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Cryptocurrency News Articles
Bitcoin and Ethereum Dip as the Cryptocurrency Market Experiences Slight Declines, While Tether Remains Relatively Stable
Sep 25, 2024 at 09:58 pm
The cryptocurrency market is experiencing slight declines today, with major digital assets like Bitcoin and Ethereum facing downward pressure, while Tether remains relatively stable.
Major cryptocurrencies experienced slight declines on Monday, with Bitcoin and Ethereum facing downward pressure, while the stablecoin Tether remained relatively stable.
Bitcoin (BTC-USD) dropped 0.27%, losing $173.19 to trade at $63,568.83. The largest cryptocurrency by market cap had an eventful weekend, surging past the $64,000 level on Sunday morning before paring some gains later in the day. Bitcoin’s market cap now stands at $1.256 trillion, with a 24-hour trading volume of $29.138 billion. Bitcoin has traded within a 52-week range of $26,111.47 to $73,750.07, reflecting its volatility over the past year.
Ethereum (ETH-USD), the second-largest cryptocurrency, saw a larger decline of 1.26%, down $33.23 to $2,610.47. Ethereum had a strong performance last week, surging past the $2,700 level on Friday morning before pulling back slightly. Its market cap is $314.202 billion, with a 24-hour volume of $15.608 billion. Ethereum’s 52-week range is $1,523.24 to $4,092.28, signaling a significant gap between its highs and lows over the year.
Tether (USDT-USD), the stablecoin designed to maintain a 1-to-1 peg with the U.S. dollar, saw a marginal decline of 0.04%, trading at $0.999583. Tether continues to trade close to the $1 level, serving as a stable asset in the cryptocurrency market. It has a market cap of $119.185 billion and a 24-hour trading volume of $56.347 billion.
Overall, the cryptocurrency market is seeing some modest sell-offs, particularly in Bitcoin and Ethereum, while stablecoins like Tether remain relatively unchanged. Investors are keeping an eye on the broader market sentiment as these assets react to ongoing market factors.
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