Crypto Prices Are Down in Last 24 Hours as Month-End Approaches

Top 10 cryptos by market cap are all down in the last 24 hours as we head towards the end of the month according to CoinMarketCap.

The last 24 hours have been full of price drops for the biggest cryptocurrencies in the market, with some stablecoins even dipping slightly.

The leader of CoinMarketCap’s largest cryptos by market cap, Bitcoin, is down 5.29% in the last 24 hours – taking its price down to around $38,422 at the time of writing. The coin has also been down over the last week at -6.99% in the last 7 days.

Second on the list, Ethereum, is down 5.21% in the last 24 hours. Similar to Bitcoin and the rest of the top 10 cryptos, Ethereum’s 24-hour price dip is accompanied by a weekly price fall.

As can be seen from the snapshot above, the prices of the rest of the cryptos on the top 10 list all experienced a 24-hour fall. Dogecoin leads the way in the top 10 list with a 9.71% price decrease. This could be because the news of Elon Musk’s acquisition of Twitter may be simmering down.

USD Coin, the second biggest stablecoin by market cap, is also down by 0.04% in the last 24 hours. Another stablecoin that is down in the last 24 hours is Terra USD (UST). Ranked number 15 on CoinMarketCap’s list, UST is down 0.14%.

The fall in prices could be attributed to month-end approaching and people cashing out their crypto to pay their monthly expenses.