Cryptocurrency Update: The cryptocurrency market was back in red at the start of the week followed by losses incurred by major crypto coins including Bitcoin, Ether, BNB and Solana. Bitcoin prices have been witnessing constant corrections after it rose to its peak of $69,000 during the later half of the previous years. The world’s most valuable cryptocurrency has not been able to move past the $45,000 mark for a while now, as traders remain to be cautious about risk assets amid another wave of the Covid-19 pandemic. This has also set off a downward trajectory in the cryptocurrency market cap, which has been seeing constant drops.
One unit of Bitcoin, the world’s largest cryptocurrency by market price, slightly fell to $42,745.73. This was down by 0.56 per cent over the last 24 hours but 2.51 per cent up over the last seven days, according to global crypto tracking website CoinMarketCap. “Bitcoin’s dominance is currently 39.53 per cent, nan increase of 0.12 per cent over the day,” mentioned the platform in a note on its website.
“In the first half of this week, there seems to be a lot more direct purchasing of altcoins, which had some interesting effects. BTC (Bitcoin) hasn’t been able to get the support it usually sees at the top of the month, and correlations broke down a bit, which is why we have seen the asset continue to slide downwards since the start of the year,” said the Zebpay Trade Desk in its weekly quote.
The global crypto market cap was standing at $2.05 trillion at the time of writing this article according to CoinMarketCap data. This was a 0.60 per cent fall in the last 24 hours. The global crypto volume, however, rose significantly over the past day as more traders sold their coins. The total volume of traded coins amounted to $70.24 billion over the course of the last day. This has risen by 12.53 per cent over the last 24 hours, said data.
Thoreum became the top gainer in the crypto pack on Tuesday. Over the last 24 hours, the value of one coin increased by 821.60 per cent. One token was priced at $0.1134, as per data from CoinMarketCap. MiniTesla and NFTmall 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)
Thoreum: $0.1134 – up by 821.60 per cent
MiniTesla: $0.000000001524 – up by 225.49 per cent
NFTmall: $0.3723 – up by 200.29 per cent
Avaxtars Token: $18.46 – up by 198.69 per cent
Cycle Finance: $7.15 – up by 197.58 per cent
BarterTrade: $0.01009 – up by 194.71 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Pomeranian: $0.00000002648 – down by 92.07 per cent
Kuai Token: $0.03981 – down by 73.09 per cent
2SHARE: $834.97 – down by 59.59 per cent
WATCHMEN: $0.000000818 – down by 58.84 per cent
Web3 Inu: $0.0000002508 – down by 54.03 per cent
Devil Finance: $0.3528 – down by 52.85 per cent