This week in the cryptocurrency market has closed on a notably bearish note, leading to significant losses across various tokens. Investors have witnessed top cryptocurrencies sliding down in value, and the altcoin sector is showing heightened volatility, with several tokens plummeting over 10% within just 24 hours.
Among the tokens generating buzz this week is AB crypto, which peaked at a significant $0.0157 earlier. However, it has recently faced a pullback, hovering around the $0.010 mark today and currently trading at approximately $0.0109. This decline is largely attributed to a surge in profit booking among investors, marking a crucial pivot point in its short-term outlook.
Similarly, the Virtual Protocol token has experienced a shift in momentum, losing around 11% today. Its trading volume soared past $190.66 million, but even that wasn’t enough to maintain its value. At present, VIRTUAL’s price sits at $1.44, which has brought down its market valuation from over $1 billion to approximately $938.94 million. It’s now flirting with a notable psychological barrier at $0.999.
On a different front, the memecoin market has seen SPX6900 suffer the most, crashing by just over 10.5%. This trend highlights the prevailing market sentiments, suggesting that the upcoming weekend could be pivotal for price performance in the next week. Traders and investors alike are keenly watching for any signs of reversal or further decline.
Trending Cryptos Today
- BugsCoin (BGSC)
- FUNToken (FUN)
- Ethereum (ETH)
- Sei (SEI)
- Solayer (LAYER)
Top Gainers & Losers Today
| Gainers | Losers |
| Sei (SEI): +15.56% | AB (AB): -12.73% |
| Zcash (ZEC): +2.13% | Virtual Protocol (VIRTUAL): -9.97% |
| Curve Dao Token (CRV): +1.97% | SPX6900 (SPX): -9.89% |
Crypto Market Cap Overview
Looking at the overall cryptocurrency landscape, today’s market has delivered a consolidated price action with a change of greater than 1% in valuation. Following a drop of 2.94% in daily trading volume down to $93.65 billion, the overall market valuation currently stands at an impressive $3.2 trillion.
The Fear & Greed Index sits at 43 (Neutral), while the Altcoin Season Index reflects an ongoing Bitcoin season with a rating of 18/100. Furthermore, the CoinMarketCap 100 index is valued at $196.36, showing a modest change of -0.87%, pointing to a cautious atmosphere among market participants.
Also Read: Weekly Wrap: Stablecoin Bill Moves Ahead, Ripple-SEC Lawsuit Continues, Tron IPO Buzz, and More
