Global cryptocurrency prices Will be in Red Zone on Tuesday, November 16 bitcoin and ether are falling from their great heights. The largest cryptocurrency globally, bitcoin, fell below the $60,000 mark at one point in the day. At the time of writing this article, one bitcoin was priced at $60,282.84, registering a drop of 8.47 percent over the past 24 hours. A note from crypto tracking website CoinMarketCap states that bitcoin dominance is currently at 43.44%, which is a 0.19 percent increase over the day. Ether also recorded its all-time low this month. One token of Ethereum or Ether was priced at $4,249.37, the lowest in 19 days. Data from CoinMarketCap shows it is down 9.93 percent in the past 24 hours.
“Bitcoin, the largest cryptocurrency by market cap, has seen a steady decline in trading volume. However, money inflows into BTC have increased over the past few days. Currently, the cryptocurrency market is looking for directional signals from BTC and ETH. While some of the smaller altcoins had a good session, momentum has been consolidated,” said Edul Patel, CEO and Founder, Mudrex.
“Market participants should now be cautious before trading aggressively as the momentum can quickly turn in either direction,” he added.
“Ethereum has retreated a bit since crossing the $4,800 mark. Although the trend is looking strong and bound to continue with the same vigor. ETH continues to move in an ascending channel pattern. Let’s expect resistance at 4,850 level, after which Ethereum may break $5,000 mark. Immediate support is expected at $4,520 mark. We can see Ethereum take other altcoins to new highs in the coming weeks. Can,” said the WazirX Trade Desk.
The global cryptocurrency market cap stood at $2.61 trillion on Tuesday, November 16. Data from CoinMarketCap shows that it had lost a whopping 9.13 percent during the previous day. However, the total crypto volume increased significantly during the last day. The volume of coins traded was $142.00 billion, an increase of 55.91 percent over the past 24 hours.
Within the country, on 15 November, representatives of crypto exchanges, Block Chain and Crypto Assets Council (BACC), industry bodies and other stakeholders made their presentations before a parliamentary panel headed by BJP leader Jayant Sinha. RBI and Center plan to launch an official digital currency in the country instead of banning cryptocurrencies. The center also plans to impose sanctions within the industry regarding the trading of crypto coins to avoid money laundering and crimes.
Coming back to the global stage, Ethereum Meta performed well on the day, rising over 2.35 lakh percent during the day. As of the writing of this article, the digital coin has gained 98,699.77 percent in the last 24 hours. One Ethereum meta coin was priced at 0.00005697, making it the top gainer of the crypto pack. With a price of $0.0000000113 and an increase of 906.08 percent over the past 24 hours, GenShinShibInu took the second spot in the pack of top gainers. Secured Ship, which is valued at $0.00000001108 per token, ranked third with a rise of 508.02 percent on the last day.
As far as the losers are concerned, the top spot went to PolypuX. The price of one token dropped by 97.08 percent and was trading at $0.0009633. Impermax and Banatok finished second and third on the charts, down 90.54 and 85.94 per cent respectively during the final day.
Top 6 Cryptocurrency Gainers (According to Data from CoinMarketCap)
Ethereum Meta: $0.00005697 – 98,699.77 percent up in the last 24 hours
GenShinShibInu: $0.0000000113 – 906.08 percent increase over the last 24 hours
Safe Ships: $0.00000001108 – 508.02 percent increase over the last 24 hours
Crypto Village Accelerator: $0.000002028 – up 401.31 percent over the last 24 hours
Husky X: $0.00000854 – increase of 360.25 percent over the last 24 hours
Muk: $0.0000000001695 – 308.52 percent increase over the last 24 hours
Top 6 cryptocurrency losers (according to data from CoinMarketCap)
PolypuX: $0.0009633 – 97.08 percent down in the last 24 hours
Impermax: $0.3394 – down 90.54 percent over the last 24 hours
Bananatok: $0.002751 – 85.94 percent down in last 24 hours
My Shiba Academia: $0.00005189 – 83.54 percent down in the last 24 hours
Gnome Token: $0.001042 – 72.37 percent down in the last 24 hours
Qrkita Token: $0.000001993 – 68.97 percent down in the last 24 hours
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