Cryptocurrency update: The cryptocurrency market was in the red again at the start of the week, followed by losses suffered by major cryptocurrencies including Bitcoin, Ether, BNB and Solana. Bitcoin prices have witnessed steady corrections after it peaked at $69,000 during the second half of the previous years. The world's most valuable cryptocurrency has been unable to break above the $45,000 mark for a while now as traders remain wary of risky assets amid another wave of the Covid-19 pandemic. This has also triggered a downward trajectory in the cryptocurrency market capitalization, which has been seeing constant declines.
One unit of Bitcoin, the world's largest cryptocurrency by market price, fell slightly to $42,745.73. This decreased by 0.56 percent in the last 24 hours, but increased by 2.51 percent in the last seven days, according to global crypto tracker website CoinMarketCap. "Bitcoin dominance is currently 39.53 percent, up 0.12 percent on the day," the platform mentioned in a note on its website.
โIn the first half of this week, there seems to be a lot more direct buying of altcoins, which had some interesting effects. BTC (Bitcoin) hasn't been able to get the support you usually see at the top of the month, and correlations broke down a bit, so we've seen the asset continue to fall since the beginning of the year," Zebpay Trade Desk said in its weekly quote.
The global crypto market capitalization stood at $2.05 trillion at the time of writing, according to data from CoinMarketCap. This was a drop of 0.60 percent in the last 24 hours. However, the global volume of cryptocurrencies increased significantly over the last day as more traders sold their coins. The total volume of coins traded amounted to $70.24 billion over the course of the last day. This has increased by 12.53 percent in the last 24 hours, according to the data.
Thoreum became the main winner of the cryptocurrency pack on Tuesday. During the last 24 hours, the value of a coin increased by 821.60 percent. One token was priced at $0.1134, according to data from CoinMarketCap. MiniTesla and NFTmall were the other two winners to take the next top spots for the day.
Top 6 cryptocurrency gainers in the last 24 hours (according to data from CoinMarketCap)
Thoreum: $0.1134 - an increase of 821.60%
MiniTesla: $0.000000001524 - an increase of 225.49%
NFTmall: $0.3723 โ an increase of 200.29 percent
Avaxtars Token: $18.46 โ an increase of 198.69 percent
Cycle Finance: $7.15 - an increase of 197.58 percent
Barter: $0.01009 - an increase of 194.71 percent
Top 6 cryptocurrency losers in the last 24 hours (according to data from CoinMarketCap)
Pomeranian: $0.00000002648 - 92.07 percent off
Kuai Token: $0.03981 - 73.09 percent off
2SHARE: $834.97 - 59.59 percent off
WATCHMEN: $0.000000818 โ 58.84 percent off
Web3 Inu: $0.0000002508 - 54.03 percent off
Devil Finance: $0.3528, down 52.85%
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