Bitcoin (BTC) is presently trading at $45,759, after another decline below $46,000. Most cryptocurrencies are also glowing red, with terra (LUNA) leading the pack following a significant double-digit gain.
Altcoins have been in a steep fall since the beginning of December, particularly following the massive collapse two weeks ago. Ethereum (ETH) dropped from over $4700 to $3500 in a single day. Even though it has made up a lot of ground since then, it is still trading below $ 4,000.
On a daily basis, however, the situation for most currencies seems to be improving. Binance coin (BNB) is now trading at $518, up 2.2 percent. Solan (4.5%), cardano (3%), ripple (1%), dogecoin (1%), polkadot (1%), and shiba inu (1%) all had a tiny green glow on Sunday. Regrettably, the majority of them have already succumbed.
On the other hand, Terra is the most outstanding performance among the large-cap alts. LUNA surged 14% in a single day, approaching $75. Consequently, this cryptocurrency surpassed Polkadot to become one of the top 10 most valuable cryptocurrencies by market capitalization (DOT).
The cryptocurrency market’s entire capitalisation grew by $50 billion in a single day to more than $2.2 trillion.
Additionally, the underlying cryptocurrency has seen significant fluctuation in recent months. It failed to break through the $51,000 level on December 12, and bears have knocked it several thousand dollars lower since then.