Crypto market update: BTC falls to $29,000

The biggest riser of the day out of the top 100 cryptos was TRON (TRX)

Bitcoin in front of a stock market graph                                 
Bitcoin was struggling to climb above the $30,000 level today – Photo: Alamy
                                

The price of bitcoin (BTC) ended yesterday at $29,080 after dropping by 3.91% during the day, according to Currency.com. The price of the lead crypto was trading at $29,311 earlier today.  

The trading volume of BTC had increased by 27.11% over the past 24 hours. Meanwhile, nine out of the top 10 cryptos were down today according to CoinMarketCap, with BTC down by 3.72%.

Ethereum (ETH) was down by 4.85% to $1,967, binance coin (BNB) was down by 2.57% to $323, cardano (ADA) was down by 6.48% to $0.50 and solana (SOL) was down by 8.65% to $49.

The two stablecoins in the top 10 cryptos are both down today. Tether (USDT) was down by 0.02% and has fallen below the $1 mark to $0.99. USD Coin (USDC) was down by 0.01% but remains priced at $1.

Ripple (XRP) was down by 4.45% to $0.40 and dogecoin (DOGE) was down by 4.45% to $0.08.

Biggest risers out of the top 100 cryptos

The biggest riser of the day out of the top 100 cryptos was TRON (TRX), up 4.93% to $0.08. CoinMarketCap describes TRX as “a decentralised blockchain-based operating system developed by the Tron Foundation and launched in 2017”.

The second biggest riser out of the top 100 was tezos (XTZ), which increased by 3.70% to $2.08. XTZ “is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum”, states CoinMarketCap.

The third biggest top 100 riser was stacks (STX), up by 1.81% to $0.57. CoinMarketCap says STX “is a layer-one blockchain solution that is designed to bring smart contracts and decentralised applications (DApps) to bitcoin”.

Biggest fallers out of the top 100 cryptos

Waves (WAVES) was the biggest faller of the day out of the top 100 cryptos, dropping by 16.27% to $5.61. WAVES “is a multi-purpose blockchain platform which supports various use cases including DApps and smart contracts”, states CoinMarketCap.

The second biggest faller out of the top 100 is fantom (FTM) having decreased by 15.41% to $0.42. According to CoinMarketCap, 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 faller out of the top 100 is arweave (AR), having dropped by 11.64% to $14.39. CoinMarketCap states arweave “is a decentralised storage network that seeks to offer a platform for the indefinite storage of data”.

Overall biggest crypto risers

Out of the more than 10,000 cryptos listed on CoinMarketCap, PAPPAY (PAPPAY) was the overall biggest riser of the day, up by 329.22% to $0.000001132. According to CoinMarketCap, PAPPAY “is a cryptocurrency that can be used for digital purchases and payments on the internet – as well as a payment tool that provides you with passive income”.

The second biggest riser of all cryptos was kujira (KUJI) and rose by 257.39% to $0.02. Kujira is “committed to levelling the playing field in DeFi by building DApps for regular crypto users”, states CoinMarketCap.

The third overall biggest riser was zoocoin (ZOO), which increased by 240.65% to $0.004. CoinMarketCap states zoocoin “is an ecosystem of decentralised applications powered by [the] Fantom network”.

Overall biggest crypto fallers

Pixel Swap (PIXEL) was the biggest faller of the day out of all cryptos listed on CoinMarketCap and it fell by 93.76% to $0.0046. CoinMarketCap states PIXEL “aims to bring together all networks and non-fungible token (NFTs) under one roof, to ensure trades are safe and successful across all networks chains”.

The second biggest faller out of all cryptos was LESLAR Metaverse ($LESLAR), which had dropped by 88.58% to $0.0000001603. $LESLAR “is a cyber future themed digital world. Where every person in the metaverse can meet, communicate, play, work, and even compete virtually”, states CoinMarketCap.

The third biggest faller today is sweet SOL (SSOL) which was down by 70.36% to $0.0000001813. CoinMarketCap says SSOL “is a multilayer hyper-deflationary token that allows passive income automatically sent to your wallet by simply holding through our mindless mining protocol”.

All prices correct as of 14:45 BST (UTC +1) on Tuesday 24 May.

Further reading

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