Cryptocurrency Update: The global cryptocurrency market saw itself in green on December 3, Friday, after the Indian government’s positive signal regarding the control on the digital coins recently. The government has pushed for a regulation, instead of banning, of cryptocurrencies, a bill regarding which is set to be tabled soon at the Parliament. The global cryptocurrency market capitalistaion was standing at 2.63 trillion, data from CoinMarketCap showed. This was down up 1.25 per cent over the past 24 hours. The total crypto volume however, declined significantly during the course of the last day. The volume of traded coins stood at $116.11 billion on the day. This was a 4.24 per cent fall over the last 24 hours, data from CoinMarketCap showed on the day.
Bitcoin on the day breached the $57,000 mark for a brief while and hovered around the upper end of the $56,000 mark thereafter. At the time of writing this article, the price of one Bitcoin stood at $57,055.42 according to data. This was up by 1.04 per cent over the last 24 hours and by 4.06 per cent over the last seven days. The dominance of the world’s largest cryptocurrency however declined slightly to 40.89 per cent, as per data from CoinMarketCap.
Ethereum, or Ether, prices also saw a gain during the day. One unit of the world’s largest altcoin was standing at $4,605.80 at the time of writing this article. This was up by 1.71 per cent during the course of the last day, and by 12.32 per cent over the last seven days, as per data.
Memecoins Shiba Inu and Dogecoins saw a fall over the last 24 hours, after a gain earlier in the day. Both the coins declined by around two per cent in the last day, according to data from the crypto tracking website.
“Over the past 24 hours we saw a profit booking across the crypto spectrum. This was not a major sell off. Towards the weekend we usually see investors booking profits. Among the top 10 cryptocurrencies, Cardano remained the out-performer as it showed a major bump in buying volumes. ADA had been in a downtrend over the past couple of weeks, however the weekly support proved to be strong enough. The two largest cryptocurrencies by market capitalisation, Bitcoin and Ether, witnessed range-bound momentum. The coming couple of days would likely remain volatile. Facebook seems to be taking an aggressive pro-crypto approach, after rebranding itself to ‘Meta,’ and now removing the ban on crypto ads. We might see a lot more institutional involvement in this spectrum following Facebook’s approach. Institutional interest would be beneficial for the long-term investors,” said Edul Patel, CEO and co founder at crypto trading website Mudrex.
Prince Floki V2 was the top gainer in the global crypto market, the data on crypto tracking website CoinMarketCap showed. Over the last 24 hours, the value of one token increased by 1,833.05 per cent. One token was priced at $0.0000001714, as per data. Pegaxy and GXChain were the other two gainers wwho occupied the next top spots on the day. On the other hand, RPS League, valued at $0.02819 was the top loser in the global crypto pack. The coin declined 99.50 per cent over the day. Degem and Safe Drive occupied the second and third position according to data.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Pince Floki V2: $0.0000001714 – up by 1,833.05 per cent
Pegaxy: $2.06 – up by 744.08 per cent
GXChain: $5.04 – up by 700.54 per cent
Christmas Floki X: $0.00000001816 – up by 465.89 per cent
Mars SpaceX: $0.6727 – up by 436.66 per cent
COXSWAP: $0.00000003633 – up by 242.18 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
RPS League: $0.02819 – down by 99.50 per cent
Degem: $0.001251 – down by 94.99 per cent
Safe Drive: $0.000001688 – down by 84.06 per cent
META LAND: $0.000153 – down by 69.75 per cent
Pexcoin: $0.02138 – down by 67.59 per cent
The Sandlot: $0.0000003184 – down by 66.54 per cent