The crypto market has continued to decline over the past 24 hours. At the time of writing this seems to be finally coming to an end. In any case, we see a slight recovery starting, but the FOMC minutes could cause more volatility tonight. The total market value of crypto is down 3% to $1.14 trillion
📈 Market Overview#BTC price trades below $25K
The Top-10 are traded in red zone: $OKB -7.9%, $MATIC -7.4%, $ADA -4.2%.
Market cap: $1.16T (-2.93%) $BTC dominance: 39.98% (-0.54%)
Fear & Greed Index: 60 (Greed)Full Report👉https://t.co/EudSTezEZv pic.twitter.com/qqKP6nvwt3
— CryptoRank Platform (@CryptoRank_io) February 22, 2023
Bitcoin briefly below $24,000
The drop in the market started after bitcoin (BTC) was rejected again at $25,000 yesterday morning. Putin may have injected a new dose of fear yesterday that accelerated the decline. Bitcoin dipped below $24,000 this morning, but is rising above it at the time of writing. Still, the BTC price is down 2.8% today.
🐳 It appears that #USDCoin has played a key role in #crypto‘s fluctuations, particularly since the #FTXbankruptcy in early November. The amount of addresses holding 100K-100M $USDC by 2,001 (-7.8%) in just the past 2 months as money shifted back to $BTC. https://t.co/d8S7lkohNZ pic.twitter.com/4aumdwdzAS
— Santiment (@santimentfeed) February 21, 2023
Ethereum follows Bitcoin down
Ethereum (ETH) fell almost as hard over the past 24 hours, topping out at around $1,625. The ether is currently recovering to $1,640, but is still down 2.5% today.
what a week!
99.7% of blocks above the 🦇🔊🚧 pic.twitter.com/r21D0uVEqf
— ultra sound money 🦇🔊 (@ultrasoundmoney) February 21, 2023
Polygon hardest descender crypto top 10
It is striking that ripple (XRP) has recently been the least volatile price from the top 10 and today the price is holding up the strongest. XRP is nevertheless down 0.7% to USD 0.389. Binance coin (BNB) is already 2% down and is around $307.4.
Cardano (ADA) is losing 2.8% of its value, dipped briefly below $0.38 and is now trading around $0.386. Okb (OKB) is already down 4.6% and it is dropping back below $50. However, Polygon (MATIC) is the biggest loser out of the top 10, falling 5.8% to $1.35. This may be due to the round of layoffs below.
Polygon has grown exponentially.
To continue on this path of stupendous growth we have crystallized our strategy for the next 5 yrs to drive mass adoption of web3 by scaling Ethereum.
Our treasury remains healthy with a balance of over $250 million and over 1.9 billion MATIC
— Sandeep | Polygon 💜 Top 3 by impact (@sandeepnailwal) February 21, 2023
Crypto top 100 hardest fallers today
Just outside the top 10, we see dogecoin (DOGE) suddenly make a huge jump, bringing the price back to the same price as 24 hours ago: $0.0865. Solana (SOL), on the other hand, is down a whopping 6.4% today at $23.6.
Then we have a large number of harder descenders in the top 100. Ecash (XEC), frax share (FXS), arweave (AR), immutablex (IMX) and gmx (GMX) are all about 7% down. Synthetix (SNX), wemix (WEMIX), mina (MINA) , flow (FLOW) and phantom (FTM) are already down about 8%.
Bitget token (BGB) is down 9% today and conflux (CFX) is already down 10%. The CFX price is nevertheless still more than 400% in the plus this week. The graph (GRT) and huobi token (HT) are the biggest losers of the day, both falling 11%.
Filecoin hardest climber crypto top 100
Yet we still have some exceptions today. Zilliqa (ZIL), klaytn (KLAY) and tezos (XTZ) are still up about 3%. Basic attention token (BAT) has been rising since midnight and is up 5%.
Filecoin (FIL) is today by far the fastest riser from the top 100. The FIL price rose above $ 9 early this morning and with a price of $ 8.5 is still well over 8% in the plus today.
Did you hear? The #Filecoin EVM (FEVM) launch is closer than you think 😉
After the completion of the calibrationnet upgrade earlier today, FEVM is on track to bring smart contracts & user programmability to Filecoin mainnet on March 14th, 2023! 📅
👉 https://t.co/CMjBDN5Idz pic.twitter.com/AdoblUk19R
— Filecoin (@Filecoin) February 22, 2023
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