Cryptocurrency Price Update|The King Coin: Bitcoin under $30k – Struggling?
In the journey to the adoption of cryptocurrency, Bitcoin happens to be the first and most famous cryptocurrency ever. The coin allows holders to engage in a peer-to-peer(P2P) mode of exchange, which is the basis of a decentralized protocol. Through a public transactional ledger called the Blockchain and integrating cryptography, transactions of Bitcoin are carried out.
The digital currency that was launched anonymously in January 2007 has remained the Boss of all Cryptocurrencies and has hugely affected the price of the market in so many years, like recently as it struggles below $30k as the bear market intensifies.
As of Sunday, the crypto market witnessed another wave of volatility with rising valuation and a giant drop in volumes. The King Coin; Bitcoin as usual dragged a large bulk of Cryptocurrencies into the market as it plunged below $30,000 and, canceled previous gains. With this price slump, Bitcoin’s prevalence has dropped in the last 24 hours.
According to CoinMarketCap, Bitcoin is currently trading at $29,868.21 rising at 0.4%. With a total market cap of about $570 billion. The Bitcoin diluted market cap at the time of writing stood at nearly $623 billion but has been corrected.
Bitcoin also dropped by 9.45% to $15.7 billion in volume in the last 24 hours.
The King Coin gained about 2% in the last trading sessions as opposed to Ether which traded at about $1,800 and was up by 1.71%.
On the other hand, the top performers in crypto and Cryptocurrencies that underperformed in terms of percentage were:
In terms of their percentage gains, the top-performing crypto tokens at the time of writing were:
•Chainlink (LINK): A software platform that helps connect several blockchains with external data. LINK mounting over 8%
• Avalanche (AVAX): which is acclaimed to be the fastest smart contracts platform on the blockchain. AVAX gaining almost 6%
•Solana (SOL): Said to be the fastest blockchain and with a high-growth rate. SOL the native token of Solana rose by 5% and over.
• Algorand (ALGO): A proof of stake Blockchain protocol with the ALGO native token moved up by 4.7%
• ICON (ICX): is an interoperability blockchain protocol that facilitates the connection of multiple blockchains together. ICX was seen moving up by 3.4%
• STEPN (GMT): The Cryptocurrency built on the Solana blockchain, falling almost 6%
• WAVES: The decentralized blockchain platform that focuses on custom blockchain tokens and its operations, falling by over 5%
• INTERNET COMPUTER (ICP): describes itself as the world’s first blockchain that runs at web speed and serves content on the web, with unbounded capacity. ICP was seen struggling after losing 3.5%
• BITCOIN CASH: the permissionless and open network. Which empowers users to engage without intrusion. Bitcoin Cash also fall by about 3.5%
• THORCHAIN: A decentralized liquidity protocol that allows users of the protocol to swap their assets seamlessly and without permission. THORChain plunged downward with over 2.5%
Many hopes for Bitcoin in the new week to surpass 30k dollars and beyond.