The global cryptocurrency market showed positive signs on Thursday as the market cap stood at $1.98 trillion. This indicated that the overall market was trading green at 6.37 per cent over the course of the last day. However, contrary to that, the overall crypto market volume over the last 24 hours was $114.30 billion, which pointed towards a 15.45 per cent decline as per information on CoinMarketCap. The total volume of DeFi at the time of this article was $16.27 billion or 14.24 per cent of the total crypto market volume for a 24-hour period. The volume of all stable coins was recorded at $89.61 billion, which was 78.40 per cent of the total crypto market’s 24-hour volume as per CoinMarketCap.
Speaking about the crypto market, Siddharth Menon, COO of WazirX said, “The overall crypto market is still trading above its 200day Moving average even after taking a tumble in the last to remain bearish. However, the trend has broken down from an ascending channel pattern and we can expect the downtrend to continue up to the next support level of $1.5 trillion."
Having said that there have been significant uptakes in the category of top gainers in the market as well as the top losers.
With this in mind, here are the top cryptocurrency gainers that have exhibited strong tendencies over the past 24 hours. In terms of the top gainers, Gravitoken, which has consistently been amongst the top five for quite a few days now, maintained the number one rank with a price of $0.9922 as it surged around 771.77 per cent over the course of the last day. Following close behind was ZEON which demonstrated a massive gap between itself and the number one spot as it had surged 453.78 per cent, while still remaining marginally behind Gravitoken. ZEON carried a price of $0.002356. Overall, the surge for the top crypto coins maintained between almost 800 per cent at the upper end and almost 300 per cent at the lower side.
On the other end of the spectrum, there were the top losers. The cryptocurrency that took the number one spot in that category was TAMA EGG NiftyGotchi with a price of $121.73. It was trading red and had slumped by 92.05 per cent over the course of the last 24 hours. Second place went to FarmHero with a price of $0.02248 and a market slump of 72.47 per cent over the course of the last day. It should also be noted that a meme coin by the name of BabySpaceFloki, another Shiba Inu variant named after Elon Musk’s puppy, found itself at the bottom list of top five losers. The meme crypto coin carried a price of $0.000000000372 at the time of this article and had slumped by 47.98 per cent over the course of the last day.
Top 5 Cryptocurrency Gainers (According to data from CoinMarketCap)
1) Gravitoken - $0.9922 – 771.77 per cent change over the last 24 hours
2) ZEON - $0.002356 – 453.78 per cent change over the last 24 hours
3) Loud Market - $0.1443 – 442.22 per cent change over the last 24 hour
4) VELOREX - $0.004867 – 293.40 per cent change over the last 24 hours
5) AquaGoat.Finance - $0.000000007965 – 281.18 per cent change over the last 24 hours
Top 5 Cryptocurrency Losers (According to data from CoinMarketCap)
1) TAMA EGG NiftyGotchi - $121.73 – Traded 92.05 per down cent over the last 24 hours
2) FarmHero - $0.02248 – Traded 72.47 per cent over down the last 24 hours
3) Ormeus Ecosystem - $0.0001252 – Traded 62.06 per cent down over the last 24 hour
4) MetaUniverse - $0.001484 – Traded 61.22 per cent down over the last 24 hours
5) BabySpaceFloki - $0.000000000372 – Traded 47.98 per cent down over the last 24 hours
Coming back to the more well-known cryptocurrencies in the market, Bitcoin, Ethereum, Cardano amongst others, were all trading green on Thursday. Bitcoin carried a price of $44,045.83 and was trading green at 4.13 per cent over the last 24 hours. However, it was trading red at 9.03 per cent over the course of the week, data from CoinMarketCap indicated. Ether and Cardano carried a price of $3,124.706 and $2.27 respectively. Ether was trading green at 6.95 per cent over the last 24 hours, while Cardano was trading up at 8.40 per cent for the same time frame.
“Seemingly, Bitcoin has continued its downward traverse. The BTC chart shows a descending channel pattern forming. The trend may continue on the downward cycle if the pattern remains within the channel and may take support at $37K level," said Menon.