<\/p>\n
Matic was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos and with Ether falling below US$1,600. Despite Bitcoin\u2019s sluggish price action, industry experts say that institutions continue adopting the world\u2019s first cryptocurrency.\u00a0<\/p>\n
See related article:<\/em><\/strong> Weekly Market Wrap: Deutsche Bank\u2019s crypto move propels Bitcoin to US$26,750<\/a><\/p>\n Polygon\u2019s Matic token was the biggest loser in the top 10 cryptos, falling 2.2% in the 24 hours leading up to 4:30 p.m. in Hong Kong, to US$0.524. The last time Matic was trading at these levels was over a year ago in July 2022.<\/p>\n Bitcoin, the world\u2019s first cryptocurrency, fell 1.03% in the past 24 hours to US$26,688, remaining under the US$27,000 support level since yesterday.<\/p>\n Despite Bitcoin\u2019s lagging price action, institutional adoption continues to grow with notable companies like Square and Japan\u2019s Nomura Bank, according to Manuel Ferrari, the co-founder of Money On Chain, the first Bitcoin-backed stablecoin protocol on Rootstock.<\/p>\n \u201cThis trend suggests that established entities are recognizing Bitcoin as a store of value or an investment asset. Their involvement not only contributes to the current transaction volume but also signals confidence in Bitcoin\u2019s future potential,\u201d Ferrari told Forkast.<\/em><\/p>\n Ether, the world\u2019s second-largest cryptocurrency, fell 1.28% to US1,597. The coin dipped to a weekly low of US$1,573, after losing the US$1,600 support level earlier today.<\/p>\n The total crypto market capitalization over the past 24 hours fell 0.91% to US$1.06 trillion while market volume increased 3.20% to US$28.54 billion, according to CoinMarketCap<\/a> data.<\/p>\n The Forkast 500 NFT index<\/a> fell 1.46% in the past 24 hours to a new all-time low of 1,998.68 points.\u00a0<\/p>\n Solana<\/a> remained the second-largest blockchain network by 24-hour NFT sales volume, after sales rose 29.26% to US$1.36 million, boosted by a 46% sales increase in the Reavers collection that generated US$464,648 for the network, according to CryptoSlam<\/a>.<\/p>\n Despite the stronger sales figures, the Forkast SOL NFT Composite<\/a> fell 1.73% during the day.<\/p>\n Over on Ethereum<\/a>, sales for the Bored Ape Yacht Club<\/a> (BAYC) rose 184.35% in the past 24 hours to US$632,770. NFT sales on Ethereum rose 26.34% to US$5.76 million, also boosted by a 28.46% sales increase in the Sorare collection.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Matic was the biggest loser in the top 10 cryptocurrencies by market capitalization, falling alongside most other cryptos and with Ether falling below US$1,600. Despite Bitcoin\u2019s sluggish price action, industry experts say that institutions continue adopting the world\u2019s first cryptocurrency.\u00a0 See related article: Weekly Market Wrap: Deutsche Bank\u2019s crypto move propels Bitcoin to US$26,750 MATIC […]<\/p>\n","protected":false},"author":2,"featured_media":160850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-160849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=160849"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160849\/revisions"}],"predecessor-version":[{"id":160852,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160849\/revisions\/160852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/160850"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=160849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=160849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=160849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}MATIC biggest loser among top 10 cryptos<\/h3>\n
Solana remains second-largest blockchain by daily NFT sales volume; BAYC sales surge 184%<\/h3>\n