Crypto market update: BTC drops to $29,000

The biggest riser of the day out of the top 100 cryptos was UNUS SED LEO (LEO)

Bitcoin                                 
Bitcoin has once again slipped below the $30,000 level – Photo: Getty Images
                                

The price of bitcoin (BTC) ended yesterday at $31,349 after rising by 4.86% during the day, according to Currency.com. However, the price of the lead crypto was trading at $29,505 earlier today.

The trading volume of BTC had increased by 26.45% over the past 24 hours. Meanwhile, eight out of the top 10 cryptos are down today according to CoinMarketCap, with BTC down by 6.02%.

Ethereum (ETH) was down by 8.05% to $1,751, binance coin (BNB) was down by 10.09% to $276, cardano (ADA) was down by 6.59% to $0.58 and solana (SOL) was down by 13.31% to $38.    

The two stablecoins in the top 10 cryptos are both up today. Tether (USDT) was up by 0.01% but has still fallen below the $1 mark to $0.99. USD Coin (USDC) was up by 0.01% to $1.

Ripple (XRP) was down by 3.84% to $0.38 and dogecoin (DOGE) was down by 5.06% to $0.07.

Biggest risers out of the top 100 cryptos

The biggest riser of the day out of the top 100 cryptos was UNUS SED LEO (LEO), which increased by 3.69% to $5.21. “LEO is a utility token that’s used across the iFinex ecosystem. The unusual name is based on a Latin citation from one of Aesop’s fables,” states CoinMarketCap.

The second biggest riser out of the top 100 was gala (GALA), which was up by 1.39% to $0.080. According to CoinMarketCap, gala “aims to take the gaming industry in a different direction by giving players back control over their games”.

The third biggest top 100 riser was binance USD (BUSD), up by 0.11% to $1. CoinMarketCap says BUSD is a “1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), approved and regulated by the New York State Department of Financial Services (NYDFS)”.

Biggest fallers out of the top 100 cryptos

Solana was the biggest faller of the day out of the top 100 cryptos, dropping by 13.31% to $37.78. Solana “is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions” states CoinMarketCap.  

The second biggest faller out of the top 100 was waves (WAVES), having decreased by 13% to $7.49. According to CoinMarketCap waves is a “multi-purpose blockchain platform which supports various use cases including decentralised applications (DApps) and smart contracts”.

The third biggest faller out of the top 100 was avalanche (AVAX), having dropped by 12.71% to $23.64. CoinMarketCap describes AVAX as a “hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche”.

Overall biggest crypto risers

Out of the more than 10,000 cryptos listed on CoinMarketCap, CV SHOTS (CVSHOT) was the overall biggest riser of the day, up by 242.45% to $40.79. According to CoinMarketCap CV SHOTS “was created to help job seekers and businesses network in meaningful ways and has evolved into a major online job marketplace that links millions of job seekers with businesses of all kinds”.

The second biggest riser of all cryptos was sportoken (SPT), which increased by 183.74% to $0.00003243. The best crypto exchange for trading SPT is PancakeSwap, states CoinMarketCap.

The third overall biggest riser was siacashcoin (SCC), up by 165.74% to $0.00004648. CoinMarketCap says SCC “is a cryptocurrency and operates on the Ethereum platform and has a current supply of 25,000,000,000”.

Overall biggest crypto fallers

Meta Basket VR (MBALL) was the biggest faller of the day out of all cryptos listed on CoinMarketCap falling by 86.33% to $0.0009691. Meta Basket VR “provides a unique play to earn (P2E) opportunity by creating a VR-AR based basketball game” states CoinMarketCap.

The second biggest faller out of all cryptos was bee inu (BEEINU), which has dropped by 74.54% to $0.00002997. BEEINU, states CoinMarketCap “is a coding education site for everyone. It contains tools that make programming love and easy especially for children where users earn BEE INU Tokens as rewards for every quiz and comment they make.”

The third biggest faller overall today was revolotto (RVL), which was down by 67.50% to $0.04253. CoinMarketCap says RVL “is a cryptocurrency that grants investors holding (RVL) instant rewards on all transactions and protects them with its unique coin circulation cycles and burn protocol”.

All prices correct as of 14:50 BST (UTC +1) on Tuesday 7 June.

Further reading

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