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- Cryptocurrencies aren’t the only recent victims.
- Avalanche’s AVAX token is down just 3% in the previous week.
Black Friday was a bad day for the cryptocurrency market, with most major coins losing significant value. Cardano, Ripple, and Avalanche tokens were down around 7%, 9%, and 11%, respectively. Bitcoin plummeted 8% and Ethereum’s ether token 9%.
Cryptocurrencies aren’t the only recent victims. Investors are fleeing risky assets, and equities were pounded hard. Furthermore, the advent of a new COVID-19 strain may have sparked Friday’s bitcoin market sell-offs, but there are other factors at play as well.
Despite recent sell-offs, Avalanche’s AVAX token is down just 3% in the previous week. Despite the announcement that Deloitte is implementing new software for disaster relief management on top of the Avalanche blockchain. The cryptocurrency’s token price has fallen in line with larger market trends.
According to CoinMarketCap, the Avalanche price today is $115.07 USD with a 24-hour trading volume of $1,051,068,206 USD.
Ripple’s XRP cryptocurrency has fallen around 12.5 percent over the previous seven days without a strong positive recent price driver. Moreover, Ripple is now suing the SEC over whether its XRP coin should be classed as securities. According to CEO Brad Garlinghouse, some progress has been made on the issue, but regulatory ramifications remain a worry.
According to CoinMarketCap, the XRP price today is $0.956278 USD with a 24-hour trading volume of $2,539,530,819 USD.
Cardano’s price per token has dropped around 15% in the previous week of trade. Furthermore, for “business-related considerations in the evolving regulatory environment.” eToro said on Nov. 23 that it will be banning the trading of Cardano’s ADA and TRON’s TRX tokens.
According to CoinMarketCap, the Cardano price today is $1.58 USD with a 24-hour trading volume of $1,660,135,772 USD.