Solana Plunges 7% as Bitcoin, Ethereum, BNB See Declines
The cryptocurrency market is currently experiencing a downturn, with major coins like Solana, Bitcoin, Ethereum, and BNB all facing significant price drops.
Solana (SOL) has seen the most notable decline in the past 24 hours. This drop came following a shift in market sentiment triggered by an underwhelming jobs report, causing Solana’s price to plummet by over 7% within a day. This decline outpaced the losses of other leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and BNB, contributing to an overall market value decrease of more than 4%.
The downward trend in the crypto market coincides with the S&P 500 declining for the third consecutive week, while the Nasdaq 100 has dropped by 10% from its all-time highs last month.
Solana is currently priced at $151.44, experiencing a sharp 7.8% decline over the past 24 hours. The coin’s trading range during this period was between $148.53 and $167.04, indicating significant market volatility. Despite this short-term setback, Solana has managed to achieve a 30-day increase of 12.7%, demonstrating resilience amidst market fluctuations. The coin’s market cap stands at $70.47 billion, with a 24-hour trading volume of $5.57 billion and a circulating supply of 465,387,830 tokens.
BNB, the second-largest dip among large-cap cryptocurrencies, has experienced a 5.8% decline, currently trading at $540.14. Over the past week, BNB has decreased by 8.3%, with a 14-day loss of 8.8%. However, on a yearly scale, BNB has shown a gain of 124.8%. The coin’s market cap is $78.82 billion, with a circulating supply of 145,887,575 BNB.
Ethereum, the second-largest cryptocurrency, has slipped by 5.3% in the past 24 hours, currently priced at $2,988.15. ETH has seen a 7-day decline of 8.8% and a 14-day drop of 14.4%. Despite these challenges, Ethereum’s market cap stands at $359.38 billion, with a 24-hour trading volume of $21.99 billion and a circulating supply of 120,255,176 ETH, highlighting its significant presence in the crypto ecosystem.
Bitcoin, the largest cryptocurrency by market cap, has also faced a 4.5% decline in the past 24 hours, trading at $61,772.38. The coin has seen a 7-day drop of 9.5% and a 14-day decline of 7.2%. However, on a 30-day scale, Bitcoin saw a gain of 6.7%, indicating potential value for long-term holders. With a trading range of $60,704.44 to $65,405.21 in the past day, Bitcoin’s market movements continue to influence the broader crypto market. Its market cap remains dominant, making up more than half of the total crypto market value.
