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Amid the Market Crash, Prices of Major Coins Reached 6-Months Low

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Amid the Market Crash, Prices of Major Coins Reached 6-Months Low

Overnight, the price of bitcoin fell below $35,000, settling at $35,268 on CoinMarketCap, slowly rising on Saturday morning. Many coins have seen a steady rise, and the bulls are holding tight.

After a six-month respite, bitcoin’s 24-hour low of $34,020.27 saw the cryptocurrency fall back to depths not seen since July 2021. After reaching a record high of $69k on November 10th of last year, the price of Bitcoin has been steadily declining, with the sell-off ramping up in recent weeks. Moreover, it isn’t limited to Bitcoin. Ethereum, the second-largest cryptocurrency in terms of market capitalization, is also declining.

Read More: Bitcoin Price Prediction

Read More: Ethereum Price Prediction

Ethereum, like Bitcoin, has fallen by 49% from its November high of $4,878.26. In the last 24 hours, popular tokens on the Ethereum network have not withstood the sell-off.

Whales in Action

At present, Ethereum’s main rival, Solana, has dropped 4.65% in the previous day, trading at just under $100 after a meteoric rise last year. Many coin prices have gone back a year with the current price decline. WatcherGuru tweeted a picture stating the price of significant coins the same day last year. Have a look at the tweet.

On this day last year$BTC: $33,005.76$ETH: $1,236.51$ADA: $0.3496$BNB: $40.86$VET: $0.03141$AVAX: $12.72$LUNA: $0.8133$SOL: $3.35$DOGE: $0.008523$MATIC: $0.0313$AXS: $0.6362$MANA: $0.1582$SAND: $0.10941

— Watcher.Guru (@WatcherGuru) January 23, 2022

According to newly released statistics, the Largest Ethereum (ETH) whales worldwide are devouring stablecoins, and other altcoins as Bitcoin (BTC) continues to struggle around $35,000. As per whale-monitoring bot WhaleStats, the top 1,000 non-exchange Ethereum wallets reportedly bought stablecoins, including USD Coin (USDC), Tether, and Binance USD, as well as ETH, in the previous seven days.

Amid the Market Crash, Prices of Major Coins Reached 6-Months Low

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