Cryptocurrency Update: The global cryptocurrency market on Tuesday, December 21, saw a steep rise in its value after a constant decline for weeks. The cryptocurrency market cap was standing at $2.26 trillion, according to data from global crypto tracking website CoinMarketCap. This was up by 6.62 per cent over the last 24 hours. The The global crypto volume also rose significantly over the past day as more traders sold their coins. The total volume of traded coins amounted to $95.67 billion over the course of the last day. This has risen by 8.93 per cent over the last 24 hours, said data. The volume of all stable coins was $75.89 billion, which is 79.33 per cent of the total crypto market 24-hour volume.
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.
“BTC has seen a significant correction, over the past week falling by approximately 20 per cent, fling to lows of $53,327. BTC options expiry last Friday seems to be the main reason for the fall. However, since then BTC has recovered well and currently trades at $57,500. BTC dominance stands at 42.2 per cent, with a market capitalization of $1.2 trillion. The overall sentiment is still positive for the asset, and the recovery trend already seems to be underway,” said the ZebPay Trade Desk.
“The cryptocurrency market remained range-bound over the past 24 hours. We witnessed trading volumes shoot up by more than 22% yet there was no massive sell-off. It suggests that the momentum in the market is not exactly bearish. Among the top 20 cryptocurrencies, Terra’s LUNA coin was the only one that ended in green. Bitcoin’s dominance remained near the 40% mark. The two largest cryptocurrencies by market capitalisation witnessed a small sell off. BTC stayed above the $46,000 mark and Ether stayed over the $3800 mark,” said Edul Patel, founder and CEO of Mudrex.
Bitcoin, Ether and all other major coins rose during the day.
Silva Token became the top gainer in the crypto pack on Monday. Over the last 24 hours, the value of one coin increased by 5,375.72 per cent. One token was priced at $0.00000002518, as per data from CoinMarketCap. CashBackPro and CryptoMafia were the other two gainers who occupied the next top spots on the day. On the other hand, Moontography, valued at $0.0001682 was the top loser in the global crypto pack as per data. The coin declined 97.65 per cent over the day, according to CoinMarketCap. MaticVerse and GalaxyGoggle DAO 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)
Silva Token: $0.00000002518 – up by 5,375.72 per cent
CashBackPro: $3.44 – up by 3,145.27 per cent
CryptoMafia: $0.000000001819 – up by 418.33 per cent
VNX: $0.0425 – up by 190.59 per cent
WAM: $0.2564 – up by 187.01 per cent
Dapp Token: $0.005986 – up by 182.13 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Moontography: $0.0001682 – down by 97.65 per cent
MaticVerse: $0.000003035 – down by 83.99 per cent
GalaxyGoggle DAO: $13.07 – down by 77.95 per cent
Tempo DAO: $6.61 – down by 75.00 per cent
Proxy: $6.87 – down by 73.30 per cent
Ice DAO: $25.64 – down by 65.52 per cent