion, down by 2.30%. However, the 24-hour trade volume gained significantly by 14.55% and was at $28.07 billion. Earlier last week, it was below the $23,000 mark and is following the trend currently.
- Ethereum (ETH): The second-largest digital currency dipped by 3.50% and traded at $1,526.17 at press time on Monday, July 25, 2022. The market valuation of the ETH crypto stood at $185.71 billion, declining by 3.49%. However, the 24-hour trade volume surged by 30.50% and was at $19.68 billion.
- Cardano (ADA): Another renowned crypto investment token, saw a drop of 4.68% and traded at $0.4948 at the time of reporting on Monday, July 25, 2022. The market valuation of the ADA crypto stood at $16.69 billion, losing a 4.65% value. Moreover, the 24-hour trade volume dipped slightly by 2.76% and was at $889.77 million.
- Solana (SOL): The SOL token with a rank of 9 at CoinMarketCap saw a decline of 5.78% and traded at $38.45 at the time of drafting on Monday, July 25, 2022. The market valuation of the SOL coin stood at $13.29 billion, losing a 5.76% value. In contrast, the 24-hour trade volume rose slightly by 7.82% and was at $1.2 billion.
- Dogecoin (DOGE): We could definitely not miss out on the King of Meme Coins that lost 5.16% and traded at $0.06517 at press time on Monday, July 25, 2022. The market valuation of the DOGE token stood at $8.6 billion, decreasing by 5.30% in value. In addition, the 24-hour trade volume declined merely by 0.93% and was at $423.39 million.
The ‘red’ trend has made several people question “why is crypto crashing today” but the answer to it is still uncertain. This is because, for a long time, these bearish trends have been attributed to U.S. inflation pressures, interest hikes, and the Russia-Ukraine War (in the early months of 2022). However, currently, the persistent crypto crash sessions do not have an identified source but might have been induced by several crypto lenders’ distraught that went bankrupt overnight, the most recent being Celsius.
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