KEY POINTS

  • Ether's market dominance dropped to 18.89%
  • The biggest gainers included SPELL, MKR and FLUX
  • The worst performers included HNT, CRV and OP

The crypto market turned red Wednesday with almost every cryptocurrency dropping significantly. Leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) dropped 3.94% and 5.91%, respectively.

According to CoinMarketCap data, BTC and ETH failed to hold above respective resistances present at $23,000 and $1,700, respectively. The prices of these cryptocurrencies as of 12:23 a.m. ET were $22,898 and $1,673, respectively. Moreover, the market dominance of BTC remained at 40.46% while that of ETH dropped to 18.89%.

The top 10 cryptocurrencies turned bearish with Binance Coin (BNB) down by 2.08% to $315.56; Ripple (XRP) down by 4.04% to $0.3622; Cardano (ADA) down by 4.95% to $0.5086; Solana (SOL) down by 7.13% to $39.40; and Polkadot (DOT) down by 6.20% to $8.64.

The best performers for the day as of 12:26 a.m. ET included XDC Network (XDC) up by 1.22% to $0.03315; Pax Gold (PAXG) up by 0.46% to $1,787; Nexo (NEXO) up by 6% to $0.825; Flux (FLUX) up by 2.79% to $0.6607; Spell Token (SPELL) up by 27.70% to $0.001526; and Dao Maker (MKR) up by 3.57% to $1.98.

The worst performers for the day as of 12:29 a.m. ET included Helium (HNT) down by 10.11% to $8.38; Curve Dao Token (CRV) down by 10.34% to $1.27; Optimism (OP) down by 11.62% to $1.69; WOO Network (WOO) down by 10.76% to $0.2346; and Immutable X (IMX) down by 12.30% to $1.09.

Analysts have pointed to financial risks and energy goals as reasons behind China's crypto clampdown
Analysts have pointed to financial risks and energy goals as reasons behind China's crypto clampdown AFP / INA FASSBENDER
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