TODAY IN THE CRYPTOCURRENCY MARKET: Bitcoin has been relatively stable for the last 24 hours after falling sharply with the FTX crash last week. BTC is currently trading at 16,300.
The second largest cryptocurrency Ethereum has also exhibited a similar price action as BTC in recent days. ETH is hovering just above 1,200 today.
While the cryptocurrency market seems generally stagnant today, XRP draws attention with its rapid price increase in the past hours. XRP gained about 10% and is currently trading at 0.37.
Solana, which has experienced a severe decline with FTX and AlamedaResearch bankruptcy, has lost its place among the top 10 cryptocurrencies. SOL has lost more than 50% value in the last week and is trading around 14 today.
The total value of the cryptocurrency market, which was over 1 trillion just a week ago, seems to have declined to 824 billion today.
This post is based on this twitter thread.