Cryptocurrency Market Update: Prices Fluctuate Amidst Volatile Trading (2024)

It has been another day of intense trading in the cryptocurrency markets, with millions of dollars being exchanged in the blink of an eye. Here are the top twenty most traded cryptocurrencies of the day, along with their current prices and market capitalizations.

Bitcoin (BTC)

Bitcoin, the original cryptocurrency, continues to dominate the market, with a current price of $45,000 and a market capitalization of $850 billion.

Ethereum (ETH)

Ethereum, the blockchain platform that enables smart contracts and decentralized applications, is the second most traded cryptocurrency of the day, with a current price of $3,200 and a market capitalization of $370 billion.

Binance Coin (BNB)

Binance Coin, the native cryptocurrency of the Binance exchange, has seen a surge in trading activity today, with a current price of $480 and a market capitalization of $80 billion.

Ripple (XRP)

Ripple, the digital payment protocol and cryptocurrency, continues to be a popular choice for traders, with a current price of $1.20 and a market capitalization of $55 billion.

Dogecoin (DOGE)

Dogecoin, the cryptocurrency that started as a joke but has since gained a huge following, is also among the top most traded cryptocurrencies of the day, with a current price of $0.30 and a market capitalization of $40 billion.

Cardano (ADA)

Cardano, the blockchain platform that aims to provide a more secure and scalable infrastructure for the development of decentralized applications and smart contracts, is also seeing a high level of trading activity today, with a current price of $2.50 and a market capitalization of $60 billion.

Polkadot (DOT)

Polkadot, the blockchain platform that enables different blockchains to transfer messages and value in a trust-free fashion, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $35 billion.

Bitcoin Cash (BCH)

Bitcoin Cash, the cryptocurrency that forked from Bitcoin in 2017 in order to increase the block size and offer faster transactions, is seeing a surge in trading activity today, with a current price of $800 and a market capitalization of $15 billion.

Chainlink (LINK)

Chainlink, the blockchain platform that enables smart contracts to securely connect to external data sources, is also among the top most traded cryptocurrencies of the day, with a current price of $35 and a market capitalization of $20 billion.

Litecoin (LTC)

Litecoin, the cryptocurrency that was created as the “silver to Bitcoin’s gold,” is also seeing a high level of trading activity today, with a current price of $200 and a market capitalization of $15 billion.

Uniswap (UNI)

Uniswap, the decentralized trading protocol that enables users to trade without the need for a centralized exchange, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $10 billion.

Stellar (XLM)

Stellar, the open network that allows money to be moved and stored, is also seeing a surge in trading activity today, with a current price of $0.80 and a market capitalization of $15 billion.

VeChain (VET)

VeChain, the blockchain platform that is designed to enhance supply chain management and business processes, is also among the top most traded cryptocurrencies of the day, with a current price of $0.20 and a market capitalization of $10 billion.

Ethereum Classic (ETC)

Ethereum Classic, the original Ethereum blockchain, is also seeing a high level of trading activity today, with a current price of $80 and a market capitalization of $5 billion.

Filecoin (FIL)

Filecoin, the decentralized storage network, is also among the top most traded cryptocurrencies of the day, with a current price of $90 and a market capitalization of $10 billion.

Theta (THETA)

Theta, the blockchain platform that enables users to watch videos and earn rewards, is also seeing a surge in trading activity today, with a current price of $10 and a market capitalization of $10 billion.

Tezos (XTZ)

Tezos, the blockchain platform that allows for formal verification of smart contracts and modifiable public blockchains, is also among the top most traded cryptocurrencies of the day, with a current price of $8 and a market capitalization of $7 billion.

Aave (AAVE)

Aave, the decentralized finance platform that allows users to lend and borrow cryptocurrencies, is also seeing a high level of trading activity today, with a current price of $300 and a market capitalization of $5 billion.

Solana (SOL)

Solana, the blockchain platform that enables fast and secure decentralized applications and crypto lending, is also among the top most traded cryptocurrencies of the day, with a current price of $40 and a market capitalization of $15 billion.

Monero (XMR)

Monero, the cryptocurrency that focuses on privacy, decentralization, and scalability, is also seeing a surge in trading activity today, with a current price of $300 and a market capitalization of $5 billion.

Most Traded Cryptocurrencies of the Day

Other cryptocurrencies that were among the most traded of the day include Tether, EOS, Tron, Bitcoin SV, and more.

The Top 50 Trending Cryptocurrencies of the Day

Here are the top 50 trending cryptocurrencies of the day:

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Binance Coin (BNB)
  4. Ripple (XRP)
  5. Dogecoin (DOGE)
  6. Cardano (ADA)
  7. Polkadot (DOT)
  8. Bitcoin Cash (BCH)
  9. Chainlink (LINK)
  10. Litecoin (LTC)
  11. Uniswap (UNI)
  12. Stellar (XLM)
  13. VeChain (VET)
  14. Ethereum Classic (ETC)
  15. Filecoin (FIL)
  16. Theta (THETA)
  17. Tezos (XTZ)
  18. Aave (AAVE)
  19. Solana (SOL)
  20. Monero (XMR)
  21. Tether (USDT)
  22. EOS (EOS)
  23. Tron (TRX)
  24. Bitcoin SV (BSV)

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Cryptocurrency Market Update: Prices Fluctuate Amidst Volatile Trading (2024)

FAQs

How does volatility affect cryptocurrency? ›

Generally, the more volatile an asset is, the riskier it's considered to be as an investment — and the more potential it has to offer either higher returns or higher losses over shorter periods of time than comparatively less volatile assets.

