The crypto market is not in good shape today. In the last 24 hours, some of the digital currencies corrected significantly. The entire global crypto market lost over 3.5% of its market capitalization. However, since the individual cryptos developed significantly differently, in the following article we want to take a look at three coins that are listed in the top 10 of the crypto market with a view to the market cap. How is the current performance of Binance Coin, XRP and Dogecoin?
Binance Coin (BNB)
The Binance Coin has lost significant value in the past 24 hours. Despite this recent price development, it still looks positive on a weekly and monthly basis. In the last seven days the price of the coin rose by over 7%, in the last month the performance is even over 30%. Now, however, the price level from the beginning of June could be decisive for further performance in the near future. Because recently it was not possible to surpass prices of 430 US dollars. The Binance Coin has now established itself behind the crypto heavyweights Bitcoin and Ethereum with a market cap of over 67 billion US dollars.
XRP also performed significantly worse than the entire crypto market in the last 24 hours. Here the minus is around 7.5% within one day. However, this should not hide the fact that the recovery in the Ripple price has continued to advance over the last month. On a monthly basis there is a price increase of around 55%.
Fundamentally, there was also a lot of positive news for the company Ripple Labs and XRP. Because according to experts, the chances are not too bad in the legal proceedings against the US Securities and Exchange Commission (SEC). At the same time, you keep expanding with XRP. In addition to XRP debit cards, the expansion in Asia and the implementation of sidechains, smart contracts and DeFi, the focus is also increasingly on sustainability. Investors should not write off XRP – because it is precisely the targeted cooperation with the intermediaries that makes Ripple unique, so that XRP is suitable for a diversified crypto depot.
The Dogecoin was one of the losers in the past 24 hours. With a price slide of over 10%, the company fell back below the 30 US cent mark, which it has not been possible to overcome sustainably since mid-June. Despite positive news about Tesla CEO Elon Musk and investor Mark Cuban, who both equally emphasize the chances of Dogecoin, the former fun currency is one of the weaker coins of the day. Market capitalization fell below $ 40 billion again. With a trading volume of around $ 5.5 billion, the Doge was also significantly more popular than, for example, Cardano and Binance Coin, which have a higher market capitalization.
Open a free crypto broker account? Trade real cryptocurrencies quickly and securely with eToro *.