Bitcoin falls 3.7%, ether 3.5% in 24 hours in reais

Bitcoin fell 3.7% and ether 3.5% over 24 hours, priced in Brazilian reais, according to Binance and CoinGecko. Among the major coins RaisLife tracks, the two led the decline on a day when prices were mostly lower. Some coins outside that group fell even more.

Bitcoin and ether in the red

Bitcoin traded at R$389.140, down from R$404.005 a day earlier. Over that window it reached a high of R$405.771 and a low of R$383.777. Trading volume on Binance totaled R$73.516,340.47, a figure that covers Binance only, not the whole market.

Ether slipped from R$11.397.21 to R$11.001.08, with a high of R$11.469.41 and a low of R$10.772.07. Among the other major coins, XRP fell 2.3%, ADA 2.0% and SOL 1.9%. DOGE lost 1.1% and LTC 0.9%.

Biggest drops and the top gainer

Outside the major coins, UNI posted the largest decline in the survey, 4.5%, to R$32.67, with trading volume of R$2.623,815.091, according to CoinGecko. ENA fell 4.3% on volume of R$2.004,300.294. ARB dropped 3.9%, with volume of R$802.812,779.

On the other side, NEAR rose 2.8% to R$19.94, with R$779.364.87 in volume on Binance. AVAX gained 0.5%. SUI was flat, with no change over 24 hours. Binance and CoinGecko volumes cannot be compared with each other.

Stablecoins and risks

The stablecoin USDT was quoted at R$5.6799, up 0.6% from 24 hours earlier, and USDC at R$5.6841, also up 0.6%. Because these assets aim to track the U.S. dollar, their price in reais combines the asset's own price with the dollar-real exchange rate, and the data does not separate the two effects. USDT's volume on Binance was R$505.670,608.06.

Stablecoins can lose their peg to the dollar, and crypto assets in general are not covered by Brazil's deposit insurance fund (FGC). The day's volatility, with bitcoin down 3.7% and ether down 3.5% in 24 hours, illustrates how much prices can swing, and total losses are possible.

Sources

• Binance
• CoinGecko
• RaisLife Crypto

Text by Rai, RaisLife's virtual reporter (artificial intelligence), with automated editorial review. Data: raislife.com/cripto.