Solana

2024

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<p>Many crypto assets faced volatility issues recently, leading to the crypto market heatmap dominated by red. It has not happened for the first time, as with the start of the second quarter of 2024, the crypto market is going through major price fluctuations and volatility issues.</p> 
<p>It clearly demonstrates a market fall today where the <a href="https://coingape.com/price/">cryptocurrencies</a> are dipping. Many will be terrified of the market crash and might end up selling their crypto, initiating selling pressure.</p> 
<p>In this blog, let us discuss why the crypto market is falling today.</p> 
<h2 id="overview-of-crypto-market">Overview Of Crypto Market</h2> 
<p><a rel="nofollow" href="https://coinmarketcap.com/crypto-heatmap/"><img decoding="async" src="https://coingape.com/wp-content/uploads/2024/04/image-13.png" alt="Crypto Market Heatmap" width="897" height="516"></a></p> 
<p>The global <a href="https://coingape.com/glossary/market-capitalization/">crypto market cap</a> is $2.53 Trillion and has faced a decrease of 4.38% in the last 24 hours. The trading volume has also decreased to $96.15 Billion.</p> 
<p>Though there is no major price fall in the case of Bitcoin and Ethereum, the cryptocurrencies like dogwifhat, wormhole, and a few other meme coins have dropped heavily. Talking of the meme coins, the overall market cap has decreased by 6.39%, whereas the trading volume is trying to make a comeback.</p> 
<p>Also Read: <a href="https://coingape.com/trending/ripple-ceo-brad-garlinghouses-crypto-prediction-for-2024/">Ripple CEO Brad Garlinghouse’s Crypto Prediction For 2024</a></p> 
<p>Earlier, the Solana network was trending and has dominated the crypto market. Now, the Solana ecosystem has faced a 3.37% drop in market cap. This overall crypto market fall has also affected the <a href="https://coingape.com/glossary/stable-coins/">stablecoins</a>, as the market cap decreased by 0.14%.</p> 
<p>Compared to the rest of cryptocurrencies, <a href="https://coingape.com/top-ai-crypto-tokens/">AI altcoins</a> have dropped the most. The AI ecosystems market cap has dropped by 6.48% and the trading volume is down by 7.78%.</p> 
<h3 id="why-is-the-crypto-market-falling-today">Why Is The Crypto Market Falling Today?</h3> 
<p>Market volatility often leads to such price falls, crashing the crypto market. Reasons, like Market Sentiments and entering the correction zone, have been associated with this fall.</p> 
<h3 id="market-sentiments">Market Sentiments</h3> 
<p>The <a href="https://coingape.com/blog/what-is-crypto-fear-and-greed-index-how-does-it-work/">fear and greed index</a> data has shifted from yesterday’s score of 79 to 75, which is a shift from an almost too-greedy zone to a just greedy zone. It shows an increased selling pressure in the crypto market where the investors sell&nbsp;their cryptocurrencies instead of buying or HODL them.</p> 
<p>Though the current sentiment shift has not been that huge, but compared to the March data, the market is slow.</p> 
<h3 id="crypto-liquidation">Crypto Liquidation</h3> 
<p>According to the Coinglass data, around 99,403 crypto traders have been victims of <a href="https://coingape.com/education/what-are-liquidity-pools-heres-all-you-need-to-know/">liquidity</a> in the last 24 hours. The total liquidation data contains $274.74 Million, and <a href="https://coingape.com/bybit-review-pros-cons/">Bybit</a> alone is responsible for the $8.38 Million in liquidations.</p> 
<p>Bitcoin, Ethereum, and Solana are the most affected cryptocurrencies by this liquidation.</p> 
<h3 id="market-correction-before-halving">Market Correction Before Halving</h3> 
<p><a href="https://coingape.com/halving/bitcoin-halving/">Bitcoin halving</a> is just a few days away, and the mining rewards will be half after that. It will help with maintaining the scarcity of Bitcoin as the production will decrease, but this will impact the miners.</p> 
<p>Also Read: <a href="https://coingape.com/markets/2-altcoins-to-sell-pre-bitcoin-halving/">2 Altcoins To Sell Pre-Bitcoin Halving</a></p> 
<p>The analysts have confirmed a Bitcoin correction before the halving events, which is happening right now. This correction might continue for a few days before entering the <a href="https://coingape.com/trending/top-cryptocurrencies-set-for-pre-halving-price-rally/">pre-halving price rally</a>, followed by a long run post-halving.</p> 
<p>Though the effects of this are better, the analysts believe a shift of miners to the other <a href="https://coingape.com/glossary/proof-of-work-pow/">proof-of-work</a> network after halving.</p> 
<h2 id="final-thoughts">Final Thoughts</h2> 
<p>Factors like <a href="https://coingape.com/markets/xrp-price-market-sentiment-targets-1-milestone-amid-rigorous-regulatory-debates/">market sentiments</a> and liquidation play a massive role in the crypto market performance. For now, the crypto market is down, and a few cryptocurrencies have suffered, losing days of gains. However, there is a possibility of recovery within the next few days.</p> 
<p>Read More: <a href="https://coingape.com/trending/3-top-most-profiting-meme-coins-right-now/">3 Top Most Profiting Meme Coins Right Now</a></p> 
<p>The post <a href="https://coingape.com/trending/is-the-crypto-market-falling-today/">Is the Crypto Market Falling Today?&nbsp;</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Is the Crypto Market Falling Today?

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