BNB becomes the only coin with positive performance as crypto market bleeds ahead of financial markets opening
Majority of the crypto market is bleeding as BNB remains the only coin in the “green zone”
Binance Smart Chain becomes the only asset left in the green zone as all cryptocurrencies with a capitalization of more than $10 billion are bleeding.
According to CoinMarketCap, Bitcoin, Ethereum and other cryptocurrencies have entered the red zone as the market continues to bleed ahead of the US market opening. As the statistics on CoinMarketCap show, the market has already lost nearly $200 billion in capitalization.
The largest assets in the market, such as Bitcoin and Ethereum, are currently losing from 0.6 to 2.8%, placing them well below anti-rally leaders such as Terra (LUNA) and Avalanche (AVAX).
Luna has lost over 20% of its value in the last 24 hours. While it held the lead as the fastest growing asset during the recent market correction, it fell victim to heightened volatility and reached the price previously observed in November.
Luna also remains the biggest loser in the past seven days, with 34% of its value lost to a market sell-off. Unfortunately for crypto investors, there are no positions in the market this week that showed positive market performance. The only asset with performance that can be considered neutral is BNB, which has not lost or gained value in the past seven days.
Among the biggest losers on the market are coins like Solana, Shiba Inu and Polkadot. The “Ethereum Killer” has lost 25% of its value, reaching $87, while previously trading near $200. A rapid price drop may have been caused by network and transaction processing issues that caused developers to roll out the update to resolve the issue.
At the time of writing, the total cryptocurrency market cap remains at $1.6 trillion, while Bitcoin is trading at $36,260.