Cryptocurrency markets are in the red this Wednesday morning. The global market cap is down by 1.68 per cent over the last 24 hours and is at $1.06 trillion as of 6:00 AM IST, CoinMarketCap data showed.
Bitcoin is down by 1.77 per cent and is trading at $22,803.
Ethereum also showed downtrend and is trading at $1,604. The cryptocurrency slid 1.88 per cent down.
The USDT Tether showed 0.01 per cent negative change in its value over the last 24 hours. The stablecoin is trading at its peg of $1.
The USDC stablecoin showed 0.02 per cent negative change and maintained its peg at $1, while the BNB token fell 1.18 per cent over the last 24 hours.
BinanceUSD stablecoin rose to the spot of the sixth most valuable cryptocurrency, as per market cap. The cryptocurrency rose 0.11 per cent over the last 24 hours.
XRP Ripple settled at the seventh spot as per market cap after witnessing a downtrend of 3.50 per cent over the last 24 hours.
BinanceUSD stablecoin slipped to the spot of the seventh most valuable cryptocurrency, as per market cap. The cryptocurrency rose 0.28 per cent over the last 24 hours.
The ADA token slid 3.58 per cent, while Solana fell by 8.43 per cent over the last 24 hours.
Dogecoin fell 3.97 per cent in the last 24 hours, and stablecoin DAI is down 0.01 per cent.
Polkadot blockchain network’s DOT token slipped 4.56 per cent over the last 24 hours.
Polygon network’s MATIC reclaimed the spot of the thirteenth most valuable cryptocurrency as per market cap although the token slipped 2.89 per cent.
Avalanche’s native crypto AVAX tumbled 3.13 per cent, and memecoin Shiba Inu rose 2.58 per cent.
Overall, majority top tokens slipped from their positions over the last 24 hours. Despite the downtrend, the global market cap is above $1 trillion levels.