The global crypto market cap has dropped by 0.35%, taking its value to $2.32 trillion. The effects of this downfall are evident in other digital assets, with only a handful of them fetching good numbers at press time. The FGI is neutral and hovering around 49. The 24-hour trading volume witnessed a notable drop.
Where are BTC and ETH?
Building on yesterday’s positive momentum, where Bitcoin price was trading around $63k, Bitcoin ($BTC) is currently holding steady. The BTC price has experienced a minor correction of 0.22% in the last 24 hours, bringing the price down to $63,064.27. Despite this slight dip, Bitcoin has gained 2.90% over the past week and maintains its dominance over the cryptocurrency market, with a market share exceeding 50%.
Ethereum ($ETH) is following the trend; however, it has breached $3,400 this time. Speculation is that the token is approaching the final approval of Spot Ether ETF by the US SEC. It could go on the floor as early as July 04, 2024. The last 24 hours have seen the token come down by 0.82%, and the hour has brought it down by 0.01%.
Status of meme coins
The market cap of the meme coin segment is down as well – by 1.7%. The 24-hour reading volume has gained 5.33% as the article is being drafted. BONK is leading the bag with an uptick of 12.41% in the last 24 hours. It also reflects a jump of 18.35% in the last 7 days. Hourly fluctuations have brought down the token to $0.00002652 by 1%.
Dogecoin and Shiba Inu are down. They are beginning to close the gap between their market cap, for DOGE is down to $17.94 billion. PEPE has underperformed per the community’s expectations. The frog-themed token is listed at $0.00001151, down by 3.27% in the last 24 hours and 0.18% in the last 1 hour.
Other gainers and losers
The uptick is less notable, but XRP’s future has kept the trading game alive for its holders. XRP has seen price gains of 0.09% in the last 24 hours and 0.04% in the last hour. It could go higher as the Ripple vs. SEC legal battle inches closer to the final verdict.
Reportedly, both parties could have a judgment any day now. The judgment pertains to the offering of digital assets and entails curbing the penalty amount to a reasonable level.
Solana ($SOL) has made massive gains in the last 7 days. It is up by 10.07%. TON and ADA are also up by 2.26% and 2.29%, respectively, in the last 24 hours.
Conclusion
Bitcoin and Ethereum are down; however, sentiments on a broader level remain neutral. Several other digital assets have held the flag, such as SOL, TON, and ADA. Moving forward, all eyes are on the Spot Ether ETFs’ approval. It is likely to drive the demand with a decent capital inflow.
Disclaimer: The crypto market remains subject to volatility. Before allocating funds, it is recommended to conduct thorough research and risk assessment. This article is neither a recommendation nor advice but merely a piece for reference.