Digital currency markets have been bearish in recent days as prices have continued to sink lower. The entire market capitalization of all the crypto assets in existence is down over 8% on Sunday at $1.25 trillion. Bitcoin has plummeted from its all-time high (ATH) of $58,350 last Sunday to today’s low of $43,189 per unit.
- Bitcoin (BTC) prices have dropped -25.98% since last Sunday and today the crypto asset has touched a new low. At 10:48 in the morning, New York time, BTC prices touched a low of $43,189 per coin. BTC is down over 7% today but is still up 28% during the last 30 days and 122% for the last three months.
- BTC dominance or the market valuation in comparison to the rest of the crypto economy’s valuations is around 61.23% today.
- The second-largest crypto asset by market valuation is ethereum (ETH) which is swapping for $1,318 per coin on Sunday. ETH prices have dipped over 10% today and lost 31% during the last week.
- Cardano (ADA) currently commands the third-largest market cap, and each ADA is exchanging hands for $1.20 per unit. ADA has been a coin that has notably outperformed other crypto assets during the last two days while most markets have been down. ADA is down 12% today but seven-day stats show cardano is up over 10%.
- Cardano (ADA) is expected to upgrade on March 1, 2021, which introduces native token functionality to the Cardano network.
- Meanwhile, tether (USDT) now holds the fourth position and behind it is binance coin (BNB) trading for $197 per coin. The Binance-created token is down 11% on Sunday and 31% for the last week. Behind BNB is polkadot (DOT) trading for a touch over $30 per DOT.
- XRP has been pushed down to the seventh position and is down 10% today. Each XRP is trading for $0.39 per unit. Litecoin (LTC) is swapping for $155 a coin and is down a touch over 9% this weekend.
- The stablecoin USDC that’s managed by the crypto firm Circle has made it into the top ten crypto market cap positions. Currently, USDC is the eighth largest market valuation with $8.97 billion worth in circulation.
- Lastly, stellar (XLM) holds the tenth top position amongst the 8,000+ crypto tokens in existence. A single XLM is currently trading for $0.39 per unit and interestingly, is roughly the same value as XRP, as the Stellar network blockchain was designed in a similar fashion.
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What do you think about all the market action on Sunday, February 28? Let us know what you think about this subject in the comments section below.
source https://news.bitcoin.com/bearish-outlook-as-seven-day-bitcoin-prices-sink-25-ada-shines-during-the-storm/
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