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    Friday, October 16

    Bitcoin Gives Up Gain as Top Cryptocurrencies Decline

    Olu AnisereBy Cryptocurrency No Comments1 Min Read
    Bitcoin Gives Up Gain as Top Cryptocurrencies Decline

    Bitcoin Gives Up Gain as Top Cryptocurrencies Decline

    As the market begins to make a fresh uptrend, there was a selloff on large-cap cryptocurrencies today. Bitcoin (BTC-USD), the largest cryptocurrency by market value, dropped 4% in the past 24 hours to $22,844, according to CoinDesk data. Trading volume was at $35.07 billion, down 14%.

    The recent decline expanded the most popular cryptocurrency’s year-to-date loss to nearly 51%, compared with 23% for the tech-heavy Nasdaq 100 index and more than 16% for the S&P 500 index. READ: Crypto Trading Volumes Tumble 40% as Bitcoin Suffers

    Ethereum (ETH-USD), the second-largest digital asset, decreased 1.8% to $1,539, extending its 2022 loss to 58%. XRP (XRP-USD), Cardano (ADA-USD), and Solana (SOL-USD), the fifth-, sixth- and seventh-largest digital assets, declined 2.1%, 3.9% and 1.9%, respectively.

    The day’s biggest loser on the CoinDesk list was Gala (GALA-USD), the 16th-largest digital asset, with a 6% drop. The overall market capitalization of the cryptocurrency industry slid 2.1% in the past 24 hours to $1.084 trillion, according to CoinGecko data. # Bitcoin Gives Up Gain as Top Cryptocurrencies Decline 

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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