Cryptocurrency Update: The global cryptocurrency market on Saturday, December 11, dipped slightly further amid a constant decline over the past many days due to a variety of factors. he global cryptocurrency market cap, at the time of writing this article, was standing at 2.24 trillion, data from global crypto tracking CoinMarketCap showed. This was up down by 0.86 per cent over the past 24 hours. The crypto volume numbers however increased through the day. The volume of traded coins stood at $105.71 billion, which was a 1.77 per cent dip over the last 24 hours. The negative trend in the cryptocurrency market is mainly fuelled by the fear of the Omicron variant of COVID-19. This was also followed by profit booking from investors after the prices rose slightly last week.
Among major global crypto coins, Bitcoin hovered around the $48,000 mark on the day but rose a bit as compared to Friday. The price of one Bitcoin at the time of writing this article was standing at $48,487.45, data from CoinMarketCap showed. This was up by 0.06 per cent over the last 24 hours and 2.95 per cent over the last seven days. Around a week back, Bitcoin prices had scaled its week-low amid Covid scare. “Bitcoin’s dominance is currently 40.86 per cent, an increase of 0.43 per cent over the day,” said a note on the CoinMarketCap website.
On the other hand, the prices of Ethereum declined a bit over the course of the last day. One unit of the largest altcoin, Ether, was standing at $4,023.52 at the time of writing this article. This was down by 2.05 per cent over the past 24 hours but up by 3.16 per cent over the past seven days, according to data.
Other major coins like Binance, Tether, Solana and Cardano declined over the day. Memecoins Shiba Inu and Dogecoin also suffered losses over the past 24 hours.
In the Indian scenario, Prime Minister Narendra Modi said on Friday that emerging technologies such as cryptocurrencies should be used to empower democracy, not undermine it. “We must … jointly shape global norms for emerging technologies like social media and cryptocurrencies so that they are used to empower democracy, not to undermine it,” Modi told a virtual summit hosted by U.S. President Joe Biden. After initially planning to ban cryptocurrencies, the Modi government is instead considering legislation to regulate their use, according to a Reuters report.
Mind Music became the top gainer in the crypto pack on Friday. Over the last 24 hours, the value of one coin increased by 1,032.38 per cent. One token was priced at $$0.000000005181, as per data from CoinMarketCap. HtMoonFOMO and METAVERSE FACE were the other two gainers who occupied the next top spots on the day. On the other hand, FarmerDoge, valued at $0.0001234 was the top loser in the global crypto pack. The coin declined 97.07 per cent over the day. SuperBrain Capital Dao and SUPERPIXEL occupied the second and third position according to data from the same website.
Top 6 Cryptocurrency Gainers (According to Data from CoinMarketCap)
Mind Music: $0.000000005181 – up by 1,032.38 per cent
HtMoonFOMO: $0.000000001621 – up by 496.13 per cent
METAVERSE FACE: $0.0004202 – up by 370.04 per cent
Exchange Union: $0.4316 – up by 322.49 per cent
Mobius: $0.2373 – up by 199.35 per cent
2030 Floki: $0.000000003124 – up by 194.47 per cent
Top 6 Cryptocurrency Losers (According to Data from CoinMarketCap)
FarmerDoge: $0.0001234 – down by 97.07 per cent
SuperBrain Capital Dao: $0.000006672 – down by 94.31 per cent
SUPERPIXEL: $0.009538 – down by 75.88 per cent
Doge Rise Up: $0.0000000008876 – down by 65.42 per cent
MetaVPad: $0.3632 – down by 61.48 per cent
Nemesis DAO: $1,661.56 – down by 65.73 per cent