The major crypto coins were on Monday, November 1, witnessed some downfall put picked up the pace thereafter. Over the last 24 hours, Bitcoin gained 2.30 per cent and was priced at $62,196.16 per unit. During the day, Ether, the second largest cryptocurrency after Bitcoin rose to as much as $4,343.31 per unit. This altcoin was up by 2.32 per cent over the course of the last day. In recent weeks, the cryptocurrency markets have seen a steep rise, with memecoin Shiba Inu skyrocketing up to 160 per cent last week. Shiba Inu became the ninth most traded coin according to CoinMarketCap data as of Monday. On this day, it was trading at $0.00007078, up by 10.09 per cent in the last 24 hours.
“The weekend remained a muted affair for the cryptocurrency market. We saw Bitcoin and most of the other large cryptocurrencies hovering around their crucial support levels. The total market cap stayed close to the $2.6 trillion mark. The largest altcoin, Ether, showed significant potential even after settling a bit lower than its recent all-time high. After a terrific rally over the past week, the meme-coin, Shiba Inu, finally settled down,” said Edul Patel, CEO and co-founder of global crypto trading platform Mudrex.
The global crypto market cap over the last 24 hours was standing at $2.66 trillion, data from CoinMarketCap showed. This was an increase of 2.76 per cent as compared to Sunday. However, the total crypto market volume over the last 24 hours stood at $136.13 billion. This was down by 10.21 per cent as compared to the last day. The total volume in DeFi was standing at $17.50 billion, 12.86 per cent of the total crypto market 24-hour volume, according to data available with CoinMarketCap. “The volume of all stable coins is now $104.84 billion, which is 77.01 per cent of the total crypto market 24-hour volume,” the platform said in an update.
Experts at the ZebPay Trade Desk said that Bitcoin was now facing a “stiff psychological resistance” at $63,000 but might touch another high if it managed to cross this level and break the $67,000 mark.
“Currently, the asset is consolidating and trading in a range from $60,000 to $62,500. If the price holds the support then the bulls may resume the up move, if the price breaks the support then we may expect further downfall and the prices may slide to the next support level of $52,500. ,” added the Zebpay Trade Desk.
Meanwhile, on Monday, ElonDoge DAO was the top gainer in the crypto market. The altcoin surged up to 2,745.72 per cent, priced at $57.13. Vybe occupied the second spot, priced at $0.8622 , and up by 1,314.13 per cent over the last 24 hours. GreenMoonZilla, valued at $0.00000001183 per token, came third with a surge of 479.99 per cent in the last day.
As far as losers were concerned, the top spot went to Squid Game, which had surged to record highs after it was lost on October 20. The price of one token went down by 99.98 per cent and was trading at $0.005937. Monster Grand Prix Token and BabyPumpkin Finance came second and third in the chart, decreasing by 70.89 and 67.46 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers (According to data from CoinMarketCap)
ElonDoge DAO: $57.13 – up by 2,745.72 per cent over last 24 hours
Vybe: $0.8622 – up by 1,314.13 per cent over last 24 hours
GreenMoonZilla: $0.00000001183 – up by 479.99 per cent over last 24 hours
BabyCare: $0.0000000234 – up by 350.92 per cent over last 24 hours
ALL BEST ICO: $0.000419 – up by 225.33 per cent over last 24 hours
EverestCoin: $0.00001774 – up by 162.64 per cent over last 24 hours
Top 6 Cryptocurrency Losers (According to data from CoinMarketCap)
Squid Game: $0.005937 – down by 99.98 per cent over last 24 hours
Monster Grand Prix Token: $0.0724 – down by 70.89 per cent over last 24 hours
BabyPumpkin Finance: $0.000003959 – down by 67.46 per cent over last 24 hours
Auxilium: $0.002686 – down by 66.38 per cent over last 24 hours
Misty Inu: $0.0009009 – down by 55.72 per cent over last 24 hours
IceCube Finance: $16.18 – down by 55.16 per cent over last 24 hours
Commenting about investing in cryptocurrency like Bitcoin and Ether, Edul Patel said, “Over the coming 24 hours we would likely witness the trading volumes shooting up. The (crypto) market is currently filled with a strong positive momentum, and this could be a good opportunity for the bears and the whales to dump a lot of illiquid crypto currencies. Investors should hold themselves back before investing in any random coin aiming for a 100x return in such scenarios.”