Today’s crypto movers: Bitcoin (↓3.57%), Ethereum (↓5.57%), Decentraland (↓8.04%) and Bitcoin Cash (↑2.52%).

The crypto market traded lower as Bitcoin retreated below $23,000.

Bitcoin returned below $23,000 and is now trading around $21,000, dragging most altcoins lower.

Across the crypto market, prices changed by -3.69% in the last 24 hours, which is a bigger movement compared to the previous days.

Trading volume over the past 24 hours has been 4% higher than the average over the past 7 days, meaning some market participants have been buying during the recent pullback.

The two largest coins: Bitcoin and Ethereum

Bitcoin is the largest coin by market cap and its price has changed by -3.57% in the last 24 hours.

Bitcoin is back at $21,000 which is now the price support level of the new trading range. Despite this, Bitcoin is still under strong downward pressure.

The second most valuable cryptocurrency, Ethereum, saw a price change of -5.57%. Ethereum’s market cap is 36.49% of the total value of Bitcoin.

Ether still holds above $1,500. Unless something drastic happens, we could see Ether attempting to reclaim $1,700 next.

Today’s biggest winners and losers

Bitcoin Cash (BCH) saw big gains by 2.52%; Synthetix (SNX), up 0.69%; and PancakeSwap (CAKE), up 0.51%. (All numbers are based on the last 24 hours of trading at the time of writing.)

Bitcoin Cash (BCH) was forked from Bitcoin in 2017. It aims to be faster and cheaper than Bitcoin while meeting similar requirements. Its BCH token facilitates payments and smart contracts.

Synthetix (SNX) is a decentralized finance (DeFi) protocol that provides on-chain exposure to various crypto and non-crypto assets. Its “synthesizers” track and deliver asset returns without requiring users to hold the underlying asset. The price increase continues the upward trend of the last week. Synthetix’s partnership with Jump Crypto helped sustain this rally.

PancakeSwap (CAKE) is an Automated Market Maker (AMM) for token trading and yield farming for rewards. Users farm, participate and participate in governance with their CAKE token.

The largest declines were in Decentraland (MANA), down 8.04%; Flow (FLOW), which fell 7.54%; and Axie Infinity (AXS), down 7.37%.

Decentraland (MANA) is a virtual reality platform powered by the Ethereum blockchain. It allows users to create, experience and monetize content and applications. With its MANA tokens, users get LAND tokens and buy assets on the Decentraland marketplace.

Flow (FLOW) is a Layer 1 (L1) blockchain developed by the team behind CryptoKitties, Dapper Wallet and NBA Top Shot. It uses its FLOW token for payments, network reserves, participation, fees and governance.

Axie Infinity (AXS) is the governance token of a blockchain-based trading and fighting game.

Are you trying to get a handle on the markets? Cut through the noise with our rundown of the best cryptos to buy right now, explore some crypto trading strategies, or see if there’s a better platform for you with our guide to the best crypto exchanges are.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risk – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances and get your own advice before relying on this information. You should also verify the nature of the products or services (including their legal status and relevant regulatory requirements) and consult the websites of the relevant regulators before making a decision. The finder or the author may have interests in the cryptocurrencies discussed.

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