Cryptocurrency inclined readers may have noticed a slump as markets began to withdraw from the notable triumphs witnessed last Thursday. The much-loved digital currency, Bitcoin, saw a slight dip of around 2% in the last 24 hours. Trading around $29,679 at its lowest on Monday afternoon, it mustered a modest bounce back, hovering around the $29,900 mark.
But the winds haven’t been entirely favorable for Ethereum too, the popular runner-up in the cryptocurrency race. Ether‘s value was seen slightly stuttering at $1,880, marking an approximately 2% decline in value in the same 24 hours.
If you’ve been eying the smaller digital fish in this vast cryptocurrency sea, they’ve been riding rough seas recently. It appears that the altcoin sector is facing a more significant retreat than their larger counterparts.
Ripple’s XRP was a major topic of conversation this week, following a partly favorable court ruling involving the US Securities and Exchange Commission. This had led the token to spearhead Thursday’s swift rise. However, it seems to have lost its footing, slipping around 5.4% in the last 24 hours.
The tale doesn’t get any brighter for SOL and XLM, the native tokens of the popular Solana and Stellar networks. Both tokens have witnessed a downtrend of more than 5% in the same span.
However, worst hit seem to be investors who’ve placed their bets on LDO, the governing token of liquid staking protocol Lido Finance. The token has taken quite a tumble, nosediving almost 12%.
While this brings an air of skepticism towards the volatile nature of these digital assets, remember, the investment ride isn’t always smooth. The market’s volatile ripple is natural and part of the thrill. Not every coin flips in favor, and perhaps, this recent decline gives an opportunity for investors to reflect, reconsider, and potentially reinvest wisely.
Source: Coindesk
