Cryptocurrency Update: The cryptocurrency market was back in the red at the start of the week, followed by losses in major crypto coins including Bitcoin, Ether, BNB and Solana. After reaching its peak of $69,000 during the latter half of the previous years, the bitcoin price has been witnessing a steady correction. The world’s most valuable cryptocurrency has not been able to surpass the $45,000 mark for some time, as traders remain cautious about risky assets amid another wave of the COVID-19 pandemic. This has also kicked off a downward trajectory in the cryptocurrency market cap, which is seeing a steady decline.
One unit of bitcoin, the world’s largest cryptocurrency by market cap, fell slightly to $42,745.73. According to global cryptocurrency tracking website CoinMarketCap, it is down 0.56 percent in the past 24 hours but is up 2.51 percent in the past seven days. “Bitcoin dominance currently stands at 39.53 percent, with no increase of 0.12 percent on the day,” the platform noted in a note on its website.
“In the first half of this week, there appears to be a more direct buying of altcoins, which had some interesting implications. BTC (Bitcoin) hasn’t found the support it usually sees at the top of the month, and the correlation has broken down a bit. , which is why we have observed that the assets have been on a downward spiral since the beginning of the year.” Zebpay Trade Desk said in its weekly quote.
According to data from CoinMarketCap, the global crypto market cap stood at $2.05 trillion at the time of writing this article. This was a decline of 0.60 per cent in the last 24 hours. However, global crypto volumes have increased significantly over the past few days as more traders sold their coins. The total volume of coins traded during the previous day was $70.24 billion. It has increased by 12.53 percent in the last 24 hours, the data said.
Thorium became the top spot in the crypto pack on Tuesday. The price of a coin has increased by 821.60 percent in the last 24 hours. According to data from CoinMarketCap, the price of one token was $0.1134. MiniTesla and NFTMall were the other two gainers who grabbed the top spot next in the day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Thorium: $0.1134 – up to 821.60 percent
MiniTesla: $0.0000001524 – up to 225.49 percent
NFTmall: $0.3723 – up to 200.29 percent
Avaxtars Tokens: $18.46 – up 198.69 percent
Cycle Finance: $7.15 – up to 197.58 percent
Barter: $0.01009 – up to 194.71 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
Pomeranian: $0.00000002648 – 92.07 percent less
Cui Token: $0.03981 – down 73.09 percent
2Shares: $834.97 – down 59.59 percent
Watchmen: $0.000000818 – 58.84 percent drop
Web3 Inu: $0.00000002508 – 54.03 percent less
Devil Finance: $0.3528 – 52.85 percent down
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