Prices of many popular crypto coins slumped today, while the NFT platform Flow saw a jump of 20%. Bitcoin, Ethereum, and Dogecoin were among the top 10 cryptocurrencies that suffered lower prices. The news comes after Bitcoin’s Q2 catastrophic performance. Let’s check out the crypto prices in more detail below.
Following a good weekend rally, Bitcoin’s value plummeted on Monday, July 7th.
After peaking at around $35,887 on Sunday, the BTCUSD pair went down by -5.56% and finished at $33,282. But then a turnaround happened, and the price climbed to $34,500 overnight about midnight Eastern. Harking back to Friday, the prices were at $32,768.
People generally view the $30k level as an essential divide, with possible trouble if prices go under that mark. Let’s remember that Q1 saw the second-worst performance from the so-called “digital gold” coin. The worst one was definitely in 2010 when BTC slumped by 42%.
Ether is, as we know, a coin linked to the Ethereum blockchain system. It was trading 3% lower and held the price of $2,262.
But not all is grey for the silver to Bitcoin’s gold – investors are finding reasons to be bullish. A decentralized exchange named ShibaSwap was launched just now, along with a favorable bullish report from Wall Street. Ether is starting to ride the wave of that positive news.
The new DAX ShibaSwap was developed on the ETH blockchain, which supports ERC020 tokens. ETH is used as a payment method there when it comes to transfers and gas fees. And when ETH v.2 hits, people can expect even faster transactions for less money.
Dogecoin saw the biggest fall of the Top 10 cryptocurrencies when it comes to crypto prices. The popular meme-inspired coin was down by 8.28% on Monday, meaning it’s trading at circa $0.215. And no matter what dogecoin-enthusiast Elon Musk does, even he can’t conjure Tweet magic enough to save the coin’s current state.
When it comes to other coins, they weren’t doing that well, either. The popular cryptocurrency exchange Binance developed its currency called “Binance Coin,” a virtual token of the DeFi system. It saw its price go down by nearly five percent on Monday, crawling down to $316.
Cardano (ADA) had a similar path in terms of crypto prices. It was down by four percent, meaning it dipped to $1.37. Ripple’s XRP had an even more significant fall – 6.55%. It was trading around $0.62, but we should take a moment and remember that the coin’s developer Ripple Labs is still in the middle of a legal battle with the SEC (The Securities and Exchange Commission). Polkadot (DOT) was trading at around $15, which meant it suffered a fall of 7.67%.
Not all parts of the crypto-verse are suffering. NFT platform Flow saw a nearly-20% boost in the past day, meaning its price is now $15.14. And gaming tokens Decentraland and Axie Infinity carried on climbing to better prices, reaching 4.58% and 2.25%.