The cryptocurrency market experienced a decline in prices, particularly for Bitcoin, as optimism about Bitcoin ETFs faded. The Crypto Fear and Greed Index also dropped to a three-month low, signaling increased caution among investors. Bitcoin’s price fell to $42,578, down 0.06% in the last 24 hours, while Ethereum saw a 1.5% decline and was trading at $2,510. Tether remained stable, BNB prices rose by over 3.6%, and XRP prices increased by nearly 4%. Solana and Cardano both experienced slight declines.
On the other hand, Pepe, a memecoin, saw a marginal decline of 0.03% with its price at $0.000001226. SUI, the native token of the Sui blockchain network, surged by 13% to reach $1.42. However, trading volumes for SUI dropped by 30% in the past 24 hours.
Pepe Price Falls 0.03%
The frog-themed memecoin Pepe fell marginally to $0.000001226, a 0.03% decline over the past 24 hours. Pepe’s market cap fell to $515 million while trading volumes plummeted over 20% to $61 million.
SUI Price Surges 13%
Sui blockchain network’s native token SUI jumped over 13% in the past 24 hours. At press time, SUI’s price stood at $1.42, while its market cap rose to $1.55 billion. However, trading volumes fell 30% in the past 24 hours, indicating diminishing retail interest in the digital asset.
Hot Take: Cryptocurrency Market Sees Decline as ETF Optimism Fades
The cryptocurrency market experienced a decline in prices, particularly for Bitcoin, as optimism about Bitcoin ETFs faded. The Crypto Fear and Greed Index also dropped to a three-month low, signaling increased caution among investors.
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