Crypto market update: BTC drops to $41,000

Bitcoin has fallen along with 94 other cryptos out of the top 100 on CoinMarketCap

Bitcoin symbol                                 
Many cryptos also fell with bitcoin – Photo: Shutterstock
                                

The price of bitcoin (BTC) ended yesterday on $42,170 after falling 2.33% on the day, according to Currency.com. The lead cryptocurrency price is now $41,730.

The volume of BTC was down by 2.40% over the past 24 hours. All top 10 cryptos were down today on CoinMarketCap, with BTC down by 4.60%.

Ethereum (ETH) fell by 5.75% and was back under the $3,000 threshold to $2,919. The stablecoin tether (USDT) was down by 0.06% but is still valued at $1, and cardano (ADA) was down by 4.32% to $2.14.

Binance Coin (BNB) was down by 3.83% to $337, ripple (XRP) was down 3.82% to $0.92 and dogecoin (DOGE) was down by 2.80% to $0.20.

Biggest risers and fallers

The biggest riser of the day was eCash (XEC), which was up by 8.47% to $0.0002554. According to CoinMarketCap, XEC was “built by an experienced team of bitcoin developers who founded Bitcoin Cash. eCash is a fork of bitcoin with a more aggressive technical roadmap.”

The second-biggest riser of the day was Fantom (FTM), up by 5.23% to $1.26. CoinMarketCap stated that FTM “is a directed acyclic graph (DAG) smart contract platform providing decentralised finance (DeFi) services to developers using its own bespoke consensus algorithm”.

The third-biggest riser of the day was OMG Network (OMG), which rose 4.62% to $9.63. OMG, as described by CoinMarketCap, “is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain”.

Perpetual Protocol (PERP) was the biggest faller of the day, dropping by 20.26% to $14.97. “PERP is the first virtual automated market maker (AMM), which enables markets with no makers while still guaranteeing on-chain liquidity,” according to CoinMarketCap.

The second-biggest faller of the day was SushiSwap (SUSHI), which dropped by 10.35% to $10.08. CoinMarketCap said SUSHI was “launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralised finance (DeFi) movement and associated trading boom in DeFi tokens”.

The third biggest drop of the day was Hedera Hashgraph (HBAR), which fell by 9.91% to $0.31. “HBAR is billed as the ‘trust layer of the internet’, Hedera Hashgraph is a public network that allows individuals and businesses to create powerful decentralised applications (DApps),” said CoinMarketCap.  

All prices were correct today (Tuesday 28 September) as of 10.03 BST (UTC +1).

Further reading: Crypto market shrugs off latest China crackdown

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