Cryptocurrency Update: The global cryptocurrency market capitalisation on Wednesday, December 1, saw a sharp rise in its numbers, shrugging of fears regarding the new Omicron variant of Covid-19 that has gripped the world with fear. The global crypto market cap was standing at 2.65 trillion, data from CoinMarketCap showed. This was down up 2.02 per cent over the past 24 hours. The total crypto volume also increased significantly during the course of the last day. The volume of traded coins stood at $130.46 billion on the day. This was a 12.96 per cent increase over the last 24 hours, data from crypto tracking website CoinMarketCap showed on the day.
Bitcoin on the day hovered around the $57,000 mark amid weak global cues. The price of one Bitcoin, the world’s largest cryptocurrency by volume, at the time of writing this article $56,995.83, down by 0.06 per cent in the last 24 hours. However, over the past seven days, Bitcoin prices rose 1.03 per cent, data from CoinMarketCap showed. Bitcoin’s dominance in the crypto market also fell slightly. “Bitcoin’s dominance is currently 40.66 per cent, a decrease of 0.82 per cent over the day,” a note on the website said. Bitcoin had recently scaled its lifetime high of $59,000.
“Bitcoin maintained its position, hovering around the $58K level. On the hourly chart, Bitcoin can be seen breaking out of a bullish flag pattern. Interestingly, Jack Dorsey the exiting CEO of Twitter is keen on keen on immersing himself into investing in Bitcoin, with his fintech company Square already hold BTC on its balance sheet,” said the WazirX trade desk.
World’s largest altcin Ethereum or Ether was close to its record highs on the day. At the time of writing this article, the price of one Ether stood at $4,729.56, up by 5.86 per cent over the last 24 hours. Ether had crossed the $4,800 mark to reach its all time high earlier this year.
“The past 24 hours remained yet another typical volatile session for the cryptocurrency market. There were several highs and lows throughout the session. The biggest altcoin, Ethereum, shot past $4,750 briefly before settling lower. The meme coin, Shiba Inu, shot up almost 40 per cent at one point. The market is in a larger term bull run and these minor blips are part of that journey. With the total market cap shooting past the $2.63 trillion mark, the momentum in the market is strong. Over the coming few days, we can expect the market to remain volatile,” said Edul Patel, CEO and co-founder of Mudrex.
Euro Shiba Inu was the top gainer in the global crypto market, the data on crypto tracking website CoinMarketCap showed. Over the last 24 hour, the value of one token increased by 2,237.97 per cent. One token was priced at $0.00000000000841, as per data. Gogolcoin and Prince Floki V2 were the other two top gainers on the day. On the other hand, Spice DAO, valued at $0 was the top loser as it lost its value. The coin declined 100.00 per cent over the day. GreenTrust and CrossChainCapital occupied the second and third position according to data.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Euro Shiba Inu: $0.00000000000841 – up by 2,237.97 per cent
GogolCoin: $0.5479 – up by 327.75 per cent
Prince Floki V2: $0.00000001397 – up by 317.39 per cent
Firulais: $0.0000000001058 – up by 315.35 per cent
Mars Space X: $0.03726 – up by 293.56 per cent
PlayAndLike: $0.00000142 – up by 259.17 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Spice DAO: $0 – down by 100 per cent
Green Trust: $0.00000003705 – down by 94.09 per cent
CrossChainCapital: $0.0000007952 – down by 87.67 per cent
Meta Cat: $0.0000001406 – down by 87.04 per cent
ZUM TOKEN: $0.00003025 – down by 85.61 per cent
LAND OF DOGES: $0.00005942 – down by 81.48 per cent