Cryptocurrency Update: Bitcoin prices saw a marginal gain on Wednesday, January 19, even as the global cryptocurrency market saw a dip in its value over the last 24 hours. The falling prices could be attributed to the losses suffered by other major crypto coins such as Ethereum, Solana, Cardano and others through the day. The crypto market has been witnessing a major downfall over the past few weeks, that can be attributed to a number of reason’s such as the Fed’s hawkish views and the rising number of Covid-19 cases across the world fuelled by the highly infection Omicron variant of the coronavirus.
At the time of writing this article, Bitcoin prices stood at $41,931.9 according to global crypto tracking website CoinMarketCap. This was up by 0.24 per cent over the last 24 hours but 2.46 per cent down over the last seven days as per data.
“The global crypto market cap has been down by 3 per cent over the past day. The total market volume has increased by 12 per cent. Bitcoin is currently being traded below US $42,000. BTC’s (Bitcoin) dominance fell below the 40 per cent mark, giving altcoins supporters a boost,” said Edul Patel, CEO and co founder of Mudrex.
The global crypto market cap was standing at $1.98 trillion at the time of writing this article according to CoinMarketCap data. This was a 0.58 per cent fall in the last 24 hours. The global crypto volume, however, rose slightly over the past day as more traders sold their coins. The total volume of traded coins amounted to $82.02 billion over the course of the last day. This has risen by 4.39 per cent over the last 24 hours, said data.
“Other major cryptocurrencies are also running in red when compared to yesterday. Cardano, which outperforms the BTC and ETH (Ethereum), is also experiencing a dip. Optimistically, the U.S inflation rates may drive investors towards Bitcoin and other cryptos in protecting their wealth. The coming days would be critical for the crypto spectrum,” added Patel in a note to News18.com.
Patron became the top gainer in the crypto pack on Wednesday. Over the last 24 hours, the value of one coin increased by 2,396.91 per cent. One token was priced at $0.05617, as per data from CoinMarketCap. LATOKEN and PAPPAY were the other two gainers who occupied the next top spots on the day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Patron: $0.05617 – up by 2,396.91 per cent
LATOKEN: $1.60 – up by 1,179.70 per cent
PAPPAY: $0.0000003277 – up by 178.70 per cent
ShibRWD: $0.00000001174 – up by 156.34 per cent
MiniTesla: $0.00000000143 – up by 151.42 per cent
MetaSafeMoon: $0.000000001927 – up by 140.58 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Square Token: $12.02 – down by 99.93 per cent
Meta Legends: $0.0000000000571 – down by 98.35 per cent
NinjaFloki: $0.000001201 – down by 95.02 per cent
MetaAudio: $0.0001202 – down by 81.01 per cent
Waterfall Finance BSC: $639.63 – down by 74.05 per cent
Radio Hero: $0.0000008373 – down by 72.39 per cent