Cryptocurrency update: Bitcoin on Tuesday, November 23, continued its downward trend, going below the $60,000 mark. The world’s largest cryptocurrency in terms of traded units had faced a sell-off last weeks after scaling lifetime highs earlier this month. Bitcoin was hovering around the $56,000 mark on Tuesday. At the time of writing this article, the price of one unit of Bitcoin stood at $56,317.56, as per data from crypto tracking website CoinMarketCap. This was down by 1.96 per cent over the course of the last 24 hours and by 6.98 per cent over the past seven days, the data showed. The dominance of the cryptocurrency decreased too. At the time of writing, Bitcoin’s market dominance was 41.80 per cent, a decrease of 0.24 per cent over the day.
“BTC (Bitcoin) has seen a significant correction, over the past 10 days, falling by over $13k from its ATH of $69,000 on Nov. 10 to lows of $56,000 very recently. Surprisingly, however, this hasn’t deterred the community, as inflows continue to be strong, and volumes have held fort. Moreover, the overall sentiment hasn’t turned bearish entirely either. The biggest signal of that is the 19 per cent drop down to $56,000 marked a local bottom, and even despite that no significant liquidation took place. Moreover, margin traders continue to remain long, which is a bullish sign as well,” said the ZebPay Trade Desk.
According to Edul Patel, CEO and co-founder of Mudrex, “Bitcoin’s largest upgrade in the past 4 years, the Taproot upgrade, went live last week and followers are speculating about the future usage because of the network improvements. El Salvador, the country that accepted Bitcoin as a legal tender, is inaugurating a Bitcoin city backed by $1 billion Bitcoin bonds. Although most of the top 20 cryptocurrencies ended in red, the momentum is not exactly bearish. Over the coming 24 hours, we might see the crypto market hovering around current levels. Total traded volumes jumped by more than 17 per cent, and the total market cap hovered closer to $2.6 trillion mark.”
The global cryptocurrency market capitalisation saw another dip in its numbers on Tuesday, November 23, following the trend of a constant fall over the past few days. The market cap was standing at 2.55 trillion, data from CoinMarketCap showed. This was down by 1.20 per cent over the past 24 hours. The total crypto volume, however, increased significantly during the course of the last day. The volume of traded coins stood at $127.29 billion, which was a 11.25 per cent increase over the last 24 hours, data from CoinMarketCap showed.
Solar Energy was the top gainer in the global crypto market, the data on the crypto tracking website showed. Over the last 24 hour, the value of one token increased by 8,863.58 per cent. One token was priced at $0.0006243, as per data. ShibaFloki Trillionaire occupied the second spot in the top gainers’ pack, priced at $0.00001272 and up by 1,243.02 per cent over the last 24 hours. GenshinShibInu, valued at $0.0002172 per token, continued its upward trend and came third with a surge of 701.67 per cent in the last day.
As far as losers were concerned, the top spot went to Shih Tzu. The price of one token went down by 99.89 per cent and was trading at $0.00000001882. Ethereum Meta and FastSwap came second and third in the chart, decreasing by 99.41 and 98.89 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Solar Energy: $0.0006243 – up by 8,863.58 per cent
ShibaFloki Trillionaire: $0.00001272 – up by 1,243.03 per cent
GenShinShibInu: $0.0002172 – up by 701.67 per cent
Mars Space X: $ – up by per cent
Angry Squid: $ – up by per cent
Holiday Token: $ – up by per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Shih Tzu: $0.00000001882 – down by 99.89 per cent
Ethereum Meta: $0.00000003014 – down by 99.41 per cent
FastSwap: $0.0567 – down by 98.89 per cent
Impermax: $0.3347 – down by 83.28 per cent
FLOOKIMOON NOW: $0.0000001168 – down by 76.36 per cent
Elonomics: $0.1238 – down by 70.92 per cent
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