On its third day of devaluation, the price of Bitcoin (BTC) opened down 2.1% this Thursday (25), according to CoinGecko. With the fall, the cryptocurrency is valued at US$ 26,225, or R$ 130,100 in current values.
Among all top 10 cryptocurrencies, only MATIC opened the day with gains of 1.2%, while BTC posted the second biggest drop. Who led the ranking losses was Cardano (ADA), which fell 2.4% throughout the day. Ethereum ecosystem tokens – stETH and ETH – are down 1.7% and Dogecoin (DOGE) is down 1.1%, as is XRP.
Finally, the market value of cryptocurrencies fell by 1.3% and reached US$ 1.14 trillion, or R$ 5.7 trillion, with a volume of US$ 41.5 billion (R$ 205 billion). BTC dominance dropped to 44.2% and ETH stood at 18.7% for a total of 62.9%.
Unknown token triples in value
Relative to the Top 100, Synthetix (SNX) lost 10.9% and recorded the biggest drop of the day, followed by KAVA (8.5%) and STX, with losses of 5.8%. The valuations were also expressive, with emphasis on two cryptocurrencies: Render (RNDR) rose 9.1% in the last 24 hours.
However, the main highlight was the marumaruNFT token (MARU), which recorded strong gains. According to CoinGecko, the token has appreciated by almost 30% in a few hours and totals an appreciation of 207% in the last seven days – a MARU is worth about R$ 1.20 in current values.
The MARU token was created on the BNB network and feeds the marumaruNFT, an NFT trading platform. However, there is no clear explanation as to why the token rose so significantly.
While MARU registers a strong increase, BTC continues in a bearish trend within the market. According to Bitget’s analysis team, the market is waiting for how the price will behave against the support of $25,000.
“BTC is close to reaching the most important support of this 2023 uptrend, $25k. If it holds there, it could push BTC above $30K in June/July. Important point to keep an eye on”, said Fernando Pereira, Content Manager at Bitget.
Futures and Settlements
The expectation with new corrections in BTC led futures and liquidation volumes to register new highs. According to Coinglass, futures grew 27% and reached $76.4 billion. Binance leads the ranking with a volume of US$ 16 billion and OKX comes in second with US$ 5 billion.
Liquidations, on the other hand, were up an impressive 78% and reached a total of $118.4 million, most of which came from long positions ($93 million).
In total, 43,544 traders were liquidated in the last 24 hours, with the largest position being on Bybit, which caused a liquidation of $2.93 million.