cryptocurrency update: After suffering a bloodbath over the past few days, bitcoin reclaimed its dominant position in the cryptocurrency market on Wednesday, December 7th. Bitcoin fell to $47,000 the day before, only to jump above the $50,000 mark on Tuesday. The world’s largest cryptocurrency then gained more value throughout the day. At $51,386.30, according to data from global crypto tracking website CoinMarketCap. It had risen by 8 per cent in the last 24 hours, but reduced to 10.24 per cent in the last seven days. Last month, bitcoin hit a record high of $69,000 for the first time. Subsequently, its prices did not drop below $50,000 until last weekend, amid fears of the newly discovered Covid-19 variant – Omicron.
Ether, who also suffered a similar fate Bitcoin, its prices also witnessed a sharp increase. The world’s largest altcoin jumped significantly above the $4,000 mark on Tuesday. At the time of writing this article the price of one Ethereum of Ether coin was $4,398.56. It was 10.84 per cent higher in the last 24 hours, but 2.89 per cent lower in the last seven days.
Other major altcoins such as Tether, Binance, Solana and Polkadot also posted gains during the day. Memecoins Shiba Inu and Dogecoin recorded gains of 12.86 percent and 11.74 percent in the last 24 hours. These coins also posted huge losses over the weekend as investors looked to invest in safer assets.
“The coming few days are likely to be volatile. We may see a lot more institutional participation in this spectrum in the coming few days. Mudrex CEO and co-founder Edul Patel said institutional interest would be beneficial for long-term investors.
The combined gains of most cryptocurrencies on Tuesday also had a consolidated effect on global markets. The global cryptocurrency market also saw a sharp rise on Tuesday, which was valued at $2.41 trillion. It had risen to 10.41 per cent in the last 24 hours. At the time the article was being written, the total crypto market volume stood at $128.95 billion in the last 24 hours, which also saw a decent increase. It rose 4 percent during the previous day, as fears about the Omicron version eased and traders felt safer investing in riskier assets.
Synex Coin became the top gainer in the crypto pack on Monday. The value of a coin has increased by 4,867.46 percent in the last 24 hours. According to data from CoinMarketCap, the price of one token was $0.109. ElonFlokiInu and HeroFi (ROFI) were the other two gainers who grabbed the top spot next in the day. On the other hand, Frosty Floki, which is valued at $0.06314, was the top loser in the global crypto pack. The coin lost 89.36 per cent during the day. According to the data TToken and 8ight Finance took the second and third place.
top 6 cryptocurrency Profit in the last 24 hours (according to CoinMarketCap data)
Synex Coin: $0.109 – up to 4,867.46 percent
ElonFlokiInu: $0.0000008767 – up to 988.17 percent
HeroFi (ROFI): $3.70 – up to 728.14 percent
Ethereum Meta: $0.000003327 – up 538.81 percent
Uninfected sperm: $0.000004091 – up to 495.34 percent
Christmas Floki X: $0.0000001905 – up to 472.83 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
Frosty Floki: $0.06314 – 89.36 percent drop
TToken: $0.0000002958 – 89.35 percent drop
8ight Finance: $6.45 – 81.07 percent less
BabyLoserCoin: $0.0000000001063 – 66.22 percent drop
Dogs Among Us: $0.00005618 – 62.55 percent drop
Wolf Game Wool: $0.02629 – 60.33 percent drop
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