The global cryptocurrency market cap on Wednesday, November 3, was standing at $$2.75 trillion on a day the world’s largest crypto coin Bitcoin crossed the $63,000 mark, but hovered around the borders. At the time of writing this article, the value of one Bitcoin stood at $62,979.03, registering a loss of 0.44 per cent over the last 24 hours. On the other hand, the crypto market volume was down by 9.19 per cent over the course of the last 24 hours, data available at CoinMarketCap showed. The total volume of the crypto market where the coins were traded over the past 24 hours was $129.58 billion at the time of writing this aricle.
“Over the years it has been observed that the month of November has historically been the best month for Bitcoin with an average ROI of 66%. BTC has broken out of the handle of the cup and handle pattern and is expected to go into a price discovery mode. An immediate support can be expected at $58K level and the next support at around the $53K mark,” said the WazirX Trade Desk while commenting about Bitcoin.
On the other hand, Ethereum or Ether broke its previous record of last week and crossed the $4,500 mark. One coin of Ether was priced at $4,563.98, up by 2.72 per cent over the last 24 hours.
“Ethereum has been on a tear. Prices have broken their previous all-time high, reaching US$4,600 as of 7.30am IST. The rally is likely fueled by continued growth of institutional interest in the digital asset — as demonstrated by the CME’s recent announcement of its launch of a Micro Ether futures on Dec 6. Upon regulatory approval, it will significantly increase the crypto’s accessibility to a broader range of market participants, potentially serving as another catalyst for the next leg up. Going into 2022, we are optimistic of a sustained bull run for Ethereum, barring unforeseen detractors that might push this trajectory off-course,” said the CoinDCX Research team. Ethereum had last week broken its record to reach a lifetime high of $4,400.
Meanwhile, Chain emerged the top gainer in the crypto market on Wednesday. The altcoin surged up to 928.56 per cent, priced at $4.54. Lil Floki occupied the second spot, priced at $0.0000000101 and up by 695.80 per cent over the last 24 hours. GreenMoonZilla, valued at $0.0000003442 per token, continued its upward trend and came third with a surge of 621.47 per cent in the last day.
As far as losers were concerned, the top spot went to Elonomics. The price of one token went down by 92.19 per cent and was trading at $1.81. ZeeLoop Eco Reward and BabyCare came second and third in the chart, decreasing by 79.99 and 78.92 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers (According to Data from CoinMarketCap)
Chain: $4.54- up by 928.56 per cent in last 24 hours
Lil Floki: $0.0000000101 – up by695.80 per cent in last 24 hours
GreenMoonZilla: $0.0000003442 – up by 621.47 per cent in last 24 hours
Hertz Network: $0.0008218 – up by 556.82 per cent in last 24 hours
Squid Game: $0.01887 – up by 478.72 per cent in last 24 hours
SafeAffinity: $0.00001128 – up by 472.33 per cent in last 24 hours
Top 6 Cryptocurrency Losers (According to Data from CoinMarketCap)
Elonomics: $1.81 – down by 92.19 per cent in last 24 hours
ZeeLoop Eco Rewards: $0.00008105 – down by 79.99 per cent in last 24 hours
BabyCare: $0.000000004129 – down by 78.92 per cent in last 24 hours
Granny Shiba: $0.000000007955 – down by 74.98 per cent in last 24 hours
ElonDoge DAO: $21.18 – down by 70.13 per cent in last 24 hours
Ethereum Meta: $0.000001646 – down by 69.40 per cent in last 24 hours
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