cryptocurrency update: The global cryptocurrency market saw a sharp rise in its value on Tuesday, December 21 after weeks of continuous decline. According to data from global crypto tracking website CoinMarketCap, the cryptocurrency market cap stood at $2.26 trillion. It was 6.62 per cent higher in the last 24 hours. As more traders sold their coins, global crypto volume also increased significantly over the past days. The total amount of coins traded during the last day was $95.67 billion. It has increased by 8.93 percent in the last 24 hours, the data said. The amount of all stable coins was $75.89 billion, which is 79.33 percent 24 hour volume in total crypto market.
The crypto market has been on a downtrend for some time, with the discovery of the new COVID-19 version Omicron precisely clashing as investors stayed away. Global traders have been avoiding riskier assets and instead investing in safer assets amid Omicron fears, even as the Fed’s harsh outlook comes into play.
“BTC has seen a significant correction over the past week by nearly 20 percent to a low of $53,327. BTC options expiration last Friday appears to be the main reason for the decline. However, BTC has recovered well since then. and is currently trading at $57,500. BTC dominance is 42.2 percent with a market cap of $1.2 trillion. The overall sentiment for the asset is still positive, and a recovery trend is already underway,” ZebbPay Trade Desk said.
“The crypto market remained in a narrow range over the past 24 hours. We saw trading volumes increase by over 22%, yet no massive selloffs. This suggests that the market momentum is not bearish at all. Top Among 20 cryptocurrencies, Terra’s LUNA coin was the only one to end in the green. Bitcoin dominance remained near the 40% mark. The two largest cryptocurrencies by market capitalization saw a slight selloff. BTC $46,000 mark and Ether held above the $3800 mark,” said Edul Patel, Founder and CEO, Mudrex.
Bitcoin, Ether and all other major coins rose during the day.
The Silva token rose to the top of the crypto pack on Monday. The price of a coin has increased by 5,375.72 per cent in the last 24 hours. According to data from CoinMarketCap, the price of one token was $0.00000002518. CashbackPro and Cryptomafia were the other two gainers who took the next top spot that day. On the other hand, Moontography worth $0.0001682 was the top loser in the global crypto pack as per the data. According to CoinMarketCap, the coin fell 97.65 percent throughout the day. According to data from the same website, Maticverse and Galaxy Goggle DAO are in second and third place.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Silva Token: $0.00000002518 – up 5,375.72 percent
CashbackPro: $3.44 – up to 3,145.27 percent
Crypto Mafia: $0.0000000001819 – up to 418.33 percent
VNX: $0.0425 – up 190.59 percent
WAM: $0.2564 – up to 187.01 percent
Dapp Token: $0.005986 – up to 182.13 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
Moontography: $0.0001682 – 97.65 percent less
MaticVerse: $0.000003035 – 83.99 percent down
Galaxy Goggle DAO: $13.07 – 77.95 percent off
Tempo DAO: $6.61 – 75.00 percent drop
Proxy: $6.87 – 73.30 percent drop
Ice DAO: $25.64 – 65.52 percent drop
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