Cryptocurrency Update: The global cryptocurrency market on Thursday, December 23, headed for another slump days after seeing marginal gains as all major crypto coins, including Bitcoin, dropped on the day. The crypto market has been on the downward trod in general for a while now, 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 Barring Tether, Terra, Shiba Inu and Dogecoin, all the other top crypto coins lost their values on the day, as per data from global crypto tracking website CoinMarketCap.
The global crypto market also felt the ripple effect with fewer investors willing to invest in the risky asset. It fell over the last 24 hours, as per data. The global crypto market cap was standing at $-2.27 trillion at the time of writing this article according to CoinMarketCap data. This was a 1.17 per cent decrease 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 $91.49 billion over the course of the last day. This has risen by 11.66 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 $49,000 mark again on Thursday, after rising briefly yesterday. One unit of Bitcoin, the world’s largest cryptocurrency by market price, fell to $48,377.95. This was down by 1.35 per cent over the last 24 hours and 1.65 per cent over the last seven days, according to global crypto tracking website CoinMarketCap.
Ether, the world’s largest altcoin, also slumped down over the last 24 hours, falling below the $4,000 mark. One coin of Ether or Ethereum was priced at $3,938.51 at the time of writing this article, data showed. This was down by 2.29 per cent over the last 24 hours and down by 3.34 per cent over the last seven days.
“The past 24 hours remained fairly range-bound for the cryptocurrency market with the largest cryptos hovering around their crucial support levels. BTC hovered around $49,000 and ETH hovered around the $4000 mark. However, the momentum across the altcoins remained much more directional and bullish. Among the top 30 cryptocurrencies, NEAR token shot up almost 30 per cent. We are witnessing an increasing number of positions opening up across the derivatives market. The traded volumes in the spot market took a dip. We can expect a range-bound movement over the coming 24 hours,” said Edul Patel, CEO and co founder of Mudrex.
Mello Token became the top gainer in the crypto pack on Monday. Over the last 24 hours, the value of one coin increased by 1,481.98 per cent. One token was priced at $0.008925, as per data from CoinMarketCap. DART Inu and Coinpad were the other two gainers who occupied the next top spots on the day. On the other hand, Spice DAO, valued at $0 was the top loser in the global crypto pack as per data. The coin declined 100 per cent over the day, according to CoinMarketCap. ParrotDao and onLEXpa 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)
Mello Token: $0.008925 – up by 1,481.98 per cent
DART Inu: $0.00000002109 – up by 339.37 per cent
Coinpad: $0.01085 – up by 330.58 per cent
Baby Cat Girl: $0.003979 – up by 326.06 per cent
PAPPAY: $0.000000769 – up by 249.26 per cent
Bitsol Finance: $0.005565 – up by 182.42 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Spice DAO: $0 – down by 100 per cent
ParrotDao: $1.40 – down by 99.19 per cent
onLEXpa: $0.00007897 – down by 98.40 per cent
Snowbear: $1.89 – down by 92.46 per cent
Puff Santa: $0.004385 – down by 91.40 per cent
Vortex DAO: $9.28 – down by 80.99 per cent