The cryptocurrency market experienced a bearish trend on May 9th, with major digital assets facing declines. Bitcoin (BTC), the largest cryptocurrency, dropped below $62,000, trading at $61,495.88 and seeing a 1.75% decrease. Its trading volume dipped by 1.38% to $25.10 billion.
Ethereum (ETH), the second-largest crypto, also fell, dropping 0.50% to $2,993.52. ETH’s market cap stood at $359.52 billion, with a 1.73% decrease in trading volume to $11.25 billion.
Solana (SOL) continued to struggle below $150, losing 1.91% to trade at $143.80. SOL’s 24-hour trading volume plunged by 6.48% to $2.35 billion.
However, not all major cryptocurrencies saw declines. XRP gained 0.24%, reaching $0.5208, although its trading volume fell by 11.95% to $1.02 billion. Cardano (ADA) saw a significant 4.31% surge, trading at $0.4602, with a 74.04% spike in 24-hour trading volume to $519.72 million.
In the meme coin space, Dogecoin declined by 2.02% to $0.1471, while Shiba Inu slipped 0.32% to $0.00002287.
As market volatility persists, investors closely monitor price movements, seeking opportunities amidst the fluctuations in the ever-changing cryptocurrency landscape.
