BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LEO, AVAX

The sharp fall in cryptocurrencies has pulled the overall crypto market capitalization under $900 billion. In line with CoinGoLive, 72 out of the highest 100 tokens have declined in extra of 90% from their all-time highs. As compared, the top-10 cash have outperformed through the fall, dropping a median of 79% from their all-time excessive. 

Bitcoin (BTC) is down greater than 70% from its all-time excessive however the bulls are struggling to arrest the decline. Jurrien Timmer, director of world macro of Constancy, highlighted that Bitcoin might be “cheaper than it seems to be” contemplating the metric of price-to-network ratio, which is analogous to the price-to-earnings ratio used within the equities market to worth a inventory.

Each day cryptocurrency market efficiency. Supply: Coin360

Billionaire investor Mark Cuban mentioned in an interview with Fortune that initiatives with out legitimate enterprise prospects will vanish as bear markets have a cleaning impact available on the market. Nonetheless, he added that innovation within the crypto sector is more likely to proceed through the market downturn.

Might Bitcoin and main altcoins maintain their respective help ranges? Let’s examine the charts of the top-10 cryptocurrencies to seek out out.