Over the past day, many altcoins have seen declines, especially the leading altcoin Ethereum (ETH). The Ethereum price collapse deepened as ETH slipped below $1,800. Here are the details and price movements of other altcoins…
The sharp fall in Ethereum and other altcoins: What happened?
At the time of writing, ETH is on the agenda with a 8.52 percent drop. The aforementioned decline appears to have arisen due to concerns over the stability of ETH’s upcoming “merger” (Ethereum 2.0) update. On the other hand, the gas fee on the ETH network dropped to $2.54 earlier this week. According to Santiment, the on-chain data-providing platform, the low fees for ETH are due to low network activity, stagnation and fear. Apart from
ETH, altcoins in other Blockchain networks in the decentralized finance (DeFi) space are also experiencing a deep correction. According to the latest Bloomberg report, the Terra crash has caused DeFi players to be extremely cautious. The impact of the collapse of Terra, a blockchain ecosystem that supports one of the biggest experiments in decentralized finance, as we reported on cryptokoin.com, plunged an already bearish market into a wild fall this month.
What is the latest situation in prices?
In general, the prices of many popular altcoins have lost close to 10% in the last 24 hours – some of them even more than 10%. Considering the cryptocurrencies that are in the top 20 with their market capitalization, except stablecoins, BNB has fallen by 7.8 percent and XRP has fallen by 1.69%. Cardano (ADA) fell 8.66 percent, while Solana (SOL) lost around 11.43 percent.
Dogecoin (DOGE) 4.33 percent, Polkadot (DOT) 8.41 percent, Tron (TRX) 2.52 percent, Avalanche (AVAX) 13.24 percent, Shiba Inu (SHIB) 8.83 percent Unus Sed LEO (LEO) fell 1.32 percent, Polygon (MATIC) 8.83 percent, Litecoin (LTC) 5.61 percent, and most recently Cronos (CRO) fell 8.18 percent. Currently, apart from stablecoins, XRP and LEO appear to be in the top 20 and have lost the least value.
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