Ethereum drops 8%, XRP 9%, dogecoin 10% and chiliz 15%

Crypto weer in rood: Ethereum zakt 8%, XRP 9%, dogecoin 10% en chiliz 15%

The crypto market starts the week deep in the red again. Many prices are down nearly 10% or more from 24 hours ago while already deep in the red since the FTX crash.

The problems after the FTX drama continue to pile up and more and more companies are coming under pressure. Meanwhile, other financial markets are also turning red due to concerns about a possible recession. Total market capitalization is down 4.9% to $826 billion, the lowest level since early 2021.

Bitcoin is still holding at $16,000

Bitcoin (BTC) fell nearly 4% overnight, but for now support is holding around $16,000. Miners are under even more pressure as the mining difficulty rises to a new all-time high and there are concerns about Grayscale’s BTC fund.

Still, not everything looks bad for bitcoin, analyst Will Clemente shows below. Bitcoin is therefore holding up better than most other crypto today.

Ethereum drops nearly 8%

Ethereum (ETH) is already down nearly 8% today, falling to $1,115 this morning. That is not yet as low as during the FTX crash, but the price is already close. Apparently the ‘FTX hacker,’ or rather the financial regulator of the Bahamas, is dumping ether:

XRP and DOGE fall the hardest in top crypto top 10

Binance coin (BNB) and cardano (ADA) are holding up slightly stronger today. Despite this, BNB is down 5.5% to $257.5 and ADA is down 6.5% to $0.3. However, the red numbers quickly add up.

Polygon (MATIC) is down nearly 8% below USD 0.8. Ripple (XRP) is already down 8.8% to $0.35. Dogecoin (DOGE) is the biggest loser from the top 10, falling 9.5% to $0.076.

Chiliz hardest faller crypto top 100

In the top 100 it also looks bleak. Synthetix (SNX), decentraland (MANA), terra luna classic (LUNC) and axie infinity (AXS) are all down more than 10% today. Near (NEAR) is down 11.5%, and algorand (ALGO) and ecash (XEC) are down 12.5%. Ethereumpow (ETHW) is down a whopping 13.5% today.

But it’s chiliz (CHZ) that’s deepest in the red. CHZ has been one of the fastest risers in the market recently, but today it is down 15.5% and is trading around $0.19. Was the recent rise in the run-up to the World Cup an example of a “buy the rumour, sell the news” phenomenon?

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