The market capitalization of all cryptocurrencies is $1.06T, down 0.27% from yesterday. The overall volume of the cryptocurrency market during the last 24 hours reached $64.26B, a 41.82% fall. DeFi’s total 24-hour volume is $4.09B, or 6.36% of the whole crypto market. According to data from CoinMarketCap, the total volume of all stable currencies is currently $58.26B, or 90.67% of the 24-hour volume of the whole crypto market. At the time, Bitcoin has a 38.61% market share, up 0.03% from the previous day.
With a market valuation of $407,904,907,681, Bitcoin is currently trading at $21,251.06 after losing 0.31% of its value over the previous 24 hours. When compared to the prior week, it is up 2.67%. Ethereum’s price dropped by 0.82% during the previous day to $1,627.5, with a market value of $199,346,693,481. vs a weekly gain of 1.84%.
The top 5 Trending currencies as per the data of CoinMarketCap are Dogecoin currently trading at a market cap of $16,485,315,559 and at a price of $0.1243 down by 3.17% in the last 24 hours but has gained by 96.41% in the last 30 days. It is then followed by Bitcoin which has gained 6.53% in the last 30 days, Mask Network by 303.18%, Shiba Inu by 11.74% and Ethereum by 20.19% in the last 30 days. With a gain of 2.66%, Bitcoin continued to lead the weekly chart, followed by Mask Network (106.5%), Shiba Inu (0.38%), Ethereum (1.80%), and Galxe (5.35%).
Parth Chaturvedi, Crypto Ecosystem Lead, CoinSwitch said “Crypto prices remain resilient even as macro developments unfold. CRE8, an Indian Rupee denominated Virtual Digital Asset (crypto) index was up 8.75% in the past 7 days. The Index value stood at ₹3016.41 at 8 AM, November 04, 2022.”
“Couple of major announcements shaped market activity during the last week. The Federal Reserves’ 75bps rate hike was initially met with market cheer as it was on expected lines, but this outlook changed course sharply once Chairman Powell’s press conference began. He mentioned the need to recalibrate for a higher Terminal Rate which sent ‘Risk On’ assets into a downward spiral, with the S&P 500 dropping 2.5%. Surprisingly, crypto markets remained resilient and have, in fact, ended the week in green,” said Parth Chaturvedi.
He further added that “The overall crypto market capitalisation stayed well above $1 trillion, with BTC and ETH trading higher at greater than $20k and $1.5k levels. ETH has been outperforming BTC in absolute returns, but the downside movement has also been exaggerated in comparison to BTC. Another major announcement from last week was Elon Musk’s Twitter acquisition and his rapidly unfolding restructuring plans, which could have a major role for crypto assets. DOGE, the meme coin that counts Musk as an avid proponent, had started pumping in speculation of future Twitter integrations and ended the week almost doubling in price. DOGE market capitalisation has crossed $17.5 billion and has displaced Cardano’s ADA in the rankings.”
Arweave climbed by 12.80%, Aptos by 6.57%, OKB by 6.22%, Algorand by 5.12%, and ApeCoin gained by 5.11% during the last 24 hours making those the top 5 gainers. The top 5 losers are: FTX Token down by 9.59%, Fantom down by 6.32%, Nexo by 5.05%, Aave by 3.43% and Polygon by 3.10%. The top three cryptocurrency spot exchanges are Binance, FTX, and Coinbase Exchange based on trading volume, liquidity, and credibility in the authenticity of reported trade volumes. In the last 24 Hours Binance reported a volume of $13,338,973,020 down by 52.25%, Coinbase Exchange saw a volume of $1,294,606,877 down by 58.97% and FTX saw a volume of $863,111,672 down by 64.99%.
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