- Bitcoin goes through depreciation, and the price falls to the US $56,400 range.
- The Crypto market sees a positive change; market cap value reaches $2.56 T.
- Ethereum turns green, sees a 2.89% rise in market value for the last 24 hours.
- Binance Coin also shows improvement, hikes to 2.98% in the last 24 hours.
- Solar Energy and ALL BEST ICO stay as the top gainers in the last 24 hours.
Fluctuations in the crypto industry are unpredictable, and the same can be said about the last 24 hours. Yesterday, the top three coins in the list depreciated, while at the time of writing, excluding the first one, two are improving. Though the fluctuating prices, these three continue to occupy the top positions. Thus, some currencies have shown significant improvements, but still, they can’t challenge the mentioned coins’ dominance.
The value of the top three coins has a significant impact on the cryptocurrency’s market cap and volume. As witnessed during the last 24 hours, when these three showed signs of improvement, the market saw a positive tendency. The improvement in market cap for the last 24 hours was 0.01% which is better than yesterday, as it was negative.
Bitcoin sees further 0.63% depreciation
Bitcoin’s price at the time of writing was estimated to be in the 56,400 range. However, depreciation prevailed, following the bearish trend. It has seen a redness of 0.63% in the last 24 hours, 5.09% for the last seven days. Compared to Bitcoin, the next two in the list have seen improvement. Last week many predictions said that bitcoin was supposed to cross the $60K barrier but could not.
Instead of crossing the $60K barrier or retaining its value, it has shown redness, a surprise for predictors and investors. The market cap of bitcoin for the last 24 hours remained $1,065,594,881,395. At the time of writing, its volume for the last 24 hours was $36,546,370,089, which equals 647,575 BTC. The circulating supply of bitcoins in the market was 18,881,550 BTC.
Bitcoin has shown negative progress for the last seven days but could surge again like its previous improvements.
ETH and BNB turn bullish
In contrast to Bitcoin, Ethereum (ETH) and Binance Coin (BNB) have turned bullish showing big improvements. Ethereum turned green and, at the time of writing, showed an improvement of 2.89%. Its price was recorded to be in the $42,200 range. The price movements are expected to improve further as the greenness seems to don’t stop early. The recent metrics show that its overall performance for the last seven days has shown bullishness of 2.75%. Ethereum’s current market cap is estimated to be $503,727,656,401. Its volume for the last 24 hours is estimated to be $21,793,352,687 which is estimated to equal 5,125,244ETH.
The circulating supply of Ethereum at the time of writing is 118,463,980 ETH. Its overall performance for the last week has been satisfactory as it went through ups and downs but maintained its value.
BNB ranks third in the list of top three cryptocurrencies. The 2.98% increase in the last 24 hours has enhanced its price, which rose to the $582 range. For the last seven days, its performance is not on par with Ethereum but is significantly good, as it has shown a 0.94% greenness. The market cap of Binance Coin at the time of writing was estimated to be $97,244,770,247.
Its volume for the last 24 hours was $2,915,201,092 which equals 5,000,360 BNB. Its circulating supply was 166,801,148 BNB. The last seven days for Binance Coin have been overall good, and it has shown a green chart.
Unlike the topmost coin, BNB has shown much better results, while in comparison to Ethereum, it lags in the competition.
Dogecoin and Avalanche
Dogecoin (DOGE) and Avalanche (AVAX) have continued to contend for the tenth position in the list of top 10 coins. However, in a recent upset, Dogecoin has ousted Avalanche from the top ten and has gripped the tenth position in the list. At the time of writing, Dogecoin was holding tenth place while Avalanche held the eleventh position.
Dogecoin price has improved, and it is estimated to be $0.2225. The greenness that Dogecoin has shown for the last 24 hours is estimated to be 0.95%. In contrast to its performance in the 24 hours, it has shown a redness of 4.78% in the last seven days. The current market cap of DOGE is estimated to be $29,468,820,226.
Dogecoin’s volume for the last 24 hours was equal to $1,956,992,459 which equals 8,781,659,548 DOGE. Its overall performance for the last week was red in comparison to other weeks.
Avalanche has depreciated a position as Dogecoin ousted it. The current price of Avalanche, at the time of writing, is in the $120 range. It has shown a depreciation of 8.93% in the last 24 hours. In comparison, its past seven days have been much better, seeing a rise of 27.05%. Like its previous surges, it might soon revitalize and clench the tenth position in the list.
Top losers and gainers
For the last 24 hours, the top gainers were Electric Vehicle Direct Currency (EVDC), which made gains amounting to 680714711.13% in the last 24 hours, and Solar Energy (SEG) made a gain of 42842.74% in the last 24 hours.
The top losers in the list were FastSwap Fast, which made losses amounting to 98.88%, and Shockwave Finance, which turned red up to 98.58%.
As there are upsets seen in the crypto market, these revitalize the hopes of investors. The recent surge in the value of Ethereum and Binance shows the trust of investors in these currencies. The way these two and Dogecoin have shown improvement indicates that they might improve further in the days ahead.
The loss of value in the case of some currencies shows the tough competition, which makes it better for wise investors. However, this rise and fall will continue to challenge the investors’ nerves. Moreover, a word war between top influencers on Twitter could certainly affect prices.
After Changpeng Zhao (CZ) ‘s comment on DOGE users, centibillionaire Elon Musk urged funds withdrawal from centralized trading platforms (like Binance and Coinbase) so that Dogecoin holders control their private keys. Musk’s candid Twitter posts have often impacted the market as we have seen how DOGE prices were boosted sky-high by his memes and tweets; his Tesla tweets also caused the slump in Bitcoin prices.
CZ fired back, explaining the problem to Musk and his followers on Twitter. CZ clarified the issue on Yahoo Finance Live and included a story in The Guardian about the Tesla software glitch that resulted in a recall of about 12,000 vehicles.
Elon, we are pretty certain it is an issue with the latest #doge wallet. We are in communications with the devs. Apologies for any inconvenience that may have caused you.— CZ 🔶 Binance (@cz_binance) November 23, 2021
What happened here? 👀https://t.co/g2J50zqbEu
Should Musk’s over 62.5 million followers heed his trumpet call to abandon centralized trading platforms, would that be better for the crypto market? Please tell us in your comments below.