A downward trend continues in the cryptocurrency market, APA-Economics reports.
Bitcoin (BTC), the market leader, has declined by 1.30% over the past 24 hours, falling to the level of $66,330.
The value of Ethereum (ETH) has decreased by 1.11% to $1,947.
No significant changes have been observed among stablecoins, with Tether (USDT) remaining at $0.9991 and USDC at $0.9998.
The altcoin market has also been dominated mainly by declines. XRP fell by 1.42% over the past 24 hours to $1.35. BNB declined by 1.42%, while Solana (SOL) dropped by 2.64%.
TRON (TRX) rose by 0.22%, and Dogecoin (DOGE) increased by 0.47% over the past day.
Overall, the total capitalization of the cryptocurrency market has decreased to $2.27 trillion, representing a daily decline of 1.09%. This dynamic is mainly attributed to weakening risk appetite in the market and increased selling pressure on leading cryptocurrencies amid investors taking short-term profits.
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