Bitcoin, Solana, Ethereum, and Dogecoin experience downward pressure, causing crypto market cap to hover around $2.45 trillion.

The crypto market cap has experienced a 1.28% decline, causing digital assets to struggle. Currently, the market cap stands at approximately $2.45 trillion, reflecting a 94.5% change from one year ago.

This drop in digital assets could be attributed to the traditional market, as the Japanese yen recently hit a 34-year low against the U.S. dollar. As a result, leading cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE) have all seen a decrease in their prices within the last 24 hours.

Bitcoin, according to CoinMarketCap data, is currently priced at $63,284, representing a 2.32% drop from 24 hours ago. During this period, Bitcoin recorded a trading volume of $22.89 billion, which is the second-highest amount within the last 24 hours.

While Bitcoin’s price is still over 118% higher than it was a year ago, it has experienced declines over various time frames. For instance, there has been a 10% dip in the price over 30 days, a 6.7% drop over a fortnight, and a more modest 1.3% loss in the last seven days.

Solana, the fifth-largest cryptocurrency by market cap, has also seen its price decrease by over 4% in the last 24 hours. Currently, the coin is being traded at $137.21, with a 24-hour trading volume of over $2.4 billion. Similar to Bitcoin, Solana has experienced drops in price across different time frames, including a 25.6% drop over 30 days, an almost 8% dip over 14 days, and a 2.6% loss over seven days.

Ethereum, on the other hand, has managed to buck the negative trend, albeit modestly. At the time of writing, Ethereum was trading at approximately $3,137, showing a 0.23% increase over the last day. With a 24-hour trading volume of $10.26 billion, Ethereum ranks as the third most traded cryptocurrency after Tether and Bitcoin. Over seven days, Ethereum has seen more significant gains, with the current price representing a 4% improvement compared to a week ago. However, like other cryptocurrencies, Ethereum has also experienced a decline in value, losing over 12% in the last month.

Dogecoin, the largest meme token, has also seen a decrease in value within the last 24 hours. The dog-themed coin has lost nearly 3% of its price and is currently trading at around $0.1451. Compared to a month ago, Dogecoin’s value has dropped by more than 30%. Other meme coins, including Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB), have also experienced losses ranging from 2.82% to 7.87%.

In other news, Binance has burned over $1.17 billion in BNB tokens, further impacting the crypto market.