Cryptocurrency update: On Wednesday, December 22, Bitcoin rose near the $50,000 mark before Christmas. This was the second day in a row that the price of the world’s largest cryptocurrency, by market capitalization, rose after a days-long decline. The cryptocurrency market in recent weeks has been in a slump due to the growing threat of the Omicron variant of Covid-19 as traders moved away from it. However, this trend has come to a halt this week as markets are back in the green as the holiday season approaches.
1 unit of Bitcoin, the world’s largest cryptocurrency by market price, rose to $49033.56. This is up 0.29 percent in the past 24 hours and 1.81 percent over the past seven days, according to global crypto-tracking website CoinMarketCap. “Bitcoin dominance is currently at 40.41 percent, down 0.47 percent on the day,” the platform stated in a note on its website.
Ether, the world’s largest altcoin, has also risen over the past seven days. The data showed that one Ether or Ethereum coin was worth $4,026.07 at the time of writing this article. This has increased by 0.00 percent in the past 24 hours and by 4.44 percent over the past seven days.
Total trading volumes decreased during the last trading session. The cryptocurrency market is up nearly 5 percent, indicating a recovery across the spectrum. The largest cryptocurrency by market capitalization, Bitcoin, surpassed $48,500 and the largest altcoin, Ethereum, remained around the $4,000 mark. Most of the other cryptocurrencies showed good gains. Among the top 20 cryptocurrencies, Terra’s LUNA coin remained the best performer. Bitcoin dominance has increased marginally indicating good momentum across the spectrum. We are likely to see a steady recovery over the next few days,” said Edul Patel, CEO and co-founder of Mudrex, the global cryptocurrency trading platform.
Also up during the day were Binance, Tether, Solana, Cardano, and all the other major cryptocurrencies. Memecoins Shiba Inu and Dogecoin have also seen their numbers rise.
The global cryptocurrency market has also felt a positive multiplier effect with more investors wanting to invest in risky assets. It has risen decently over the past 24 hours, according to the data. The global cryptocurrency market cap was $2.30 trillion at the time of writing, according to CoinMarketCap data. This was a 1.70 percent increase in the past 24 hours. However, the global cryptocurrency volume has dropped significantly over the past day. The total volume of coins traded reached $81.69 billion over the past day, down 13.99 percent according to the data.
SwapX became the biggest winner in the crypto package on Wednesday. Over the past 24 hours, the value of a single coin has increased by 616.82 percent. One token is priced at $0.2719, according to CoinMarketCap data. Flokifam and Cryptomafia were the other top gainers that took the following top spots on the day. On the other hand, $0.0412 Visor.Finance was the biggest loser in the global crypto package. The coin is down 95.59 percent on the day, according to the data. Gravitation Zero and Mello Token took second and third places, according to data from the same site.
Top 6 Cryptocurrency Earnings in the Last 24 Hours (According to Data from CoinMarketCap)
SwapX: $0.2719 – up 616.82 percent
Flokifam: $0.000000006683 – up 481.82 percent
Cryptomafia: $0.000000009453 – up 416.00 percent
Baby Cat Girl: $0.000935 – up 388.79 percent
Agent: $20.00 – up 185.08 percent
Htmoon FOMO: $0.000003605 – up 135.56 percent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Visto.Finance: $0.0412 – down 95.59 percent
Gravitation Zero: $0.2756 – down 89.15 percent
Mello Token: $0.0005647 – down 80.08 percent
Life DAO: $3.22 – 74.86 percent down
Doge Rise Up: $0.0000000003609 – down 66.59 percent
Snowbear: $26.83 – down 66.06 percent