Cryptocurrency Update: The global cryptocurrency market on Monday, November 20, headed for another slum as all major crypto coins, including Bitcoin, dropped on the day. The crypto market has been on the downward trod for a while now, precisely clashing with the discovery of the new Covid-19 variant Omicron, as investors stayed away. The global traders have been avoiding risk assets amid Omicron fear and have been investing in safer assets instead, as Fed’s hawkish view also comes to the scenario. Barring Tether, XRP and Terra, all the other top 10 crypto coins lost their values on the day, as per data from global crypto tracking website CoinMarketCap.
The global crypto market also felt the negative ripple effect with fewer investors willing to invest in the risky asset. It fell sharply over the last 24 hours, as per data. The global crypto market cap was standing at $2.15 trillion at the time of writing this article according to CoinMarketCap data. This was a 2.55 per cent increase 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 $86.17 billion over the course of the last day. This has risen by 14.95 per cent over the last 24 hours, said data.
Bitcoin and Ether prices also fell over the day, which affected the global market. Bitcoin prices fell below the $46,000 mark again on Monday, after rising briefly last weekend. One unit of Bitcoin, the world’s largest cryptocurrency by market price, fell to $46,028.93. This was down by 2.10 per cent over the last 24 hours and 5.61 per cent over the last seven days, according to global crypto tracking website CoinMarketCap. “Bitcoin’s dominance is currently 40.57 per cent, an increase of 0.16 per cent over the day,” mentioned the platform in a note on its website.
Ether, the world’s largest altcoin, also slumped down over the last 24 hours, falling below the $3,900 mark. One coin of Ether or Ethereum was priced at $3,805.34 at the time of writing this article, data showed. This was down by 2.68 per cent over the last 24 hours and down by 5.06 per cent over the last seven days.
Binance, Polkadot, Solana, Cardano and all other major crypto coins also fell during the day. Memecoins Shiba Inu and Dogecoin also saw a decline in their numbers.
Andromeda became the top gainer in the crypto pack on Monday. Over the last 24 hours, the value of one coin increased by 10,889.32 per cent. One token was priced at $0.1472, as per data from CoinMarketCap. PLUSPAD and Shiba Inu Empire were the other two gainers who occupied the next top spots on the day. On the other hand, WANAMOON, valued at $0.00004935 was the top loser in the global crypto pack as per data. The coin declined 78.97 per cent over the day, according to CoinMarketCap. Baby Wakanda inu and ALL BEST ICO occupied the second and third position according to data from the same website.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Andromeda: $0.1472 – up by 10,889.32 per cent
PLUSPAD: $0.003513 – up by 681.63 per cent
Shiba Inu Empire: $0.0000000007852 – up by 191.38 per cent
MYCE: $0.01146 – up by 178.90 per cent
METAFLIP: $0.000000006578 – up by 177.76 per cent
Cross Chain Capital: $0.000002156 – up by 140.23 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
WANAMOON: $0.00004935 – down by 78.97 per cent
Baby Wakanda inu: $0.0000000003354 – down by 70.07 per cent
ALL BEST ICO: $0.000438 – down by 69.43 per cent
Blockcloud: $0.0004146 – down by 60.08 per cent
Kitty Finance: $330.61 – down by 59.79 per cent
Syrex: $0.004258 – down by 59.16 per cent