The cryptocurrency market displayed weakness in early morning trade in Asia on Monday. The leading cryptocurrency Bitcoin witnessed a drop in its prices as the optimism about exchange-traded funds (ETFs) tracking Bitcoin evaporated.
The Crypto Fear and Greed Index hit a three-month low, falling back to “neutral” – for the first time since October last year. This implies that investors have become more cautious since the launch of US-listed spot Bitcoin products.
Earlier this month, the OG cryptocurrency Bitcoin surged to almost $49,000, the highest level in nearly 2 years, in anticipation of the approval of spot Bitcoin ETFs in the US. However, Bitcoin (BTC) prices have dropped since and stood at $42,578 at press time, down 0.06% over the last 24 hours. Bitcoin’s market cap fell to 834.4 billion while trading volumes were up nearly 10% in the past 24 hours at $19.3 billion.
Ethereum — the second largest crypto by market cap — also saw a 1.5% decline in its prices over the last 24 hours and was changing hands at $2,510 at the time of writing. While Ether’s market cap slid to $301.7 billion, trading volumes nosedived over 7% to $10.1 billion in the past 24 hours.
While Tether (USDT) prices remained flat, BNB prices jumped over 3.6% to $313.11, while XRP prices stood at $0.58, up nearly 4% over the last 24 hours. Meanwhile, Solana (SOL) price fell by 0.8%, and Cardano (ADA) price declined by over 1%.
Both Avalance (AVAX) and Dogecoin were trading in the green at press time, while Shiba Inu (SHIB) saw a nearly 0.9% drop in its prices in the past 24 hours. The global crypto market fell 0.12% to $1.68 trillion.
Top 3 Cryptos For Today
Pepe Price Falls 0.03%
The frog-themed memecoin Pepe fell marginally to $0.000001226, a 0.03% decline over the past 24 hours. Pepe’s market cap fell to $515 million while trading volumes plummeted over 20% to $61 million.
Pepe Price Chart
SUI Price Surges 13%
Sui blockchain network’s native token SUI jumped over 13% in the past 24 hours. At press time, SUI’s price stood at $1.42, while its market cap rose to $1.55 billion. However, trading volumes fell 30% in the past 24 hours, indicating diminishing retail interest in the digital asset.
SUI Price Chart
Optimism (OP) Price Declines 7%
The Optimism (OP) token slid 7% over the last seven hours to $3.54, with its market cap coming down to $1.4 billion. Meanwhile, trading volumes over the last 24 hours were up 24% to $266.1 million.
Optimism (OP) Price Chart; All Image Credits: CoinMarketCap
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