The cryptocurrency market followed a fluctuating course on Saturday, March 23, 2024. While Bitcoin (BTC) price fell below $64,000, Ethereum (ETH) price fell below $3,400. In contrast, some altcoins such as Toncoin and Gala showed a significant rise. Solana, on the other hand, experienced a decline. In this complex picture, investors are wondering which way to go: Bullish or bearish?
Bitcoin price and other major altcoins are declining
The cryptocurrency market experienced a rollercoaster ride on Saturday, March 23, with major players such as Bitcoin (BTC) declining while some altcoins defied the bearish trend. Bitcoin, the undisputed king of cryptocurrency, could not hold on to its gains and once again fell below the critical $64,000 level. At the time of writing, BTC was trading at $63,980.52, down 2.96%. This price drop was accompanied by a decrease in transaction volume. Because it decreased by 3.96% in the last 24 hours to 40.30 billion dollars.
Ethereum (ETH), the second largest cryptocurrency, presented a similar picture. ETH failed to challenge the decline and fell 5.45% to $3,331.53. In addition, the trade volume, which decreased by 2.90% in 24 hours to 20.24 billion dollars, attracted attention. Ethereum’s market cap currently stands at $399.85 billion. Altcoins’ performance was mixed. Binance Coin (BNB) followed the broader market trend. It settled at $551.15, witnessing a price decline of 4.75%. Interestingly, BNB’s trading volume defied the downward trend. It rose by a staggering 7.41% to $2.84 billion in the last 24 hours.
Solana, XRP, BNB are falling
Solana (SOL), a popular smart contract platform, continued its struggle to stay above the $170 level. SOL price fell 3.77% to $172.33, accompanied by a significant decrease in trading volume. In the last 24 hours, SOL’s trading volume decreased significantly by 21.58% and reached 3.99 billion dollars. Another prominent altcoin, XRP (XRP), also succumbed to the downward pressure and fell below the $0.62 level. XRP price decreased by 3.81% and settled at $0.6121.
Similar to Solana, XRP’s trading volume also experienced a significant decline, dropping 34.67% to $1.85 billion in the last 24 hours. Another major altcoin player, Cardano (ADA), showed a slight decline. ADA price decreased by 2.19% to $0.6207 in the last 24 hours, and transaction volume decreased by 7.65% to $576.36 million. Dogecoin (DOGE) managed to reach $0.1605, up 2.56%. Conversely, rival Shiba Inu (SHIB) failed to impress and fell 1.28% to settle at $0.000027.
Toncoin and Gala experienced an increase
Even amidst the overall correction in the market, some lesser-known players have defied the odds. Toncoin (TON), the cryptocurrency launched by messaging giant Telegram, emerged as the highest-earning cryptocurrency today among the top 100 coins by market value. TON price increased by a remarkable 8.38% and reached $4.68.
However, it is worth noting that this increase was accompanied by a dramatic decrease in trading volume, falling by a staggering 96.85% in the last 24 hours to $214.68 million. On the other hand, Gala (GALA) was one of the highest rising altcoins in the top 100. GALA is currently changing hands at $0.061, an increase of 6.5 percent.
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