Cryptocurrency markets ended on a volatile note on Thursday, with most of the top coins trading in the red zone. Bitcoin found some relief at its peak after rising 0.25% over the past 24 hours.
However, the rest of the top coins, except for BNB and ADA, ended the day with significant value losses. Conversely, a few meme coins gained speed during the week.
With most markets entering a downturn, traders are waiting for some stability before investing. Here is our daily cryptocurrency update, providing information on the latest market developments.
Bitcoin
The world’s largest cryptocurrency is struggling to find its rhythm. But unlike other cryptocurrencies, this one has gained 0.25% in value over the past 24 hours.
BTC is currently trading near $64,000 and has lost 4.04% over the past 7 days. Another important upgrade for the coin is the $2.4 billion BTC options expiring today. This development will also determine the path of BTC in the coming days.
Ethereum
Unlike Bitcoin, Ethereum has lost more than 1% of its value in the last 24 hours. The coin is nearing $3,100 and has lost 3.90% over the last 7 days.
While BTC is trading steadily above the $64,000 mark, ETH is losing value every day. At the same time, Ethereum ETF flows have turned positive, despite total outflows from ETHE exceeding $2 billion.
Solana
Solana has lost 4.82% of its value in the last 24 hours, and its loss over the past 7 days is 9.20%. The coin was close to reaching the $194 mark a few days ago.
However, it is currently trading at $161.02 and traders are expecting more volatility in the coming days. After the market witnessed $312 million in liquidations, the entire industry was in a state of bloodshed.
The main cause of Solana’s decline is expected to be mass liquidations.
Popcat
SOL-based meme coin Popcat surprised the market. While most coins lost value on Thursday, Popcat gained 11.84% in the last 24 hours.
Amid the plethora of Solana-based meme coins, POPCAT is gaining a notable reputation. Given its 23.16% loss over 7 days, analysts are expecting a reversal in the coming days.
ripple
After several days of bullish momentum, XRP (Ripple) fell 7.29% in the last 24 hours.
The 7-day loss also stood at 6.55%, with the coin currently trading close to $0.56. Similar to SOL, XRP also witnessed a major drop in Ripple due to $312 million liquidations.
Dogecoin
DOGE is one of the meme coins that has lost more than 10% of its value in the last 7 days. In the last 24 hours, the coin has lost 3.27% of its value and is currently trading at $0.1162.
POPCAT has reversed the fortunes of Dogecoin and Pepe, and the latter meme token is struggling. At the same time, with more meme coins appearing every day, it is making it harder for meme coins like Dogecoin to make a mark.