Over the last 24 hours, the cryptocurrency market has fallen 11%. Avalanche and Shiba Inu are just a few of the tokens and coins that suffered major losses over the past day.
It’s all over the crypto market today again, led by Terre (LUNA), and its 97% fall after the collapse of its -paired UST stablecoin.
No other coin has suffered so much as LUNA. However, major tokens and coins like Avalanche and ApeCoin have all experienced significant, double-digit percentage drops over the past day.
According to CoinMarketCap, Avalanche (AVAX), is the largest loser of the day. It fell 34% to $32, just below $32, according to data. This morning, it fell further to below $28 — the lowest level since August 2021.
It is not the only altcoin that is suffering. Solana (SOL), which is currently at $52 has fallen 26% over the last 24 hours. It was below $50 today, the same as last August.
Cardano (ADA), which is currently at $0.56, has fallen 16% since the beginning of this writing. This compares to February 2021’s lows. Polkadot has dropped 24% to $9 over the past 24 hours, reaching lows not seen since January 2021.
Meme tokens and coins, which are already notoriously volatile, are also dipping hard today. Shiba Inu’s (SHIB), 27% loss over the past day. The current price is $0.00001241, which is a new seven-month low. After a 13-month low, Dogecoin has fallen 23% to $0.087.
ApeCoin (APE), a token that was created to support the growing Bored Ape yacht club ecosystem, was rapidly falling. It lost 37% of its value in the past 24 hours and is currently at $5.90. The price is now at $5.90, down from $39.40 in March when it was launched.
Major metaverse gaming tokens for the Sandbox and decentraland (MANA), both in high demand after Facebook’s metaverse plans, are also experiencing a tough day. SAND has fallen 28% to $1.32 and MANA by the same amount to $0.85. Both tokens have lost most of their value since October.
The crypto market has dropped 11% in the last 24 hours. Leading crypto Bitcoin fell 6% to a price of just under $29,900. Ethereum is the most popular platform for decentralized apps (dapps) and NFTs . It has fallen about 8% to $2,180.
