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Cryptocurrency: 5 Cryptos Surge up to 218% in Last 24 Hours While Bitcoin, Ether Slump

·4-min read

The global crypto market on Wednesday, showed a declining trend as the global crypto market cap stood at $1.87 trillion, which was a downward move of 1.86 per cent over the course of the last day, according to information from CoinMarketCap. The total crypto market volume was also following a similar trend as it stood at $135.75 billion over the last 24 hours. This pointed to a decrease of 9.70 per cent for the same period. However, there have been a few top gainers in the cryptocurrency market according to the CoinMarketCap website. These are apart from the usual and well-known Bitcoin and Ether.

With this in mind, here are the top five gainers that have surged over the last 24 hours in the crypto market.

Top 5 Cryptocurrency Gainers (According to data from CoinMarketCap)

1) Kianite Finance – $0.09637 – 217.34 per cent change over the last 24 hours

2) Able Finance – $0.01535 – 207.47 per cent change over the last 24 hours

3) Yetucoin – $0.01994 – 191.87 per cent change over the last 24 hour

4) ImageCoin – $0.03349 – 190.16 per cent change over the last 24 hours

5) Gravitoken – $0.1156 – 142.93 per cent change over the last 24 hours

Apart from these top gainers, on the other side of the spectrum, many of the top run-of-the-mill cryptocurrencies such as Bitcoin, Ethereum, Tether, Cardano, Binance Coin and XRP have been trading red over the past seven days. Most of these top six market assets have also been trading red over the course of the last 24 hours, including Bitcoin, Ether, Binance Coin and XRP.

According to the information on the crypt listing website, Bitcoin held a price of $42,581.44 which was a decline of 1.49 per cent over the last 24 hours, while the last seven days yielded a slump of 9.78 per cent, at the time of this article. Ether, the second most popular coin held a price of $2,945.57 and it was also trading red at 4.24 per cent over the last day with a slump of 13.46 per cent over the course of the week. Of the above-mentioned top six market cryptocurrencies, Tether and Cardano were the only ones trading green, with 0.02 per cent and 0.68 per cent respectively. The price of Tether stood at $1.00 and Cardano had a price of $2.15. However, both of these coins were also trading red over the course of the past seven days. Tether was at 0.01 per cent over the last seven days and Cardano was down by 10.19 per cent.

Commenting on the current trends in the crypto market, Siddharth Menon, COO WazirX said, “The overall crypto markets experienced a minor landslide of sorts today. The Total market cap slid down below the $2 trillion mark. The $250 billion loss in value is speculated to be due to the ubiquitous sell-off linked to a probable calamitous debt default by China’s leading real estate giant, Evergrande. Bitcoin and most of the Altcoins fell by around 10 per cent approximately during this period.”

Aside from all these coins, recent trends in the cryptocurrency market saw the rise of other altcoins such as Dogecoin and SHIBA INU. This comes after Tesla CEO and tech billionaire Elon Musk took to Twitter to share images of his new puppy named ‘Floki’. This resulted in a massive push by investors and crypto enthusiasts towards the puppy-themed meme coins. The coins have since seen a significant rise in popularity. Dogecoin for example has risen to the number 10 spot and has a price of 0.2114 at the time of this article. This indicated an upward move of 0.59 per cent over the last 24 hours. However, the coin was trading red over the course of the week at 12.51 per cent.

Speaking of all these coins, the volume of all the stable coins in the market, at the time of this article, stood at $107.71 billion, which is 79.35 per cent of the total crypto market’s 24-hour volume. It should also be noted that Bitcoin’s dominance currently stands at 42.58 per cent, which is an increase of 0.21 per cent over the day.

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