The cryptocurrency market experienced a turbulent day, with the market cap dropping by 2.63% to $3.67 trillion. This instability led to a decrease in trader activity, as trading volumes also fell by 1.32% to $203.4 billion. Despite the market turmoil, the Fear & Greed Index remained steady at a score of 80, indicating extreme greed among market participants.
In a surprising move, Binance announced the delisting of three tokens—WRX, AKRO, and BLZ—from its exchange. This decision had an immediate impact on the market, with WRX plummeting 40%, AKRO dropping 25%, and BLZ losing 24% in just a few hours.
Bitcoin also faced a slight dip, with its price falling by 1.98% to $104,923.94. The daily trade volumes decreased by 2.78% to $77.35 billion. Despite this pullback, Bitcoin remains a dominant force in the market, holding a market share of 56.47%.
Ethereum saw a 3.12% decline in its price, dropping to $3,884.64 amidst the overall market uncertainty. Solana followed suit, decreasing by 1.57% to $217.45. XRP experienced a sharper decline of 4.39% to $2.57.
Among the top gainers, PENGU stood out with an impressive surge of 587.47%. BGB and MOVE also posted significant gains of 13.74% and 7.72% respectively. On the other hand, HNT, PYTH, and DYDX faced losses of -11.33%, -10.48%, and -9.80% respectively.
In terms of FAQs, Binance’s decision to delist WRX, AKRO, and BLZ was not accompanied by specific reasons, but such actions are typically taken due to regulatory concerns or low trading activity. The Fear & Greed Index currently stands at 80, indicating extreme greed in the market. PENGU emerged as the best-performing altcoin of the day, surging by an impressive 587.47% in the last 24 hours.
For more detailed insights into Bitcoin and Ethereum’s future price movements, check out our Bitcoin Price Prediction and Ethereum Price Prediction pages. Stay tuned for more updates on the cryptocurrency market as it continues to evolve and adapt to changing conditions.