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