Cryptocurrency Update: The global cryptocurrency market on Thursday, January 20, saw a decent rise in its value after a constant decline for several days. This comes amid the volatile market registering losses in a row over a long period of time due to a host of reasons including the Covid-19 pandemic. The prices of digital tokens, which were going through corrections, had fallen especially after the Fed meeting where a hawkish view towards them was witnessed. However, on Thursday, the prices of most of the major crypto coins rose, which ultimately had an effect on the market cap that saw itself in green.
The cryptocurrency market cap was standing at $1.99 trillion, according to data from global crypto tracking website CoinMarketCap. This was up by 1.19 per cent over the last 24 hours. The The global crypto volume however fell significantly over the past day as more traders held their coins. The total volume of traded coins amounted to $50.97 billion over the course of the last day. This has risen by 37.15 per cent over the last 24 hours, said data.
Bitcoin prices saw a gain for two days in a row on the day, with its value staying over $42,000 as per data. At the time of writing this article, Bitcoin prices stood at $42,201.12 according to CoinMarketCap. This was up by 0.98 per cent over the last 24 hours but 3.62 per cent down over the last seven days as per data.
“Bitcoin’s price increased by nearly 2 per cent and is trading at US$42,000. Bitcoin’s current dominance in the market is 40.24 per cent. Large crypto investors seem to be accumulating BTC amid flat price action. We should see whether this critical support can overcome the resistance level in the coming days,” said Edul Patel, CEO and co founder of Mudrex.
Ether prices, too, rose over the last 24 hours after suffering a fall. At the time of writing this article, the price of one Ethereum coin was standing at $3,149.24, up by 1.72 per cent over the course of the last day.
“Theta Network has spiked about 14 per cent, and other cryptos such as Terra, Fantom, FTX Token attained decent growth. Overall the market has slightly picked up compared to the previous day,” added Patel.
NinjaFloki became the top gainer in the crypto pack on Thursday. Over the last 24 hours, the value of one coin increased by 714.17 per cent. One token was priced at $0.000009534, as per data from CoinMarketCap. Sakura Bloom and SHPNG 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)
NinjaFloki: $0.000009534 – up by 714.17 per cent
Sakura Bloom: $0.0002201 – up by 556.85 per cent
SHPNG: $0.08216 – up by 453.47 per cent
veDAO: $0.3152 – up by 389.07 per cent
Samurinu: $0.00000008356 – up by 152.71 per cent
SMART SHIBA: $0.0008105 – up by 148.10 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
En-Tan-Mo: $0.001948 – down by 88.74 per cent
METABULLRAGE: $0.00004489 – down by 83.98 per cent
Micro Santa Coin: $0.00000000003604 – down by 81.91 per cent
BrowniesSwap: $0.00008193 – down by 81.11 per cent
MiniTesla: $0.0000000004449 – down by 69.06 per cent
CryptoSword: $0.109 – down by 68.91 per cent