Cardano loses its coveted 'third' place as the crypto market struggles to fight the slump

Sep 29, 2021

By: BI India Bureau

There no big swings in the crypto market today

Credit: Business Insider India

Despite the doldrums, there are two cryptocurrencies are trying to climb their way through the FUD

Binance Coin, which powers the Binance crypto exchange, and Solana, the newest kid on the block looking to conquer decentralised finance (DeFi)

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Binance Coin is at $344.90

It is up by 2.8 percent in the last 24 hours

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Solana is worth $139.41 apiece

Also up by around 2.8 percent since yesterday

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Bitcoin price analysis

Bitcoin's value is dependent on its supply and the demand for it. Beyond that, the cryptocurrency's availability and rewards for mining also has an impact.

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With Cardano's price at $2.12, Tether has managed to snatch its rank

The stablecoin has a market cap of $68.48 billion versus Cardano’s $67.98 billion

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Bitcoin, the largest cryptocurrency on the market, has barely budged

The coin is worth $42,455, up by 1.19 percent in the last 24 hours

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Ethereum, the leading contender in the DeFi space, remains below $3,000

The cryptocurrency is trading at $2,929 despite having gained a percent since yesterday

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XRP is stuck below the $1 mark

It's currently worth $0.93, which is only 0.21 percent higher than yesterday

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Polkadot’s price is $27.79

Up by 1.52 percent over the last 24 hours

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Dogecoin is worth $0.2008

The meme coin is in the green as compared to yesterday but is trading lower than a week ago

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Disclaimer

These are top cryptocurrencies by volume according to CoinMarketCap | Prices updated as of September 29, 12 pm IST and may change over the course of the day

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