GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout
News

Cardano and Solana Prices Nosedive as BTC Bears Target $60K

The total cryptocurrency market capitalization declined to around $2.35 trillion today, shedding around $100 billion overnight as prices continue to tumble.

Altcoins are charting considerable losses with Cardano (ADA) and Solana (SOL) feeling the pressure.

solana_cardano_cb

Cardano (ADA) and Solana (SOL) Prices Tumble

Altcoins have declined massively in the past 24 hours with the entirety of the cryptocurrency market trading well in the red.

As seen in the heatmap below, SOL crashed by almost 6%, while ADA lost about 4.46%.

crypto_heatmap
Source: Quantify Crypto

With Solana dropping below $130, many are now wondering if the bears will target the coveted $100 level next. ADA, on the other hand, continues its depressing performance with imminent support currently positioned at around $0.35.

BTC Bears Target $60K

Bitcoin’s price is performing slightly better than Cardano and Solana but it seems to be the main catalyst for the market downtrend.

BTC is currently trading at around $61,300, down 4.4% on the day. Sellers are seemingly ready to test the pivotal level at $60K.

The reason behind this movement could be a recent announcement that the Mt. Gox trustee might start Bitcoin and Bitcoin Cash repayments as early as this July. According to a note issued by the exchange:

Now that these preparations are in place, the Rehabilitation Trustee will commence the repayments in Bitcoin and Bitcoin Cas in due course to the cryptocurrency exchanges with which the Rehabilitation Trustee has completed the exchange and confirmation of the required information for implementing the repayments. The repayments will be made from the beginning of July 2024.

The post Cardano and Solana Prices Nosedive as BTC Bears Target $60K appeared first on CryptoPotato.

Latest Press

post-thumbnail
News
24 minutes ago
Cardano (ADA) Sees Record 58% Intraday Reversal, Key Levels to Watch
The post Cardano (ADA) Sees Record 58% Intraday Reversal, Key Levels to Watch appeared first on Coin...
READ MORE
post-thumbnail
News
24 minutes ago
XRP Price Prediction For February 4
The post XRP Price Prediction For February 4 appeared first on Coinpedia Fintech News After a sharp ...
READ MORE
post-thumbnail
News
24 minutes ago
World Liberty Financial Denies Token Sale Rumors
The post World Liberty Financial Denies Token Sale Rumors appeared first on Coinpedia Fintech News W...
READ MORE
post-thumbnail
News
24 minutes ago
MicroStrategy Pauses Bitcoin Purchases Ahead of Earnings Release
The post MicroStrategy Pauses Bitcoin Purchases Ahead of Earnings Release appeared first on Coinpedi...
READ MORE
post-thumbnail
News
24 minutes ago
Cardano Faces Low DeFi Activity as Bearish Threat Continues: Here’s the Next ADA Price Trend
The post Cardano Faces Low DeFi Activity as Bearish Threat Continues: Here’s the Next ADA Price Tr...
READ MORE
post-thumbnail
News
24 minutes ago
David Sacks to Host Press Conference on U.S. Leadership in Digital Asset Ecosystem
The post David Sacks to Host Press Conference on U.S. Leadership in Digital Asset Ecosystem appeared...
READ MORE
default post thumbnail
News
24 minutes ago
Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run
Solana (SOL) faced a brutal selloff yesterday, mirroring the broader market collapse triggered by es...
READ MORE
default post thumbnail
News
24 minutes ago
Bitcoin Traders Fearful For First Time Since October: Buying Signal?
Data shows the sentiment among Bitcoin traders has plunged into the fear territory following the cra...
READ MORE
post-thumbnail
News
24 minutes ago
TRUMP Coin Tanks 18%—Even Donald Trump Couldn’t Save It
Remember the TRUMP meme coin that soared to over $5 billion market value immediately after President...
READ MORE
default post thumbnail
News
24 minutes ago
Top Cryptos to Buy Now for Great Returns – Why BlockDAG, Cardano & Dogecoin Are Key Picks Among Others
Purchasing cryptocurrencies under $1 offers an accessible entry into the high-growth world of digita...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started