Cryptocurrency Market Update: Prices Fluctuate Amidst Volatile Trading (2024)

It has been another day of intense trading in the cryptocurrency markets, with millions of dollars being exchanged in the blink of an eye. Here are the top twenty most traded cryptocurrencies of the day, along with their current prices and market capitalizations.

Bitcoin (BTC)

Bitcoin, the original cryptocurrency, continues to dominate the market, with a current price of $45,000 and a market capitalization of $850 billion.

Ethereum (ETH)

Ethereum, the blockchain platform that enables smart contracts and decentralized applications, is the second most traded cryptocurrency of the day, with a current price of $3,200 and a market capitalization of $370 billion.

Binance Coin (BNB)

Binance Coin, the native cryptocurrency of the Binance exchange, has seen a surge in trading activity today, with a current price of $480 and a market capitalization of $80 billion.

Ripple (XRP)

Ripple, the digital payment protocol and cryptocurrency, continues to be a popular choice for traders, with a current price of $1.20 and a market capitalization of $55 billion.

Dogecoin (DOGE)

Dogecoin, the cryptocurrency that started as a joke but has since gained a huge following, is also among the top most traded cryptocurrencies of the day, with a current price of $0.30 and a market capitalization of $40 billion.

Cardano (ADA)

Cardano, the blockchain platform that aims to provide a more secure and scalable infrastructure for the development of decentralized applications and smart contracts, is also seeing a high level of trading activity today, with a current price of $2.50 and a market capitalization of $60 billion.

Polkadot (DOT)

Polkadot, the blockchain platform that enables different blockchains to transfer messages and value in a trust-free fashion, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $35 billion.

Bitcoin Cash (BCH)

Bitcoin Cash, the cryptocurrency that forked from Bitcoin in 2017 in order to increase the block size and offer faster transactions, is seeing a surge in trading activity today, with a current price of $800 and a market capitalization of $15 billion.

Chainlink (LINK)

Chainlink, the blockchain platform that enables smart contracts to securely connect to external data sources, is also among the top most traded cryptocurrencies of the day, with a current price of $35 and a market capitalization of $20 billion.

Litecoin (LTC)

Litecoin, the cryptocurrency that was created as the “silver to Bitcoin’s gold,” is also seeing a high level of trading activity today, with a current price of $200 and a market capitalization of $15 billion.

Uniswap (UNI)

Uniswap, the decentralized trading protocol that enables users to trade without the need for a centralized exchange, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $10 billion.

Stellar (XLM)

Stellar, the open network that allows money to be moved and stored, is also seeing a surge in trading activity today, with a current price of $0.80 and a market capitalization of $15 billion.

VeChain (VET)

VeChain, the blockchain platform that is designed to enhance supply chain management and business processes, is also among the top most traded cryptocurrencies of the day, with a current price of $0.20 and a market capitalization of $10 billion.

Ethereum Classic (ETC)

Ethereum Classic, the original Ethereum blockchain, is also seeing a high level of trading activity today, with a current price of $80 and a market capitalization of $5 billion.

Filecoin (FIL)

Filecoin, the decentralized storage network, is also among the top most traded cryptocurrencies of the day, with a current price of $90 and a market capitalization of $10 billion.

Theta (THETA)

Theta, the blockchain platform that enables users to watch videos and earn rewards, is also seeing a surge in trading activity today, with a current price of $10 and a market capitalization of $10 billion.

Tezos (XTZ)

Tezos, the blockchain platform that allows for formal verification of smart contracts and modifiable public blockchains, is also among the top most traded cryptocurrencies of the day, with a current price of $8 and a market capitalization of $7 billion.

Aave (AAVE)

Aave, the decentralized finance platform that allows users to lend and borrow cryptocurrencies, is also seeing a high level of trading activity today, with a current price of $300 and a market capitalization of $5 billion.

Solana (SOL)

Solana, the blockchain platform that enables fast and secure decentralized applications and crypto lending, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $15 billion.

Monero (XMR)

Monero, the cryptocurrency that focuses on privacy, decentralization, and scalability, is also seeing a surge in trading activity today, with a current price of $300 and a market capitalization of $5 billion.

Most Traded Cryptocurrencies of the Day

Other cryptocurrencies that were among the most traded of the day include Tether, EOS, Tron, Bitcoin SV, and more.

