Cryptocurrency Update: The cryptocurrency market was back in the red at the start of the week, followed by losses from major cryptocurrencies, including Bitcoin, Ether, BNB and Solana. Bitcoin prices have witnessed constant corrections after soaring to the all-time high of $69,000 in the second half of previous years. The world’s most valuable cryptocurrency has been unable to surpass $45,000 for a while as traders remain cautious about risky assets amid another wave of the Covid-19 pandemic. This has also initiated a downward trajectory in the cryptocurrency market cap, which is constantly declining.
One unit of Bitcoin, the world’s largest cryptocurrency by market price, fell slightly to $42,745.73. It was 0.56 percent lower in the past 24 hours, but 2.51 percent higher in the past seven days, according to global crypto tracking website CoinMarketCap. Bitcoin’s dominance is currently 39.53 percent, up 0.12 percent over the course of the day, the platform said in a note on its website.
“In the first half of this week, there seems to be a lot more direct buying of altcoins, which had some interesting effects. BTC (Bitcoin) has failed to gain the support it usually sees at the beginning of the month, and the correlations have broken down a bit, which is why we have seen the asset continue to slide downwards since the beginning of the year said the Zebpay Trade Desk in its weekly quote.
According to CoinMarketCap data, the global crypto market cap was $2.05 trillion at the time of writing this article. This was a 0.60 percent drop in the past 24 hours. However, global crypto volume increased significantly over the past day as more traders sold their coins. The total volume of coins traded in the past day was $70.24 billion. This is up 12.53 percent in the past 24 hours, the data said.
Thoreum became the top gainer in the crypto pack on Tuesday. In the past 24 hours, the value of one coin has risen by 821.60 percent. One token cost $0.1134, according to data from CoinMarketCap. MiniTesla and NFTmall were the other two winners occupying the next top spots of the day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Thoreum: $0.1134 – an increase of 821.60 percent
MiniTesla: $0.000000001524 – an increase of 225.49 percent
NFTmall: $0.3723 – an increase of 200.29 percent
Avaxtars Token: $18.46 – an increase of 198.69 percent
Cycle Financing: $7.15 – an increase of 197.58 percent
BarterTrade: $0.01009 – an increase of 194.71 percent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to CoinMarketCap Data)
Pomerania: $0.00000002648 – 92.07 percent down
Kuai Token: $0.03981 – Down 73.09 percent
2SHARE: $834.97 – 59.59 percent down
WATCHMEN: $0.00000818 – down 58.84 percent
Web3 Inu: $0.0000002508 – down 54.03 percent
Devil Finance: $0.3528 – down 52.85 percent
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