Crypto Price Update: BTC Drops to $65.7K Amid Union Budget 2024 Unveiling
On the 24th of July, 2024, the cryptocurrency market was both; stable and unstable. In this period, most cryptos’ value slightly decreased; however, some significant changes occurred in altcoins such as Doge and Shiba. Let’s take a closer look at the specific characteristics of the selected cryptocurrencies’ performance and market capitalization below.
Bitcoin (BTC)
Price: $65,709. 86
24-Hour Change: -1. 40%
24-Hour Volume: $36. 81B
Market Cap: $1. 30T
Category: Currency
Bitcoin remains to be the market leader although it boasts of a massive market capitalization of $1. 30 trillion. Despite reducing its stake by 40% it remains highly competitive. With a daily trading volume of $36 Billion. Engagement involves transacting on the market thereby showing that 81 billion is an indicator of active participation in the markets. While looking at the new rates of different cryptocurrencies, the further focus is still adequately applied to the rate of bitcoin in the setting of cryptocurrencies rates.
The reaction of investors and market participants to the Union Budget 2024 has been reflected in the price movements of Bitcoin. Volatility in cryptocurrency prices often intensifies during periods of significant economic announcements, as investors recalibrate their positions based on new information and forecasts.
Ethereum (ETH)
Price: $3,433. 27
24-Hour Change: -0. 19%
24-Hour Volume: $25. 27B
Market Cap: $412. 80B
Category: Smart Contract Platform
Smart contracts, Ethereum, which is the second largest cryptocurrency, also fell by a mere 0. 19% in its price. Ethereum with market capitalization of $412. 80 billion and a trading volume in 1 day equal to 25 billion dollars. Yet, it holds the 27 billion market cap position, functioning as one of the leading platforms, especially for smart contracts. Crypto news discusses the solidity of Ethereum during the volatile cryptocurrency prices.
BNB (BNB)
Price: $581. 42
24-Hour Change: 0. 12%
24-Hour Volume: $919. 20M
Market Cap: $89. 45B
Category: Smart Contract Platform
BNB had a mild positive movement of a figure 0.12%, their market capitalization is $89. 45 billion. Among the coins that have not lost their leading position in the section of smart contracts, we can mention Binance’s native token, whose trading activity is $919. 20 million. This crypto price movement is a sign of capital continuing to flow to Binance’s ecosystem.
Solana (SOL)
Price: $172. 60
24-Hour Change: -0. 90%
24-Hour Volume: $1. 93B
Market Cap: $79. 88B
Category: Smart Contract Platform
A stablecoin linked to the USD also surged in popularity; Solana, popular for its capability of handling a large number of transactions at very low fees also rose by 0.90% decrease in price. Its market capitalization is about $ 79. 88 billion and its daily traded value is one billion US dollars. 93 billion indicating that people continued to show interest in the company’s platform. The volatility of crypto rates defines Solana’s place according to the rates of the rest cryptocurrencies.
XRP (XRP)
Price: $0. 59805718
24-Hour Change: -0. 25%
24-Hour Volume: $662. 28M
Market Cap: $33. 30B
Category: Currency
XRP experienced a 0. ONE ½ reduction of price to 25% with a total market capitalization of $33. 30 billion. Its 24-hour trade volume is $662. 28 million proves the fact of constant trading activity even after the existence of new problems in the sphere of regulation. This usually depicts Ripple and its success as resistant to fluctuating cryptocurrency prices due to the nature of such news concerning XRP.
Dogecoin (DOGE)
Price: $0. 13005657
24-Hour Change: -3. 14%
24-Hour Volume: $1. 11B
Market Cap: $18. 89B
Category: Currency
Cryptocurrencies such as Dogecoin had their values plunged by 3. 14% in its price. In terms of the market capitalization, this organization’s market cap is $18. 89 billion, while traded volume is $1 billion. At the current market capital of $11 billion, it is still favored by retail traders and meme coins’ supporters. This decrease is rather true to the extent that it is influenced by trends that determine crypto prices and the current overall cryptocurrency price trends.
Toncoin (TON)
Price: $6. 90
24-Hour Change: – 0
24-Hour Volume: $269. 81M
Market Cap: $16. 98B
Category: Smart Contract Platform
Toncoin has not experienced any major fluctuation in price today but at a market cap of $16. 98 billion and a trading volume of $269. 81 million. This is a clear indication that more and more entities are applying its use. While commemorating updated crypto news, it is essential to notice that the current rates of today’s cryptocurrencies feature Toncoin as quite stable.
Cardano (ADA)
Price: $0. 40770821
24-Hour Change: -2. 99%
24-Hour Volume: $372. 91M
Market Cap: $14. 50B
Category: Smart Contract Platform
Cardano experienced a 2. 99% decrease in price. The first one’s market cap value of $14 as of the end of the previous year was equally impressive. 50 billion, the trading volume reaches $372. 91 million, it is still expanding its ecosystem based on scalability and sustainability factors alike. Fluctuations in the value of cryptocurrencies are very useful in establishing the volatility typical of cryptocurrencies.
Tron (TRX)
Price: $0. 13380672
24-Hour Change: 1. 72%
24-Hour Volume: $352. 33M
Market Cap: $11. 66B
Category: Smart Contract Platform
Tron had a positive price manipulation of 1. 72%, reflecting investor confidence. Its market capitalization stands at $11. 66 billion, the trading volume being $352. 33 million of its quantity, which shows that the token is actively being used in decentralized applications. This rise in crypto prices could be seen in contrast to other markers and as a look into the current movement of cryptocurrency prices.
Avalanche (AVAX)
Price: $28. 51
24-Hour Change: -7. 59%
24-Hour Volume: $546. 17M
Market Cap: $11. 25B
Category: Smart Contract Platform
This strategy proved less popular, causing Avalanche’s sales to drop by 7. 59% in its price. It has a market cap of $11 billion and a trading volume of 54. 6 billion. Thus, despite having a daily trading volume of $17 million, it still plays an important role in the smart contract and decentralized finance industries. In the news today, it is expressed that many cryptocurrencies have had a significant drop in their price, which is also considered to be rather volatile in recent times.
Conclusion
Analyzing the cryptocurrency market as of July 24, 2024, it is possible to identify the trends of stability and fluctuations in the benchmark digital currencies’ value. Indeed, while big coins such as Bitcoin and Ether go down slightly others, like Tron, go up.