The Top 50 Trending Cryptocurrencies of the Day

Here are the top 50 trending cryptocurrencies of the day:

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Binance Coin (BNB)
  4. Ripple (XRP)
  5. Dogecoin (DOGE)
  6. Cardano (ADA)
  7. Polkadot (DOT)
  8. Bitcoin Cash (BCH)
  9. Chainlink (LINK)
  10. Litecoin (LTC)
  11. Uniswap (UNI)
  12. Stellar (XLM)
  13. VeChain (VET)
  14. Ethereum Classic (ETC)
  15. Filecoin (FIL)
  16. Theta (THETA)
  17. Tezos (XTZ)
  18. Aave (AAVE)
  19. Solana (SOL)
  20. Monero (XMR)
  21. Tether (USDT)
  22. EOS (EOS)
  23. Tron (TRX)
  24. Bitcoin SV (BSV)

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Cryptocurrency Market Update: Prices Fluctuate Amidst Volatile Trading (2024)

FAQs

How do cryptocurrency prices fluctuate? ›

Bitcoin's price changes because of its supply, the market's demand, media and news, and regulatory changes. Some research suggests that the cost of producing a bitcoin also influences its prices, but most reports used assumed data rather than facts.

Is crypto really volatile? ›

As a newer asset class, crypto is widely considered to be volatile — with the potential for significant upward and downward movements over shorter time periods.

What time is most volatile to trade crypto? ›

According to data from on-chain data provider Skew, 3 - 4 PM UTC is when cryptocurrency trading is most intense.

What are the potential problems that may occur as a result of the volatility in cryptocurrencies? ›

Large fluctuations in the price of many cryptocurrencies mean that their purchasing power is not maintained over time, reducing their effectiveness as a store of value.

How often does crypto fluctuate? ›

Bitcoin prices change every single second as it is influenced by supply and demand, investor and user sentiment, government regulations, etc. The price usually moves with a minimal margin when the markets trade sideways and triggers massive price action in case of major events knocking on the crypto space.

What are the most volatile cryptocurrencies? ›

The most volatile tokens around
CoinRankVolatility 1M
SOFI74050.63%
OOMNI25448.60%
OBSR69047.22%
PEEL76942.01%
48 more rows

What is the safest crypto to invest in? ›

Here are six of the best cryptocurrencies to buy now:
  • Bitcoin (BTC)
  • Ether (ETH)
  • Solana (SOL)
  • Avalanche (AVAX)
  • Polygon (MATIC)
  • Cardano (ADA)
Apr 2, 2024

Can you lose more than you invest in crypto? ›

For instance, if you took a loan to invest in crypto, or if you're investing in any form of complex derivative instrument associated to crypto, instead of just the cryptocoin itself. You may end up with losses on the investment, plus an additional debt.

Who controls the value of cryptocurrency? ›

Like all forms of currency, Bitcoin is given value by its users, supply, and demand. As long as it maintains the attributes associated with money and there is demand for it, it will remain a means of exchange, a store of value, and another way for investors to speculate, regardless of its monetary value.

What time of day is crypto lowest? ›

Prices are lower when the market is less busy. Although you can trade cryptocurrencies at any time of day, the market is more active during typical work hours and less active early in the morning, at night, and on the weekends. Generally, cryptocurrency prices start low on Monday and rise throughout the week.

What days are best to trade volatility? ›

All in all, Tuesday, Wednesday and Thursday are the best days for Forex trading due to higher volatility. During the middle of the week, the currency market sees the most trading action. As for the rest of the week, Mondays are static, and Fridays can be unpredictable.

What time is cryptocurrency most active? ›

It has been suggested that the best time to trade cryptocurrencies is from 8am to 4pm. This is the time when the most volatility occurs, particularly in American markets, so there is the most potential to make money at this point.

Which US state is crypto-friendly? ›

Texas. Texas is considered one of the most crypto-friendly states in the country. In 2021, the Texas Department of Bank allowed state-chartered banks to offer cryptocurrency custody services. In addition to cheap electricity for miners, Texas has enacted friendly policies for miners.

Do you pay taxes on crypto if you don't sell? ›

There is no tax for simply holding crypto for US taxpayers. You will only report and pay taxes on crypto you've earned or which you purchased and later sold or exchanged for other crypto.

Which crypto exchanges do not report to the IRS? ›

Some cryptocurrency exchanges do not report user transactions to the IRS, including: Decentralized crypto exchanges (DEXs) like Uniswap and SushiSwap. Some peer-to-peer (P2P) platforms. Exchanges based outside the US that do not have a reporting obligation under US tax law.

Why do all crypto go up at the same time? ›

Cryptocurrencies are heavily influenced by general market sentiment. Studies have shown that investors are more likely to turn towards crypto during uncertain times. This means that news headlines can impact the entire cryptocurrency market!

What's causing crypto to rise? ›

A major factor in bitcoin's rise since the start of the year has been the approval by the US financial regulator in January of exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.

Where does crypto get its value? ›

Bitcoin's price is primarily driven by supply, demand, fear, and greed. Some people argue that its price is correlated to its cost of production, its utility as a store of value, or its intrinsic value—but if these were true, it would not be as volatile and reactive as it is.

What is cryptocurrency backed by? ›

Key Takeaways

Backing a currency is done by the currency's issuer to ensure its value. Bitcoin, gold, and fiat currencies are not backed by any other asset. Bitcoin has value despite no backing because it has properties of sound money.

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