ICYMI: some of the leading altcoins plunge by more than 10% as Bitcoin tanks to $34,322 $BTC $ADA $XRP $MATIC
, the cryptocurrency market is a sea of red once again, with some of the leading altcoins plunging by more than 10%. Bitcoin dipped to fresh lows of $34,322, the lowest level in a month, while Ethereum plunged nearly 12% and was trading at $2,376 at press time.
In the last 24 hours, Bitcoin-tracked futures saw $143.29 million in liquidations—the most among all cryptocurrencies—followed by Ethereum futures at $120 million. Overall, the crypto markets saw over $457.55 million in liquidations, as perCardano and Avalanche, two of the top"Ethereum killers," are among the top laggards at the time of writing, plunging by 14% and 15%, respectively. The total market capitalization has now shrunk to $1.58 trillion amid the declines.
Despite recent positive developments in the Ripple v. SEC case that allowed the XRP cryptocurrency to buck the trend for a short period, the cryptocurrency has also cracked under pressure, tanking by 11.68%. In recent updates shared by defense lawyer James K. Filan, another positive win comes for the XRP lawsuit as, in a one-word order, District Judge Torres has denied the SEC's motion to file a sur-sur-reply in support of its motion to strike.
Layer 2 scaling network Polygon has careened 15.29% over the last 24 hours, according to data provided by CoinMarketCap. The token is currently trading at $1.30, as seen on CoinMarketCap.
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