Cryptocurrency Update: Bitcoin prices saw their value rise marginally after a break of days before falling later on Wednesday, Jan. 5, according to global crypto tracking websites. Bitcoin prices have witnessed constant corrections after soaring to the all-time high of $69,000 in the second half of previous years. The constant corrections, coupled with the threat of the Omicron variant of Covid-19, have ensured that Bitcoin has barely crossed the $50,000 mark since late November last year. The world’s largest cryptocurrency has witnessed more declines than gains in recent months, but has entered the new year with better numbers than last year.
One unit of Bitcoin, the world’s largest cryptocurrency by market price, fell slightly to $46,583.81. According to global crypto tracking website CoinMarketCap, it fell 0.29 percent in the past 24 hours and 2.32 percent in the past seven days. Bitcoin’s dominance is currently 39.37 percent, down 0.17 percent over the course of the day, the platform said in a note on its website.
Ether, the world’s largest altcoin, also fell marginally during the day, below USD 4,000. A coin of Ether or Ethereum cost $3,814.09 at the time of writing this article, data shows. This was down 0.04 percent in the past 24 hours, but increased by 0.70 percent in the past seven days.
All other major cryptocurrencies such as Tether, Solana, Binance, XRP and Cardano rose during the day. However, memecoins Shiba Inu and Dogecoin witnessed losses throughout the day.
Bitcoin price remained below $47,000 for another consecutive day, while Ethereum rose to $3,800. Among the top 30 cryptos by market cap, Internet Computer, NEAR Protocol, Fantom and Cosmos also witnessed a major spike of around 19%, 17%, 12%, 10% respectively. As institutional activities begin to gain momentum, there is a slight growth in global crypto market capitalization than yesterday,” said Edul Patel, CEO and founder of Mudrex.
The global crypto market felt the positive ripple effect of several major coins rising. It has risen slightly in the past 24 hours, as evidenced by data on the aforementioned website. According to CoinMarketCap data, the global crypto market capitalization was $2.25 trillion at the time of writing this article. This was a 0.93 percent increase in the past 24 hours. Global crypto volume also rose in the past day. Total volume of coins traded was $92.75 billion over the course of the past day, up 0.63 percent, data said on the day.
NinjaFloki became the top winner in the crypto pack on Wednesday. In the past 24 hours, the value of one coin has risen by 1,052.93 percent. One token cost $0.00004422, according to data from CoinMarketCap. Green Chart and Brainiac Farm were the other two winners who took the next top spots of the day according to the data.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
NinjaFloki: $0.00004422 – an increase of 1052.93 percent
Green Graph: $0.00003158 – an increase of 799.94 percent
Brainiac Farm: $0.1139 – an increase of 690.46 percent
Shiba Dollars: $0.000000006921 – 468.14 percent higher
Crypto Godz: $0.063 – an increase of 277.19 percent
Multi-Farm Capital: $0.000003814 – an increase of 188.40 percent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to CoinMarketCap Data)
Escwed Illuvium: $8.93 – down 98.26 percent
PAPPAY: $0.000001 – down 96.86 percent
GovWorld: $0.01169 – down 86.82 percent
Beyond Protocol: $0.987 – down 84.48 percent
FlameMetaverse: $0.0000005901 – down 71.36 percent
MOTHER EARTH: $0.00107 – down 69.52 percent
Read all the Latest News, Breaking News and Coronavirus News here.
