- Ethereum nears key retest at $1,493 while BNB and AVAX extend their 2025 downtrends, indicating weak investor sentiment.
- ADA and XRP show relative strength as other altcoins slump, hinting at stronger mid term support and investor resilience.
- Volatility surges across DOT, SOL, VET as traders exit lower cap assets; ZK sees steepest drop with risk off sentiment.
The global crypto market has had sharp volatility as total market cap dropped by 9.65%, now at $2.4 trillion. The decline coincided with a notable surge in trading activity. Within 24 hours, total market volume jumped by over 284%, reaching $161.42 billion.
The spike followed macroeconomic pressure, especially fresh U.S. tariff announcements impacting China and the EU. These developments led to widespread risk aversion among investors, affecting both equities and digital assets. Several major tokens had rapid declines, while a few showed relative stability, separating stronger performers from weaker ones.
Ethereum Faces Key Retest as Altcoins Differ
Ethereum (ETH) dropped to $1,493.60 after peaking at $1,613.06 on April 7. The decline came with moderate trading volume at 56.29K, pointing to controlled selling pressure.
The asset remains at a technical crossroads, reacting to broader market trends rather than project specific developments. While ETH struggled, BNB and AVAX recorded deeper losses. Both assets have remained in sustained downtrends since January 2025, underperforming relative to others.
BNB and AVAX are losing favor from the market, diverging from Ethereum, ADA, and XRP. This drop shows weak sentiment and possibly ongoing project concerns, as their movements continue downward.
XRP and ADA Show Relative Stability
In contrast, XRP maintained a more stable movement. XRP has led most assets in performance since December 2024. Although momentum has slowed recently, XRP’s uptrend is intact, indicating stronger investor activity.
Cardano (ADA) also showed resilience, despite its recent slide. The token had a strong rally into late 2024 but has softened since February. Even so, ADA held above BNB and AVAX levels, supported by its earlier gains. Market behavior suggests ADA still retains medium-term support. However, continued decline could challenge that position.
Volatility Deepens Across DOT, SOL, VET, and Smaller Alts
Polkadot (DOT) fell by 12.91% in 24 hours, reaching $3.42. Market cap dropped to $5.36 billion. Trading volume surged to $340.38 million, suggesting active sell-offs or liquidations. The volume-to-market cap ratio hit 6.35%, indicating high volatility.
Solana (SOL) followed a similar decline, nearly a 22% drop before recovering modestly by noon on April 7. Both tokens showed correlated movements, influenced by broader market weakness.
VeChain (VET) dropped to $0.01904 with increased trading volume of 439.43 million USDT. VET is stuck in a bearish channel since December, with previous rallies in January and February failing to hold.
Meanwhile, HTX stands out as the only asset above its base level. RENDER and ZRO consolidated around their support, while ZK saw the steepest decline. Data shows investors rotated away from lower-cap assets, likely in response to persistent risk-off conditions.
