Cryptocurrency news: Polkadot loses 2.8%, Solana slips 1.5%

Seven of the top ten cryptocurrencies were trading in red on Tuesday, with Polkadot showing the highest decline of 2.83% to $39.28, while Solana dropped 1.56% to $219.91.

Avalanche fell 1.13% to $133.19. Similarly, Cardano slipped 0.56% to $1.79. The world’s oldest and largest cryptocurrency Bitcoin showed a decline of 1.46% to $56,813.31, while the second-largest token Ethereum slumped by 1.19% to $4,139.42.

Among other virtual currencies in the top-10 list, XRP rose 0.93% to $1.05 and Tether USDT added 0.17% to $1.00. In terms of ranking, all the cryptocurrencies retained their previous slots, except for Avalanche which displaced Dogecoin in the tenth position.

Cryptocurrency prices

*All prices as of 23rd November 2021, at 11:38 AM, Table Source: Coinmarketcap.com, For rupee values: WazirX

Avalanche throws Shiba Inu from the top ten list

Avalanche cryptocurrency has surged in the last couple of days, taking it into the top ten list briefly by market value, surpassing Dogecoin and Shiba Inu. This comes after creator Ava Labs signed a deal related to improvement of US disaster-relief funding, with Deloitte.

According to a post from Ava Labs, the ‘Close As You Go platform leverages the Avalanche blockchain to improve security, speed and accuracy of Federal Emergency Management Agency funding which will help state and local government officials streamline and simplify disaster reimbursement applications.

The Avalanche Foundation in September said it had raised $230 million from private sale of tokens with participants including Polychain and Three Arrows Capital.