Dogecoin gained more than 4% as Tesla CEO tweeted about the new use case for the meme coin. However, each asset in the crypto space exhibited downside tendencies.
Tesla executive Elon Musk declared that individuals could use Dogecoin to purchase SpaceX merchandise. Though Dogecoin responded with an uptick, the surge wasn't substantially as it happened when Musk hinted at DOGE payments for Tesla merchandise. Dogecoin gained over 4%, lower than 18% from the past announcement.
Other news had the 3rd-largest crypto, Tether, using India's Polygon blockchain to launch its stablecoin. Tether CTO Paolo Ardoino said that launching USDT on Polygon will offer the MATIC community admittance to the most stable, trusted, and liquid stablecoin within the crypto world. He added that the Polygon blockchain saw impressive growth in 2022, and Tether can help it keep thriving.
Bears still control the cryptocurrency market. While publishing this blog, the cumulative value of all cryptocurrencies stood near $1.19 trillion, dropping by 0.87% within a day. On the other hand, the total crypto volume declined by 13.35% to $88.97 billion (Coinmarketcap data).
Crypto Prices
Bitcoin, the world's dominant digital coin, stood at $28,642, 1.17% down from the previous day. Ethereum continued sliding, dropping 1.76% to $1,727.01. Among other large-cap. Cardano traded 2.65% down to $0.4501, Algorand lost 2.71% to $0.3578, Solana hit $40.66 following 4.28%. Also, Binance Coin and Polkadot lost 0.96% and 0.97% to $297 and $9.02, respectively.
Sportoken (SPT) led the gainers today, following a 270.78% to $0.0000375. Sweet SOL (SSOL) was the top loser, surrendering 97.05% to $0.000001171.
Meme Coins & DeFi Prices
Dogecoin gained more than 4.30% to hover at $0.08123. Its market cap to volume ratio hovered at $0.1198. The competitor Shiba Inu gained 0.62% to $0.00001056. Another uptick came from Dogelon Mars, surging 6.12% to $0.000000442. Nevertheless, Samoyed Coin dropped 2.99% to $0.005026, and Floki Inu's 8.05% decline placed it at $0.000008429.
The DeFi space presented losses. yearn.finance declined by 5.13% to $7,395.93, while Terra Classic (LUNC) lost 7.34% to $0.0001226. Avalanche changed hands near $22.44 after a 2.33% loss, Uniswap was trading at $4.67, a 4.2% dip, and Aave's 5.12% slide had it at $92.05.
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