Bitcoin’s massive crash on Friday drove it south to just under $22,000 to mark its lowest price tag since February 14.
The altcoins experienced similar enhanced volatility, but most have calmed since then. Ripple’s XRP and EOS are among the few alts with notable gains.
Bitcoin Slipped Below $22K
Despite the rising volatility at the end of February, bitcoin managed to close the month with a slight increase and stood at around $23,000. The first few days of March saw a price push towards $24,000, but that was stopped in its tracks.
As such, BTC retraced to $23,500 by Friday when the whole landscape changed. In just a matter of minutes, the cryptocurrency plummeted by over $1,500 and slumped to and under $22,000. While the community continues to speculate on the potential reasons, the fact is that this was the asset’s lowest price point since Valentine’s Day.
Bitcoin has reclaimed some ground since then and trades at over $22,000. Nevertheless, its market capitalization struggles at $430 billion after reaching $460 billion recently. Its dominance over the alts has also declined slightly to 42%.
EOS Sees 7% Surge
The alternative coins dumped just as hard as bitcoin yesterday, if not worse. Ethereum stood north of $1,650 earlier this week but has lost about $100 since then. The past 24 hours have been calm for the second-largest cryptocurrency.
Binance Coin is also below a round-numbered milestone, trading beneath $300. On a daily scale, most of the larger caps are a bit stagnant, with XRP standing out as the most impressive gainer. It’s up by 3% and trades close to $0.4.
OKB, Cardano, Dogecoin, Polygon, Solana, Polkadot, Shiba Inu, Litecoin, and TRON are with either minor gains or insignificant losses.
Lido DAO’s native token has dumped the most, registering a 10% daily decline. In contrast, EOS has added the most value, surging by 7.3% and trading at $1.3.
The crypto market cap has managed to maintain the $1 trillion mark, despite losing $60 billion in the past few days.
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