Crypto Prices Today: Bitcoin and Altcoins Drop Over 4% Following Silvergate Filing Delay

Crypto Prices Today: The market is trading in red today, as most of the significant coins see a decline. The cryptocurrency markets are abuzz with the news that Silvergate Capital, a bank with a focus on crypto, is experiencing a “crisis of confidence” that has caused it to delay its filing with the U.S. Securities and Exchange Commission (SEC). 

As of writing, Bitcoin price decreases by 4.69% in the last 24 hours. Ethereum price decreases by 4.61%. Crypto prices today for Cardano fell by 5.63%. XRP is down by 3.29%. Solana price dropped by 4.58%. Polygon is down by 4.75%. Polkadot price dips by 5.67%.

The meme cryptos have been seeing a decrease in the last 24 hours. Dogecoin price slashes by 6.66% whereas Shiba Inu price dropped by 5.54%.

The global crypto market cap stands at 1.03 trillion USD, a decrease of 4.38% over the past day. The total crypto market volume in the last 24 hours increased by 14.23% and is currently at 54.38 billion USD.

The top 4 crypto for today are:

1. Bitcoin (BTC) price dips by 4.69%

The world’s largest crypto, Bitcoin decreases by 4.69% in the last 24 hours, thus, taking the market cap to 431.86 billion USD. Each BTC is trading for 22,375 USD. The crypto which was seeing a turnover at the start of the year has been facing a tough few weeks. Trading volume in the last 24 hours is up by 12.70%. The dominance of Bitcoin has decreased by 0.20% compared to the previous day and stands at 42.10%.Source: coinmarketcap

Also read: FTX News: Bankruptcy Lawyers Locate $2.2 Billion Worth of Crypto Assets In FTX Linked Wallets

2. Ethereum (ETH) price dips by 4.61%

The second largest crypto, Ethereum price has fallen by 4.61% in the last 24 hours. The market cap for Ethereum is 292.00 billion USD. Trading volume increases by 36.64% over the previous 24 hours. Each ETH token is trading for 1,568 USD as it sees a tremendous pullout in the last 24 hours.Crypto Prices Today: ETHSource: coinmarketcap

3. Cardano (ADA) price dips by 5.63%

With a drop of 5.63% in the Cardano price during the last 24 hours, the market cap for the crypto is at 11.66 billion USD. Whereas trading volume is seeing a jump of 83.67%. Each ADA token is trading for 0.3366 USD.Crypto Prices Today: ADASource: coinmarketcap

Also read: Silvergate Fallout Triggers Over 5% Correction in the Bitcoin (BTC) Price and Crypto

4. Polygon (MATIC) price dips by 4.75%

Polygon price is seeing a massive dip of 4.75% in the last 24 hours and each MATIC token is trading for 1.16 USD. The market cap for this crypto is currently at 10.15 billion USD. Trading volume is hiking by 25.39% over the last day. Polygon is an Ethereum layer 2 scalability platform and has been rallying with Ethereum in the past month, however, it is seeing a huge drop today.MATICSource: coinmarketcap

Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected] or tweet at Shourya_Jha7