Cryptocurrency markets saw a sharp drop on Tuesday, October 10, as investors grew increasingly concerned about geopolitical unrest. Cryptocurrency markets have been falling since the past day, with global stock markets seeing modest declines and oil prices rising amid renewed unrest in the Middle East.
The conflict between Israel and Hamas entered its third day on Monday, with concerns over the potential impact of the war weighing on oil prices. Investors appeared concerned about potential supply disruptions in the coming days.
Meanwhile, as of writing, Bitcoin prices have fallen 1.21% over the past 24 hours to $27,607.08, while daily volume has risen 56.41% to $12.1 billion. These losses have wiped out the cryptocurrency’s recent gains and put its weekly performance close to flat.
On the other hand, Ethereum price fell 3.12% to $1,584.26, and trading volume soared 115.65% from yesterday to $7.25 billion. Meanwhile, XRP price plummeted 3.86% to $0.4993, and trading volume soared 142.67% to $989.86 million.
In the memecoin space, Dogecoin fell 3.33% to $0.05894, but trading volume increased 172.91% to $251 million in the past 24 hours. In addition, Shiba Inu fell 3.72% from yesterday to $0.000006937, and its daily trading volume increased 104.95% to $116.75 million.
Losses in most major cryptocurrencies led to an overall market decline on Tuesday. As of this writing, the global cryptocurrency market capitalization is down 1.81% from yesterday to $1.07 trillion. Market volume, meanwhile, rose 59.54% to $28.94 billion. Notably, the cryptocurrency market’s Fear and Greed Index remains at 43 at the time of writing.
Today’s top 4 cryptocurrencies are:
Pepe Coin falls 6%
As of the time of writing on Tuesday, the Pepecoin price fell 6.13% to $0.0000006659, while its trading volume rose 34.04% to $47.38 million. The memecoin has been struggling to maintain its upward momentum in recent days, as evidenced by its price decline. Over the past seven days, the cryptocurrency’s price has fallen by about 10%.
Tezos (XTZ) up 6%
Despite the overall market downturn, the recent rise of the Tezos cryptocurrency has attracted investors’ attention. At the time of writing on Tuesday, the price of Tezos rose by 5.96% to $0.72, and the trading volume increased by 749.75% from yesterday to $82.93 million.
Evening dress 8%
As of this writing, Gala’s price has dropped 7.63% in the past 24 hours and is trading at $0.01333, making it one of the lowest volatile coins on October 10. Its trading volume has surged 52.11% to $41.67 million in the past 24 hours. Although there has been no recent news regarding its decline, the negative sentiment in the market seems to be dragging down the cryptocurrency’s price.
Woo Network (WOO) fell 7%
At the time of writing, Woo Network’s price is down 7.31% to trade at $0.1655, while its market cap is down 7.13% from yesterday to $291.11 million. The broader market’s decline appears to have triggered the cryptocurrency’s price drop on Oct. 10.
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