The total market capitalization of the cryptocurrency markets stood at USD 131.4 billion down ~USD 2 billion over the previous 24 hours according to Coinmarketcap data.
A look at the crypto market visualization by Coin360 reveals the extent of the losses. Binance Coin (BNB) which has had a remarkable rise recently – almost doubling in price in the last month- came under heavy selling pressure possibly driven by profit-taking.
Ether (ETH) had similar price action to Bitcoin(BTC) but its correction was much sharper. ETH hovered around $137-138 for most of the day rallying to as high as $139.50 before correcting by over 5% from its intra-day peak to trade at $132.70. Like Bitcoin, Ethereum has also struggled to overcome the stiff resistance at $140 recently.
The cryptocurrency which had been notching up stellar gains in the past few weeks- Binance Coin (BNB) suffered a major correction and was trading at $13.86 down close to 9% for the day.