cryptocurrency update: The global cryptocurrency market saw itself in the green on Friday, December 3, following the recent positive sign from the Indian government regarding deregulation of digital coins. The government has insisted on a regulation rather than banning cryptocurrencies, a bill about which will be introduced in Parliament soon. Data from CoinMarketCap shows that the global cryptocurrency market cap stood at 2.63 trillion. It was down 1.25 percent in the last 24 hours. However, the total crypto volume declined significantly during the last day. The volume of coins traded on that day stood at $116.11 billion. This was a drop of 4.24 percent over the past 24 hours, according to data from CoinMarketCap.
Bitcoin It briefly broke the $57,000 mark on the day and then hovered around the $56,000 upper edge. At the time of writing this article, the price of one bitcoin was $57,055.42 according to the data. It was 1.04 per cent higher in the last 24 hours and 4.06 per cent higher in the last seven days. According to data from CoinMarketCap, the dominance of the world’s largest cryptocurrency, however, declined slightly to 40.89 percent.
Ethereum, or Ether, prices also saw a rise during the day. At the time of writing this article, one unit of the world’s largest altcoin stood at $4,605.80. According to the data, it was 1.71 per cent higher during the last day and 12.32 per cent higher in the last seven days.
Memecoins Shiba Inu and Dogecoins saw declines over the past 24 hours, following gains from earlier in the day. According to data from the crypto tracking website, both the coins have lost about two percent in the last day.
“Over the last 24 hours we have seen profit-booking across the crypto spectrum. It was not a major sell-off. Over the weekend we usually see investors booking profits. Among the top 10 cryptocurrencies, Cardano remained an out-performer as it generated a significant amount of buying volume. Shows a big bounce. ADA has been trending down for the past few weeks, although weekly support proved to be quite strong. The two largest cryptocurrencies by market capitalization, Bitcoin and Ether, have seen range-bound momentum. The coming days remain volatile. Facebook seems to be taking an aggressive pro-crypto approach after rebranding itself to ‘meta’ and now lifting the ban on crypto ads. We see a lot more institutional involvement across this spectrum following Facebook’s approach. “Institutional interest will be beneficial for long-term investors,” said Edul Patel, CEO and co-founder of cryptocurrency trading website Mudrex.
Data from crypto tracking website CoinMarketCap shows that Prince Floki V2 was the top ranked leader in the global crypto market. In the last 24 hours, the value of one token has increased by 1,833.05 percent. According to the data, the price of one token was $0.0000001714. Pegaxy and GXChain were the other two gainers to take the next top spot that day. On the other hand, RPS League, which is valued at $0.02819, was the top loser in the global crypto pack. The coin fell 99.50 per cent throughout the day. According to the data, the second and third positions were occupied by Deegam and Safe Drive.
top 6 cryptocurrency Profit in the last 24 hours (according to CoinMarketCap data)
Pince Floki V2: $0.0000001714 – up to 1,833.05 percent
Pegaxi: $2.06 – up to 744.08 percent
GXChain: $5.04 – up to 700.54 percent
Christmas Floki X: $0.00000001816 – up to 465.89 percent
Mars SpaceX: $0.6727 – up 436.66 percent
CoxSwap: $0.00000003633 – up to 242.18 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
RPS League: $0.02819 – 99.50 percent drop
Degem: $0.001251 – 94.99 percent down
Secure Drive: $0.0000001688 – 84.06 percent less
Meta Land: $0.000153 – 69.75 percent off
Pexcoin: $0.02138 – down 67.59 percent
Sandlot: $0.0000003184 – down 66.54 percent
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