Digital assets have taken a downhill journey in recent weeks with investors keeping an eye out for crypto to sell amid losses. The fall of Bitcoin (BTC) below $62,000 led to larger negative sentiments amongst others. These events heightened selloffs as nearly 60,000 trades got liquidation. Overall, outflows were seen in spot Bitcoin ETFs, meme coins, and decentralized finance (DeFi) volumes.
Daily trading volumes are at $72.2 billion while the market cap tanks as crypto assets record doubt digit losses. In the shadow of previous market gains, investors seek to offload certain assets to prevent losses and also switch short-term positions. Here are four crypto to sell as sentiments plunge.
Ethereum (ETH)
Ethereum joins the list of crypto to sell for some users because of recent outflows although others look to future positives. In the last 24 hours, Ethereum plunged 5% to trade at $3,306 amid longer-term outflows. Weekly positions are also down 5% while the last 30 days marked an 11% decline. These exits wiped off gains recorded with the spot Ethereum ETF anticipation that saw its price soar 22%.
BNB
Binance Coin trades negatively like other assets as the bearish sentiment bites harder. BNB exchanges hands at $557 falling 4.28% in the last 24 hours while weekly outflows surged 8%. BNB trades negatively as volume and on-chain activity plummet marking bullish exits. At press time, the market cap dropped to $82.6 billion with volumes at $1.9 billion.
Some users view BNB as a crypto to sell as the lot drifts away from its all-time high above $720 this month.
Cardano (ADA)
The community dubbed ETH-killer has faced massive outflows as it trades alongside the market. ADA is down 4% today and posts a 10.9% weekly decline. Monthly downtrends can also be seen in the asset’s price as a part of gains are wiped out. ADA price fell to $0.3702 taking its market cap downward to $13.2 billion.
Shiba Inu (SHIB)
Meme coins have fallen more than other asset classes due to their volatility. SHIB price crashes 6% to $0.00001663 with longer-term exits. According to data from CoinGecko, daily trading volumes stand at $329 million while its market cap plummeted to $9.7 billion.
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