Cryptocurrency Update: The global crypto market remained in green on Monday, December 27 as the world entered the festive season. The surge in the crypto market value was fuelled by the rise of Bitcoin and Ether, which gained momentum amid the Christmas and New Year festivities after being on the downward trod for weeks. Bitcoin price remained within the $50,000 level, as per data from global crypto tracking website CoinMarketCap. Bitcoin saw gains after falling below the $45,000 mark a few days back. More traders amid the festivities seemed to draw towards the digital currencies, and the Omicron variant of Covid-19 could not mute the Christmas cheer among them.
The global crypto market also felt the positive ripple effect with more investors willing to invest in the risky asset. It rose decently over the last 24 hours, as per data on the website mentioned earlier. The global crypto market cap was standing at $2.40 trillion at the time of writing this article according to CoinMarketCap data. This was a 1.64 per cent increase in the last 24 hours. The global crypto volume however declined slightly over the course of the past day. The total volume of traded coins amounted to $74.29 billion over the course of the last 24 hours, falling by 1.07 per cent, said data on the day.
One unit of Bitcoin, the world’s largest cryptocurrency by market price, rose to $50,736.43. This was up by 1.17 per cent over the last 24 hours and 10.04 per cent over the last seven days, according to global crypto tracking website CoinMarketCap. “Bitcoin’s dominance is currently 40.09 per cent, a decrease of 0.02 per cent over the day,” mentioned the platform in a note on its website.
Ether, the world’s largest altcoin, also rose over the day, going past the $4,000 mark after days. One coin of Ether or Ethereum was priced at $4,059.11
at the time of writing this article, data showed. This was up by 0.06 per cent over the last 24 hours and by as much as 6.43 per cent over the last seven days.
“We saw a massive rally across the cryptocurrency spectrum prior to the Christmas weekend. The momentum across the market remained bullish with most of the top cryptos hovering around their nearest resistance levels. However, the weekend remained muted with low traded volumes. With the year end approaching, the coming few days could likely remain range-bound with less institutional participation. However, traders should keep an eye out for the $51,000 resistance level in BTC. If that gets breached, we might see some good movement across the spectrum,” said Edul Patel, CEO and co-founder of Mudrex, a global crypto trading platform.
Santa Floki became the top gainer in the crypto pack on Monday. Over the last 24 hours, the value of one coin increased by 439.21 per cent. One token was priced at $0.000001482, as per data from CoinMarketCap. KickToken and Scar Token were the other two gainers who occupied the next top spots on the day. On the other hand, RailNode, valued at $0.05011 was the top loser in the global crypto pack. The coin declined 99.08 per cent over the day, as it lost most of its value. LimoCoin Swap and Star Ship Royal occupied the second and third position according to data from the same website.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Santa Floki: 0.000001482$ – up by 439.21 per cent
KickToken: $0.01906 – up by 419.01 per cent
Scar Token: $0.00000005858 – up by 413.78 per cent
New Year Token: $0.02653 – up by 220.27 per cent
Solanyx: $0.004524 – up by 216.76 per cent
Strong Inu: $0.002246 – up by 184.05 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
RailNode: $0.05011 – down by 99.08 per cent
LimoCoin Swap: $0.01706 – down by 90.62 per cent
Star Ship Royal: $0.04837 – down by 79.67 per cent
Flinch Token: $0.00000000001653 – down by 64.24 per cent
SpiritDAO Ghost: $2.79 – down by 63.24 per cent
ElonTech: $0.000001781 – down by 60.65 per cent
Read all the Latest News, Breaking News and Coronavirus News here.