Market Cap Drops to $2.39T Amidst Crypto Red Zone; Bitcoin Dominance Rises

Bitcoin’s market value recently dipped below $63,000, reflecting a broader downturn across the cryptocurrency sector. The majority of the top ten cryptocurrencies are experiencing significant declines, signaling a challenging period for investors.

As highlighted by CryptoRank, an analytic firm, Solana (SOL) dropped by 6.18%, Dogecoin (DOGE) fell by 4.65%, and Toncoin (TON) decreased by 4.51%. This downtrend has contributed to an overall market capitalization decrease of 5.33%, bringing the total to $2.39 trillion. 

Despite these losses, Bitcoin’s market dominance has risen by 3.12%, now standing at 51.74%. The current Fear & Greed Index is neutral at 51, indicating a balanced sentiment among investors.

Solana’s live price today at press time is $125.37, with a trading volume of approximately $1.84 billion over the last 24 hours. This represents a 6.88% decline in value. Dogecoin is trading at $0.117780, with a 24-hour trading volume of $679.72 million, reflecting a 6.02% decrease. Toncoin’s price is at $7.22, with a trading volume of $342.93 million, down 5.35% in the last day.

However, amidst the overall market decline, several cryptocurrencies have emerged as significant gainers. Pluton (PLU) leads the pack with an impressive 34.5% increase. Trading at $4.38, Pluton saw a trading volume of $3.03 million in the past 24 hours, rising by 25.89%. Daddy Tate (DADDY) also posted substantial gains, up by 29.7%. Currently priced at $0.148111, its trading volume reached $31.72 million, reflecting a 17.24% increase.

Additionally, LimeWire (LMWR) experienced a 23% surge. With a live price of $0.448482 and a trading volume of $12.46 million, LimeWire rose by 28.13% in the last 24 hours. Metal DAO (MTL) also saw significant gains, rising by 18.2%. Trading at $1.60, it recorded a trading volume of $130.48 million, increasing by 21.69%.

Donato Creator Token (DON) posted a 9.38% increase, though its overall impact was less significant. Priced at $0.000815, with a trading volume of $6,391.66, Donato Creator Token saw a slight decline of 0.43% in the last 24 hours, indicating mixed performance among lesser-known tokens.