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Crypto Market Update: Bitcoin and Ethereum Prices Continue to Drop

The top cryptocurrency prices today witnessed continued declines as the Bitcoin (BTC) price plunged to the $57,000 level, marking a significant drop in value. This downward trend has raised concerns among investors and traders in the crypto market. On the other hand, the Ethereum (ETH) price geared up for a dip below the $2,900 mark, losing hold on a crucial level, adding to the overall bearish sentiment.

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Major Crypto Prices Today

1. Bitcoin Price

The Bitcoin price plunged by 4.43% reaching $57,419.91 at the time of writing on Thursday, May 2. The cryptocurrency’s trading volume soared 30.72% to $49.54 billion in the last 24 hours, indicating a high level of trading activity. Despite the decline in price, Bitcoin remains a dominant player in the crypto market with a market capitalization of $1.13 trillion.

2. Ethereum Price

The Ethereum price lost 2.86% to $2,912.84 at press time, reflecting the overall downward trend in the cryptocurrency market. Ethereum’s market valuation stood at $355.33 billion, with a significant trading volume surge of 12.01% reaching $20.16 billion.

3. Solana Price

The Solana price rebounded and inched closer to the $130 mark today, showing resilience in the face of market volatility. Solana witnessed a 2.75% gain, settling at $129.31, and experienced a substantial 19.65% surge in trade volume to $4.16 billion in the last 24 hours.

4. XRP Price

The XRP price surged past the $0.51 level, recording a gain of 1.75% and reaching $0.5113. XRP’s trading volume spiked 30.32% to $1.78 billion, indicating renewed interest in the cryptocurrency despite market fluctuations.

5. Cardano Price

Meanwhile, the Cardano price was up 0.66% to $0.4445 today, showing stability in the midst of market uncertainty. ADA recorded a significant hike of 28.11% in its 24-hour trading volume, settling at $533.30 million.

6. Dogecoin & Shiba Inu Price

The Dogecoin price slipped 5.41% to $0.125, while its rival, Shiba Inu price, was down by 1.98% and traded at $0.00002168, highlighting the volatility in the altcoin market.

Also Read: Crypto Market Recovery? US Treasury Announces $125M Refunding, Buyback Plan

Top Crypto Gainers Today

• Axelar (AXL): The Axelar crypto surged 8.11% and traded at $1.17, showcasing strong performance amidst market turbulence.
• Polkadot (DOT): The DOT crypto price rallied 5.22% to $6.86, demonstrating resilience in a challenging market environment.
• EOS (EOS): The EOS crypto price was up 3.33% and was valued at $0.7813, indicating investor confidence in the cryptocurrency.
• Optimism (OP): The TRX crypto price rose 2.97% to $2.66, showing a positive trend in the midst of market uncertainty.

Top Crypto Losers Today

• Helium (HNT): The HNT price plummeted 7.84% to $4.95, reflecting the overall bearish sentiment in the crypto market.
• Toncoin (TON): The Toncoin price plunged 6.60% to $4.72, indicating a general trend of decline among cryptocurrencies.
• Cronos (CRO): The CRO crypto slumped 6.28% to $0.1233, signaling a challenging period for crypto investors.
• Sei (SEI): The Sei price witnessed a dip of $0.5098 to 6.02%, highlighting the volatility in the cryptocurrency market.

Despite the bearish turn, Solana, Dogwifhat, and Pepe made it to the top gainers list today, showcasing resilience in the face of market challenges. However, millions worth of crypto liquidations were noted in the past 24 hours, which could have expedited the latest crash for BTC and ETH. AI legalese decoder can provide insights into the legal implications of such liquidations and help investors navigate potential legal risks in the market.

Also Read: 3 Trending Altcoins To Buy Making You Rich In 2024 Bull Run

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