As we reported at Kriptokoin.com, the Federal Reserve’s 25 basis point interest rate cut announcement caused fluctuations in the cryptocurrency market. Therefore, Bitcoin (BTC) fell below $ 99,000, while Ethereum (ETH) and XRP lost 6% and 10% respectively. In addition, Solana (SOL) followed this general downtrend with a 5% drop. This situation in the market led investors to re-evaluate their strategies. However, especially large investors and institutional firms began to discuss how they would be affected by these fluctuations.
Leading Cryptocurrency Bitcoin and Ethereum
Bitcoin fell 4% in the last 24 hours to $100,880. Similarly, the daily low and high values were recorded as $98,874 and $105,389, respectively. As a result, Bitcoin’s market value is at $2 trillion, while its trading volume exceeded $100 billion. On the other hand, according to SoSo Value reports, there was a total outflow of $84 million from Bitcoin ETFs on Wednesday. Grayscale led this outflow with $35 million, while Invesco reported an outflow of $25 million. However, BlackRock’s data has not yet been released.
Ethereum was trading at $3,652, down 6%. In addition, its daily low was $3,543 and its highest was $3,902. ETH’s market value reached $440 billion, while its trading volume was $52 billion. In this direction, Bitwise CIO Matt Hougan drew attention by saying, “I think Ethereum will surpass Solana in 2025.” Therefore, this prediction increased the interest in the developments in the Ethereum and Solana networks.
XRP, Solana and Meme Coins Drop
Solana was trading at $209, down 5%. In addition, its daily low was $200 and its high was $218. Despite this decline, the network’s growth reached new heights, while activity in the ecosystem remained vibrant. XRP, on the other hand, fell 10% to $2.32. Apart from this, its daily low was $2,184 and its high was $2,585. In addition, Ripple took a new step in the stablecoin field by launching its stablecoin called RLUSD.
In addition, meme coins were also affected by this decline. Dogecoin fell by 7% to $0.36, while Shiba Inu lost 6% to $0.00002425. On the other hand, coins such as PEPE and FLOKI experienced losses between 12% and 15%.
Winners and Losers in the Cryptocurrency Market
Usual (USUAL) was the biggest gainer of the day, rising 23% to $1.02. Additionally, Movement (MOVE) rose 14% to $0.70. Pudgy Penguins (PENGU) gained 8% after news of its Binance listing.
However, among the losers, WIF fell 14% to $2.26, FLOKI fell 13% to $0.00019, and Theta Network fell 12% to $2.32.
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