The cryptocurrency market showed weakness in early Asian trading on Monday. Leading cryptocurrency Bitcoin saw its price fall as optimism over exchange-traded funds (ETFs) tracking Bitcoin faded.
The Crypto Fear and Greed Index hit a three-month low and fell back to “neutral” for the first time since October last year. This suggests that investors have become more cautious since the launch of US-listed spot Bitcoin products.
Earlier this month, OG cryptocurrency Bitcoin rose to nearly $49,000, its highest level in nearly two years, in anticipation of spot Bitcoin ETF approval in the US. However, Bitcoin (BTC) prices have since declined and stood at $42,578 at press time, down 0.06% in the last 24 hours. Bitcoin's market capitalization fell to $834.4 billion while trading volume increased nearly 10% to $19.3 billion in the last 24 hours.
Ethereum – the second largest cryptocurrency by market capitalization – also saw a 1.5% price decline in the last 24 hours, changing hands at $2,510 at the time of writing. While Ether's market cap fell to $301.7 billion, trading volume plunged over 7% to $10.1 billion in the last 24 hours.
While Tether (USDT) prices remained unchanged, BNB prices increased by over 3.6% to $313.11, while XRP prices were at $0.58, up almost 4% in the last corresponds to 24 hours. Meanwhile, the price of Solana (SOL) fell by 0.8% and the price of Cardano (ADA) fell by over 1%.
Both Avalance (AVAX) and Dogecoin were trading in the green at press time, while Shiba Inu (SHIB) saw a price drop of almost 0.9% in the last 24 hours. The global crypto market fell 0.12% to $1.68 trillion.
Top 3 cryptos for today
Pepe price falls 0.03%
The frog-themed memecoin Pepe fell marginally to $0.000001226, down 0.03% in the last 24 hours. Pepe's market cap fell to $515 million while trading volume fell over 20% to $61 million.
Pepe price chart
SUI price rises 13%
The Sui blockchain network’s native token SUI is up over 13% in the last 24 hours. At press time, SUI was priced at $1.42 while its market cap rose to $1.55 billion. However, trading volume has fallen by 30% in the last 24 hours, indicating waning retail interest in the digital asset.
SUI price chart
Optimism (OP) price drop of 7%
The Optimism (OP) token fell 7% to $3.54 in the last seven hours, with its market cap falling to $1.4 billion. Meanwhile, trading volume increased 24% to $266.1 million in the last 24 hours.
Optimism (OP) price chart; All image credits: CoinMarketCap
Also Read: Bitfinex Exchange Thwarts $15 Billion Attack on XRP Tokens on the Platform
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