Crypto Price Update June 7: Bitcoin Drops to $68k, ETH Dips to $3,600, XRP and Dogecoin Crash

Why did the crypto market crash today? The global crypto market has experienced a very sharp decline in one hour as over $300 million gets liquidated within this time. At the time of writing, the total crypto market cap has dropped by 3.9% to $2.53 trillion.

The trading volume however has surged by 43% to $103 billion according to data from CoinMarketCap. Stablecoin trading volume makes up more than 94% of the total trading volume. In this post, we will focus on the prices of top coins like Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin. Let us take a look.

Top Crypto Price Update

The price of Bitcoin (BTC), the flagship cryptocurrency, has dropped by 2.75% over the last 24 hours to trade at $68,154. Additionally, its trading volume within the recorded time has surged by 48% to $36.6 billion. Bitcoin has traded between the lows and highs of $68,856.25 and $71,931.28 in the last 24 hours with a live market cap of $1.36 trillion.

On the altcoin front, the price of Ethereum (ETH) has plummeted by 3.87% in the last 24 hours, changing hands at $3,692. Just like BTC, the 24-hour trading volume of ETH has jumped by 39.95% to $18.3 billion with a live market cap of $443.5 billion. Notably, ETH has traded within the range of $3,642.09 – $3,844.40.

Trending coin XRP has joined the nosedive according to the latest data. The price of XRP at the time of writing is $0.49, representing a 5.87% drop over the last day. XRP’s trading volume has skyrocketed by 100% within this time to $2.3 billion. Also, XRP has changed hands between $0.4762 and $0.5281 in the last 24 hours.

Leading the memecoin market, the price of Dogecoin (DOGE) has crashed by 9.11% to trade at $0.14. Interestingly, the trading activity surrounding DOGE has frown by 78% to $1.5 billion following heightened whale activities over the last day. DOGE has sold between $0.146 and $0.1621 in the last 24 hours representing a 79.7% decline from its all-time high of $0.73 reached in May 2021. Dogecoin has recorded the most losses among the top 10 cryptocurrencies by market cap.

Other coins like Shiba Inu (SHIB) and Binance Coin (BNB) have plummeted by 5.95% and 3.09% to trade at $0.00002366 and $677 respectively. This recent sharp bloodbath in the crypto market has raised concerns about the possible reason behind the crash.

Top Trending Gainers

Meanwhile, while the majority of the coins in the market are trading in the red zone, some tokens are recording impressive gains. Some of these tokens are;

Ponke (PONKE), a novel digital gaming asset created on the Solana network, has skyrocketed by 18% to trade at $0.43.

Ultiverse (ULTI), an AI-based gaming token has grown by 7.6%, changing hands at $0.06.

Highstreet (HIGH), the native token of a decentralized commerce-centric play-to-earn metaverse, has jumped by 18.12% to $8.48.