All Top 10 Cryptos Down in Red as Bitcoin Drops Below $43K

CryptoRank, a leading crypto research and analytics platform in the crypto industry, has shared an update on the crypto market situation as of today, January 13, 2024. According to CryptoRank, all the top 10 cryptocurrencies by market cap traded in the red zone, following BTC’s slump to the $43,000 region.

Bitcoin’s price dropped significantly on Friday after registering a yearly high the day before. Friday’s slump saw the flagship cryptocurrency lose 7.75% of its value between its opening and closing price, according to data from TradingView. As of CryptoRank’s update, Bitcoin had recovered slightly, and the 24-hour loss was 6.92%.

CryptoRank singled out AVAX and SOL from among the top 10 cryptocurrencies by market cap, showing that AVAX, the native token of the Avalanche blockchain, had lost 7.96% of its value in the preceding 24-hour period while Solana’s SOL lost 7.07% during the time under review.

Almost all of the crypto market’s significant metrics slumped, according to CryptoRank’s update, including the crypto market capitalization, which dropped to $1.76 trillion, marking a 7.11% loss in 24 hours. However, BTC dominance made a slight gain of 0.54% to reach 47.82%, as the Fear and Greed Index remained at 64, confirming a dominant greedy sentiment in the crypto market.

While most large-capped cryptos slumped in price, some smaller-capped tokens enjoyed significant upside movements. According to CryptoRank, the top gainers for the day include ROCKY, which gained 54% in 24 hours, TRVL, with a 50% profit, and MYRO, which gained 38.9% during the period under review.

Blockchain projects that unlocked fresh tokens, as reported by CryptoRank include Games For A Living (GFAL), which released tokens worth $8.24 million, and Sweat Economy (SWEAT), unlocking tokens worth $6.23 million. Optimism (OP) also released fresh tokens equivalent to $4.11 million, according to CryptoRank’s update.