The cryptocurrency market continues to be in the red, with Bitcoin (BTC), struggling to regain the $40K mark. However, major altcoins such as Ripple (XRP), and Dogecoin(DOGE) have made some gains and are now up respectively by 5% or 4%.
Bitcoin hovering at $40K
The crypto markets have not enjoyed a smooth start to April, despite some positive movements. Bitcoin started April at almost $46,000. It has been through significant volatility since then and at one point dropped below $40K.
Yesterday, April 14, was a positive day for the most popular digital asset. It maintained $41K and even crossed over $42K at one point. However, today’s red trading session on Wall Street saw BTC drop below $40,000 again.
BTC has managed to recover some losses and is trading at just over $40K. This is 2.5% lower than its USD valuation 24hrs ago. Its market capitalization totals $763 billion.
Source: Trading View
Ripple, Dogecoin and other Green products are available
It is a common occurrence that alternative coins follow bitcoin and are also in red. Ether, the second largest cryptocurrency, is down around 2.5%.
Luna, Terra’s native token, lost approximately 7% of its USD value despite multiple BTC purchases over the past few weeks. NEAR (another asset that was recently in the spotlight) is also heading south and has fallen by 6%.
A few large caps, however, are still in the green corner. Ripple and Dogecoin have posted the greatest gains. XRP has risen by more than 5% to $0.8 at the moment, its highest trading level in the past week.
A further increase of around 4% was also recorded by the first ever memecoin, which headed north. Elon Musk, the richest man in the world, often praises DOGE. Yesterday, Tesla’s CEO offered $43 billion to buy Twitter, one of the largest social media platforms in the world. This might have been a positive factor in DOGE’s rise.
Global cryptocurrency market cap now stands at $1.88 trillion. This is a decrease of 2% over the previous day.
The Cryptocurrency Market Overview Source: Quantify. Cryptocurrency Market Overview
Marla Brooks – Financial Analysis
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