Daily Times

The cryptocurrency market turned bearish on Tuesday, with market capitalisation shedding 3.3 percent to reach $2.44 trillion. As of 1100 hours GMT, the largest cryptocurrency Bitcoin’s price went down by 3.61 percent to $49,027. With this decrease in price, the market capitalisation of the biggest crypto has reached $927 billion.

Ether, the world’s second-largest cryptocurrency by market capitalisation, dipped by 3.88 percent to reach $3,902. With this decrease in price, the market capitalisation of ETH has reached $459 billion. Similarly, XRP price shed 3.76 percent to reach $0.886. The market capitalisation of XRP stands at $88.6 billion after this decrease.

On the other hand, Cardano (ADA) price decreased by 6.83 percent to hit $1.48. Its market capitalisation has reached $48.6 billion with this decrease. Similar was the case with Dogecoin (DOGE) whose price went up by 4.65 percent to reach $0.181. With this decrease in price, the market capitalisation of DOGE has fallen $24 billion.

Meanwhile, meme-based crypto token Dogelon Mars, named after Elon Musk, has surged in price this week, on course to dethrone meme-token investor darlings Shiba Inu and Dogecoin. Over the past week, Dogelon Mars has surged in price by nearly 50 percent. In comparison, Dogecoin gained only 11 percent in the last seven days, and Shiba Inu was up 9 percent.

The surge in Dogelon Mars’ popularity among crypto investors was sparked by its inclusion on two major crypto exchanges this week. Huobi, one of the leading crypto trading platforms in the world, announced the token’s listing on Thursday, followed by a similar announcement from Gemini exchange. Dogelon Mars is a dog-themed meme coin hosted on the Ethereum and Polygon blockchains.

Last month, its price increased by a whopping 119 percent following an announcement from its development team on plans to add decentralised finance (DeFi) and staking capabilities to the coin’s architecture.