Cryptocurrency Update: After starting off with a bash amid the festive season this week, Bitcoin prices have been falling for the past two days even as the festivities continue to go on. On Wednesday, December 29, Bitcoin price had fallen below the $48,000 mark. This was on the contrary from two days back when the prices of the world’s largest cryptocurrency had risen above the $50,000 levels after a constant fall marked by fears of the new Covid-19 variant — Omicron. Wednesday’s situation in the cryptocurrency market rose as investors booked profits in the newly discovered investment class. All the top 10 crypto coins, barring Tether, continued to bleed on Wednesday as they pushed the crypto market cap lower.
At the time of writing this article, the price of one Bitcoin was trading at $47,629.17, data from global crypto tracking website CoinMarketCap showed. This was down by 3.17 per cent over the last 24 hours and by 3.10 per cent over the last seven days, as per data. The prices of Bitcoin have been constantly declining over the past week, seldom crossing the $50,000 mark amid a number of reasons, including the scare induced by the newly discovered Omicron variant of Covid-19. “Bitcoin’s dominance is currently 40.21%, an increase of 0.08% over the day,” said CoinMarketCap in a note on its website.
Ether prices, too, were down on Wednesday, hovering just above the $3,700 mark. The price of one Ether or Ethereum coin at the time of writing this article was $3,787.83, according to data. This was down by 3.24 per cent over the last 24 hours and by 6.01 per cent over the last seven days.
The global cryptocurrency market also fell the heat of investors selling the crypto coins amid caution. Although it rose slightly for a brief while, the value of the global cryptocurrency market declined to $2.24T trillion at the time of writing this article, data showed. This was down by 2.97 per cent over the last 24 hours. The total crypto volume also decreased to $94.73 billion as traders looked to sell their assets. This was down by 5.88 per cent, as per data on CoinMarketCap.
The value of most major cryptocurrencies, including Binance, Solana, Polkadot also decreased significantly during the day. Memecoins Shiba Inu and Dogecoin also declined during the day.
Zionomics became the top gainer in the crypto pack on Friday. Over the last 24 hours, the value of one coin increased by 160.39 per cent. One token was priced at $0.8829, as per data from CoinMarketCap. MiniGame and Lady Uni were the other two gainers who occupied the next top spots on the day. On the other hand, CryptoMafia, valued at $0.000000006835 was the top loser in the global crypto pack. The coin declined 100 per cent over the day but did not lose its value. NANJ COIN and Green Eyed Monster 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)
Zionomics: $0.8829 – up by 160.39 per cent
MiniGame: $0.00000000000563 – up by 138.89 per cent
Lady Uni: $0.03506 – up by 132.90 per cent
Ruby Currency: $2.14 – up by 125.81 per cent
GalaxyGoggle DAO: $4.14 – up by 113.46 per cent
ICY MONEY: $0.000000004339 – up by 105.80 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
CryptoMafia: $0.000000006835 – down by per cent
NANJ COIN: $0.00003786 – down by 85.75 per cent
Green Eyed Monster: $0.00000009781 – down by 82.31 per cent
DoneSwap: $0.002146 – down by 82.27 per cent
MetaCat: $0.0003616 – down by 80.15 per cent
Ormeus Cash: $0.0001101 – down by 79.08 per cent