The cryptocurrency market stays in decline on Tuesday as investors express renewed concerns amid ongoing geopolitical turmoil.
The cryptocurrency market experienced significant losses on Tuesday, October 10, as investors grew increasingly worried about ongoing geopolitical turmoil. The crypto market has been in a downturn over the past day, with global equity markets also seeing moderate declines. This is happening alongside rising oil prices due to renewed turmoil in the Middle East.
The Israel-Hamas conflict entered its third day on Monday, and concerns about the potential impact of the war on oil prices are affecting investor sentiment. There are worries about potential supply disruptions in the coming days.
Bitcoin’s price slipped by 1.21% over the past 24 hours to $27,607.08 at the time of writing. Its one-day volume increased by 56.41% to $12.10 billion. Ethereum’s price declined by 3.12% to $1,584.26, with its volume surging by 115.65% to $7.25 billion. XRP’s price plummeted by 3.86% to $0.4993, and its volume increased by 142.67% to $989.86 million.
In the meme coins category, Dogecoin’s price fell by 3.33% to $0.05894, and its volume rose by 172.91% over the last 24 hours to $251 million. Shiba Inu’s price also declined by 3.72% to $0.000006937, with a one-day volume increase of 104.95% to $116.75 million.
The losses in most major cryptocurrencies have dragged down the overall market on Tuesday. As of the time of writing, the global crypto market cap had fallen by 1.81% from the previous day to $1.07 trillion. The market volume increased by 59.54% to $28.94 billion. Notably, the crypto market’s fear and greed index remained at 43 during this time.
Today’s Top 4 Cryptos Are:
1. Pepe Coin Down 6%
Pepe Coin Chart
Pepe Coin’s price dropped by 6.13% to $0.0000006659 at the time of writing on Tuesday. However, its trading volume increased by 34.04% to $47.38 million. The meme coin has been struggling to maintain upward momentum in recent days, resulting in price declines. Over the past week, it has lost around 10% of its value.
2. Tezos (XTZ) Up 6%
Tezos Crypto Chart
Despite a market slump, Tezos (XTZ) has attracted investor attention with recent gains. Tezos’ price increased by 5.96% to $0.72 during writing on Tuesday. Its trading volume from the previous day saw a significant jump, rising by 749.75% to $82.93 million.
3. Gala Down 8%
Gala Crypto Chart
Gala’s price declined by 7.63% over the last 24 hours, reaching $0.01333 at the time of writing on October 10. Despite no recent news explaining the drop, it appears that negative market sentiment has weighed down on the crypto’s price. Its trading volume over the last 24 hours increased by 52.11% to $41.67 million.
4. Woo Network (WOO) Falls 7%
Woo Network Chart
Woo Network’s price fell by 7.31% at the time of writing, trading at $0.1655. Its market cap also decreased by 7.13% from the previous day to $291.11 million. The broader market’s decline seems to have contributed to the crypto’s downturn on October 10.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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