SUMMARY
Cryptocurrencies fell on Tuesday, reversing gains from previous session. The global crypto market cap stood at $1.07 trillion, with a volume of nearly $45.27 billion in the past 24 hours.
1 / 8Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 0.5 percent to $23,448.1. Its market value stood at $452.6 billion. The trade volume was at $22.5 billion.
2 / 8Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.6 percent to nearly $1,630.7 with a market capitalisation of $199.6 billion. The trade volume of Ethereum was $7.2 billion in the last 24 hours.
3 / 8Dogecoin | Meme-based virtual currency, Dogecoin, fell 0.7 percent on Tuesday. Its market value stood at $10.8 billion. The trade volume was at $293.4 million.
4 / 8Solana | Solana fell 2.4 percent to $22.5 with a market capitalisation of $8.5 billion. The trade volume of Solana was $464.1 million in the last 24 hours.
5 / 8Shiba Inu | Shiba Inu fell 2.6 percent with a market capitalisation of $6.8 billion. The trade volume was $197.5 million in the last 24 hours.
6 / 8Polygon | Polygon fell 4.2 percent to $1.2 with a market capitalisation of $10.7 billion. The trade volume was $545.9 million in the last 24 hours.
7 / 8“The Monday’s drop came after the release of the US Durable Goods Orders data for January, which dropped by 4.5 percent. Despite strong economic data for the same period, this raised concerns among investors and traders about inflation and potential interest rate hikes,” said Edul Patel of Mudrex.
8 / 8Patel added, “BTC lost its weekly gains and is currently in the red after dropping from its previous high of over US$25,000 a week ago. Overall, the broader crypto market is facing challenges amidst the bearish market conditions.”
