The crypto market this week remained volatile, today being no different. Bitcoin (BTC), Ethereum (ETH), and other altcoins were trading with marginal losses but their trading volume was down by a significant margin. Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and others were also trading with losses.
Barry Silbert, CEO, DCG group, clarified that there is no bankruptcy threat to their group companies including crypto DeFi lender Genesis due to the FTX incident.
“Broader crypto markets have traded in a narrow range, after the massive selloffs in the previous two weeks, settling between a market capitalisation above $850 billion but remaining below $900 billion. The silver lining continued to be the improving global macro backdrop particularly in the US, where expectations of Fed slowing down on its hiking cycle gathered steam and resulted in a relief rally across ‘risk-on’ assets that was sustained over the week,” said Parth Chaturvedi, crypto ecosystem lead, CoinSwitch, a Indian crypto exchange.
The crypto market cap fell about 0.99 per cent to $829.05 billion and its trading volume was down by 23.36 per cent to $47.54 billion, according to data from Coinmarketcap.com at 8.50 am.
Today’s top gainer was BinaryX (BNX); it was up 8.3 per cent at $170.20. The top loser was UNUS SED LEO (LEO), which was trading at $3.88 with a loss of 8.19 per cent in the last 24 hours to Friday morning.
Bitcoin: BTC fell 1.39 per cent to $16,502.66.
BTC was trading with losses for most part of November 24 and its price and trading activity was highly volatile, despite its trading volume being down.
Its lowest intraday trading price was $16,493.69, while its volume was down by 24.57 per cent at $24,675,795,194.
Ethereum: Ethereum’s price fell 1.04 per cent to $1,187.16 in the last 24 hours to Friday morning.
Although at one point around 12.40 pm on November 25, ETH was trading with gains, it however could not be sustained and ultimately ETH fell below the $1,200 mark. ETH trade too like BTC was highly volatile.
The lowest price for ETH was $1,185.37. ETH’s trading volume was down by 21.79 per cent at $8,823,467,427.
Other Altcoins: Solana’s (SOL) price was down by 3.1 per cent at $14.05 today.
Ripple (XRP) was up by 3.38 per cent at $0.3954 and its 24-hour trading volume was up by 21.47 per cent at $1,269,615,627.
Cardano (ADA) was down by 3.59 per cent to $0.3085. Cardano’s 24-hour trading volume was down by 32.46 per cent to $219,608,179.
Binance (BNB) was up by 0.07 per cent to $298.53. Its 24-hour trading volume was down by 46.46 per cent at $1,101,612,862.
Dogecoin fell 1.41 per cent at $0.0814. Its 24-hour trading volume was down by 34.77 per cent at $350,435,439.
Shiba Inu was down by 1.62 per cent to $0.000008935.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) fell 3.6 per cent to $6,032.29. Its 24-hour trading volume was down by 37.72 per cent at $14,692,636.
Avalanche (AVAX) was down by 5.05 per cent at $12.59 and its 24-hour trading volume was up by 30.13 per cent at $142,369,102.
Aave (AAVE) was trading with a loss of 2.58 per cent at $57.34 and its 24-hour trading volume was down by 37.33 per cent at $58,362,715.