What causes crypto price fluctuations? ›

Bitcoin's price is primarily affected by its supply, the market's demand, availability, competing cryptocurrencies, and investor sentiment. Bitcoin supply is limited—there is a finite number of bitcoins, and the final coins are projected to be mined in 2140.

Why is the crypto market so volatile today? ›

Bitcoin prices are volatile for many of the same reasons other investments are—supply and demand and how investors react to hype, news, and regulatory actions. The main difference between bitcoin and other investment prices is the magnitude in which its price changes.

Do spikes in volume of crypto trading do not usually correspond to volatility? ›

Unusually high spikes in crypto trading volumes will also often correspond to a growth in volatility. This high volatility is one of the primary reasons that unbacked cryptoassets are not suitable to be used widely as a form of money.

What are the most volatile times for crypto? ›

According to data from on-chain data provider Skew, 3 - 4 PM UTC is when cryptocurrency trading is most intense.

How do you avoid volatility in crypto? ›

Use Dollar-Cost Averaging

Dollar-cost averaging allows you to methodically build a position while avoiding the psychology of trying to perfectly time market tops and bottoms. As a result, will buy relatively more crypto when prices drop and less when they rise, reducing the impact of volatility.

Why do all cryptos go up and down at the same time? ›

Cryptocurrencies are heavily influenced by general market sentiment. Studies have shown that investors are more likely to turn towards crypto during uncertain times. This means that news headlines can impact the entire cryptocurrency market!

How do you know when crypto will rise or fall? ›

Prices are lower when the market is less busy. Although you can trade cryptocurrencies at any time of day, the market is more active during typical work hours and less active early in the morning, at night, and on the weekends. Generally, cryptocurrency prices start low on Monday and rise throughout the week.

Who controls the value of cryptocurrency? ›

Like all forms of currency, Bitcoin is given value by its users, supply, and demand. As long as it maintains the attributes associated with money and there is demand for it, it will remain a means of exchange, a store of value, and another way for investors to speculate, regardless of its monetary value.

Is crypto going to crash in 2024? ›

A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.

What is the most volatile crypto to trade? ›

Unsurprisingly, Bitcoin emerged as the most volatile cryptocurrency, experiencing a staggering $26,741 surge between its lowest and highest values. From $20,195 in Mar. 2023 to $46,936 in Jan. 2024, Bitcoin's rollercoaster ride highlighted the extreme nature of the cryptocurrency market.

Why is crypto market surging? ›

Bitcoin's recent surge has been buoyed by an influx of institutional investors entering the crypto market. That has played a significant role in supporting Bitcoin's price at its current levels. Moreover, the passage of time seems to work in Bitcoin's favor as it becomes increasingly accepted as an alternative asset.

Is high volatility bullish or bearish? ›

When applied to stock markets, a bearish market will show a high implied volatility rate as opposed to a bullish market, where implied volatility will be low. The primary reason behind this is, in a bullish market, investors expect prices to increase over time and therefore, IV goes down.

Does trading volume affect volatility? ›

Also, stocks that trade at very low volumes, which are far less liquid than those with higher average volumes, can have higher volatility than their higher-volume counterparts. In relatively illiquid stocks, any trading that is performed can have a drastic effect on the stock price because so few orders are placed.

Does trading volume affect crypto price? ›

Increasing volume of buying will push the price of a cryptocurrency higher, but for that to continue, volume must be maintained. In that way, volume can be a good indicator of price momentum. Rising prices on declining volume can indicate declining momentum and potential reversal.

What does it mean when crypto is volatile? ›

The price of cryptocurrencies can be volatile. These price fluctuations are often influenced by supply and demand, investor and user sentiment, media hype, and government regulations, to name a few.

Why is crypto being volatile bad? ›

Its prices can swing wildly over short periods, drawing in traders and investors attracted by the potential for significant returns but also exposing them to substantial risk. Understanding Bitcoin's price volatility is not just a curiosity but a necessity for cryptocurrency market participants.

How does volatility affect trading? ›

Market volatility brings increased opportunity to profit in a shorter amount of time, but also carries increased risk. Risk control measures—such as stop losses—gain in importance when markets are more volatile.

What is volatility in trading crypto? ›

Volatility refers to rapid and significant price fluctuations that occur frequently in the cryptocurrency market. Unlike traditional financial (TradFi) markets, where price movements of currencies are usually less pronounced, cryptocurrencies can experience wild swings in a matter of hours or even minutes.

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