The global cryptocurrency market cap on Friday, November 10, was standing at $2.86 trillion. This was up by 1.56per cent over the course of the last day, crypto tracking CoinMarketCap data showed. The surge was attributed to the rising price in the crypto coins over the past few days. Shiba Inu prices continued a steady run for the second straight day on Friday, up by 3.95 per cent over the last 24 hours. One SHIB token was priced at $0.00005387 on the day amid an increasing demand among investors. However, Bitcoin, after touching a lifetime high on two days ago, slumped below the $65,000 mark on Friday. The coin, which was trading at over $67,000 earlier, was priced at $64,998.54 on the day, slightly up by 0.44 per cent over the last 24 hours.
“The cryptocurrency market remained under the influence of bears over the past 24 hours. Almost all of the top 20 cryptocurrencies ended in red, apart from the meme coin, Shiba Inu, which went higher driven by a huge buying pressure. We saw the total traded volumes across the spectrum rise by more than 21 per cent,” said Edul Patel, CEO and co-founder of Mudrex, on the fall in major crypto coins.
“Following a series of new highs in a short span of a week, bitcoin dipped slightly to US $64.9k and ethereum mirrored a similar trend, falling to US$4.7K. Through a week of highs and lows, questions of Bitcoin’s volatility and threats of the bubble bursting have re-emerged, threatening the growing credibility of the digital asset industry. Yet, proving critics wrong, analysts have calculated how Bitcoin instead has a deflationary effect, delivering 99.996 per cent deflation in the past decade,” said the CoinDCX Research Team.
Ethereum too came down from its all-time high of $4,800 on the day. One Ethereum altcoin was priced at $4,767.67 at the time of writing this article, up by 2.52 per cent in the last 24 hours. “Ethereum had corrected slightly after breaching the $4800 mark and making an All time high. ETH token continues to traverse along the ascending channel pattern. We could expect immediate support at $4430 level and the next resistance at the $4900 mark,” said the WazirX Trade Desk.
“Volumes however seem to show no respite, and we continue to see strong inflows across both these assets, and this is probably due to the fact that any correction from these levels makes both BTC and ETH look like attractive assets,” said the ZebPay Trade desk. The total crypto market volume over the last 24 hours was $126.46 billion, according to CoinMarketCap.
Pancake Games was the top gainer in the global crypto market, the data on CoinMarketCap showed. Over the last 24 hours, the value of one token increased by 1,841.44 per cent. One token was priced at $0.00002268, as per data. Angry Squid occupied the second spot in the top gainers’ pack, priced at $0.00000003704 and up by 1,201.65 per cent over the last 24 hours. Elonomics, valued at $34.98 per token, came third with a surge of 574.64 per cent in the last day.
As far as losers were concerned, the top spot went to LevelUp Gaming. The price of one token went down by 100.00 per cent and was trading at $0.009488 on Friday. StrongHands Finance and Tipsy Santa came second and third in the chart, decreasing by 86.28 and 81.67 per cent respectively during the course of the last day.
Top 6 Cryptocurrency Gainers (According to Data from CoinMarketCap)
Pancake Games: $0.00002268 – up by 1,841.44 per cent in the last 24 hours
Angry Squid: $0.00000003704 – up by 1,201.65 per cent in the last 24 hours
Elonomics: $34.98 – up by 574.64 per cent in the last 24 hours
GreenMoonZilla: $0.03441 – up by 430.78 per cent in the last 24 hours
Sombra Network: $0.08852 – up by 286.39 per cent in the last 24 hours
HUSKY X: $0.00000000713 – up by 285.40 per cent in the last 24 hours
Top 6 Cryptocurrency Losers (According to Data from CoinMarketCap)
LevelUp Gaming: $0.009488 – down by 100.00 per cent in the last 24 hours
StrongHands Finance: $0.4214 – down 86.28 by per cent in the last 24 hours
Tipsy Santa: $0.0008376 – down 81.67 by per cent in the last 24 hours
Frieza Inu: $0.000000003393 – down by 78.91 per cent in the last 24 hours
Welnance finace: $0.4224 – down by 74.76 per cent in the last 24 hours
Shibamon: $0.0000005603 – down by 69.96 per cent in the last 24 hours
“Despite the dip across the spectrum, long term investors need not worry as this profit booking session is commonplace after the market reaches new highs. The coming couple of days are likely to remain range-bound for the cryptocurrency market. It will be interesting to see if the top cryptos are successful in holding the support levels over the weekend,” said EdulPatel in a note.
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