Greed

Sweat Economy

Bitcoin

Optimism

Avalanche

<p>A recent update from CryptoRank, a prominent crypto research and analytics platform, revealed that the <a href="https://www.cryptopolitan.com/petro-cryptocurrency-discontinued-venezuela/" rel="noopener noreferrer nofollow">cryptocurrency</a> market is currently facing a significant downturn. As of today, January 13, 2024, all of the top 10 cryptocurrencies by market capitalization are trading in the red zone. This downward trend follows a sharp drop in Bitcoin’s price, which had reached a yearly high the day before.</p>
<h2 class="wp-block-heading" id="bitcoin-s-price-plunge">Bitcoin’s Price Plunge</h2>
<p>Bitcoin, the leading cryptocurrency, experienced a substantial decline in its value on Friday, losing 7.75% of its worth between its opening and closing prices, as reported by TradingView data. This sudden drop brought Bitcoin’s price down to the $43,000 region.&nbsp;</p>
<p>At the time of <a href="https://twitter.com/CryptoRank_io/status/1746073062426935787" rel="noopener noreferrer nofollow" target="_blank">CryptoRank’s</a> update, Bitcoin had recovered slightly, but its 24-hour loss still stood at 6.92%.</p>
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   <p lang="en" dir="ltr">📈Market Overview<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Bitcoin</a> price trades above $43K. The top-10 cryptos are traded in red zone:<a href="https://twitter.com/search?q=%24AVAX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$AVAX</a> -7.96%<a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$SOL</a> -7.07%<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a> -6.92%<br><br>Market capitalization: $1.76T (-7.11%)<br>The <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#BTC</a> dominance: 47.82% (+0.54%)<br>Fear &amp; Greed Index: 64 (Greed)<br><br>👉 Top Gainers<br><br>Rocky <a href="https://twitter.com/search?q=%24ROCKY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ROCKY</a> +54.7%… <a href="https://t.co/eUmer4381F" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/eUmer4381F</a></p>— CryptoRank.io (@CryptoRank_io) <a href="https://twitter.com/CryptoRank_io/status/1746073062426935787?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">January 13, 2024</a>
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<p>CryptoRank highlighted AVAX and SOL among the top 10 cryptocurrencies, which recorded significant losses in the preceding 24 hours. AVAX, the native token of the Avalanche blockchain, saw a decline of 7.96%, while Solana’s SOL lost 7.07% during the same period.</p>
<h2 class="wp-block-heading" id="overall-market-metrics-decline">Overall market metrics decline</h2>
<p>According to CryptoRank, nearly all of the crucial metrics for the crypto market experienced a decline. The total crypto market capitalization plummeted to $1.76 trillion, marking a substantial 7.11% loss within a 24-hour.&nbsp;</p>
<p>Despite the overall market downturn, Bitcoin’s dominance slightly increased by 0.54%, reaching 47.82%. The Fear and Greed Index also remained at 64, indicating a prevailing greedy sentiment in the crypto market.</p>
<p>In contrast to the larger-capped cryptocurrencies, several smaller-cap tokens witnessed significant gains. CryptoRank identified ROCKY as the day’s top gainer, with an impressive 54% increase in value over a 24-hour period. TRVL followed closely, achieving a 50% profit, while MYRO recorded a 38.9% gain during the same timeframe.</p>
<h2 class="wp-block-heading" id="blockchain-projects-unlock-fresh-tokens">Blockchain projects unlock fresh tokens</h2>
<p>CryptoRank also reported on <a href="https://www.cryptopolitan.com/blockchain-chronicles-bitcoin-etf-drama/" rel="noopener noreferrer nofollow">blockchain</a> projects unlocking fresh tokens. Games For A Living (GFAL) released tokens valued at $8.24 million, contributing to the dynamic token landscape. Sweat Economy (SWEAT) joined in, unlocking tokens worth $6.23 million. Optimism (OP) also released fresh tokens equivalent to $4.11 million, indicating ongoing developments within the blockchain ecosystem.</p>

The crypto market sees widespread decline as Bitcoin plummets

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