May 30 turned out to be a may-day call for crypto traders, as the Asian trading session began with catastrophic liquidations. In the early hours, liquidations of over $700 million took place with top coins like Bitcoin (BTC), Ethereum (ETH), and Ripple’s XRP beginning to crash.
Even though the crypto market was going down, Bitcoin remained the top trending coin as per CoinMarketCap. While the price change in the aftermath of the crash wasn’t much as at press time, the 24hr change is now merely 1.59%.
Bitcoin Remains at Top of the Trend
Since the Bitcoin hit ATH last week, the price has been constantly going down. From the $111,970 high, BTC price has dropped to $104,000 today. Nearly 5% down from its ATH has not been able to stop bitcoin from remaining in trend among crypto traders. Bitcoin’s popularity can be understood by the transaction flow on exchanges and ETFs, in the month of May BTC ETFs has seen inflows of $9 billion, keeping critics silent.
XRP Grabs Institutional Attention
Meanwhile, XRP also suffered from losses as it dropped by 3%, testing the support level of $2.15. However, positive sentiment entered the market as Hong-Kong based Hasdex listed XRP for its institutional clients today. Nonetheless, the XRP price is yet to make any major movement as it is still trading at $2.20.
Solana Price Tests Key Support
Among the list of top coins, SOL had one of the worst downfalls as it dropped nearly 7% from its daily candle opening. While the price was falling the trading volume surged over 30%, not enough to start a panic sell-off, but sufficient enough for bulls to rethink their position.
Top Trending Coins for Today
- BTC: $104,774.5, dropped by 1.59%
- LPT: $11.45, surged 109.00%
- XRP: $2.19, down by 3.88%
- POKT: $0.06368, skyrocketed by 409.14%
- SOL: $160.66, lost 5.05%
Today’s TOP Gainers
While well-known coins were struggling to hold their support levels, certain alt coins had become volatile and had been posting gains of even 1000%.
The Crypto Market Overview
In the last 24 hours the overall crypto market has gained 1.83% as it stands at $2.57T trillion. However, the crypto market is currently exhibiting “ Greed” sentiment, with Fear and Greed Index at 61. With an overall trading volume of $120.53 billion, bitcoin continues to dominate with 53.1% of market cap share.
Also Read: Crypto Market Crash: $750M In Bitcoin, ETH, XRP Liquidated; Here’s Why
