The cryptocurrency that plummeted amid the fall of the crypto market has been named

The past day has been extremely negative for the entire digital asset industry. In just 24 hours, the market capitalization fell by 6.33%. In turn, bitcoin fell by 7.4%, and some cryptocurrencies lost even more.

Yesterday, bitcoin was trading at $ 29,000. However, last night, the price of BTC fell to $ 25,400, and then to $ 24,800. However, after that, the price of the flagship crypto asset gradually recovered. At the time of writing, BTC is trading at $ 26,404. The market capitalization is $ 513 billion, and traders have made deals worth $ 34.41 billion, which is 110% more than yesterday.

The Crypto Fear & Greed Index fell from 50 to 37 points in just one day. Market analysts explain that this suggests that crypto investors' sentiment has changed from neutral to fearful, as many traders do not know what to expect next.

As for altcoins, the most affected cryptocurrency is. In just one day, the cryptocurrency lost as much as 14% of its value, with its quotes falling to $ 0.5. The total supply of coins circulating on the market amounted to $ 26.6 billion. Daily transaction volumes reached $ 3.11 billion.

In addition, Litecoin (LTC) has fallen significantly in price. Cryptocurrency quotes fell by 13.15% during the reporting period. A virtual coin can be purchased for an average of $ 65.22. The total supply of LTC amounted to $ 4.79 billion.

However, among the top 100 cryptocurrencies, there was only one that managed to rise in price despite the negative trend of the global market. We are talking about Injective (INJ) — the value of the asset increased by 5.75% and reached $ 7.58. This allowed the digital currency to climb to the 54th place in the list of the best with a capitalization of $ 634.67 million.

As a reminder, at the July meeting of the Central Bank, the Fed raised its benchmark interest rate to the highest level in 22 years. Now the markets are hoping that the US Central Bank will not change these figures again, at least until the end of 2023. The consequences were immediate — the stock market fell for the second day in a row.

During the industry turmoil, long positions worth about $ 823 million were liquidated, resulting in significant losses for traders who were betting on rising crypto prices. The hardest hit were the owners of BTC $82,756.55 Bitcoin -0.53% Market capitalization $1.64 trillion VOL. 24 hours $2.51 billion , who lost $ 488 million, followed by traders of ETH $1,810.53 Bridged Ether (StarkGate) -0.09% Market capitalization $0.16 billion VOL. 24 hours $1.01 billion , who lost a total of $ 303 million.