Bitcoin Flat, Ethereum Falls, Other Tokens Move Lower
- December 26, 2022
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Major cryptocurrencies moved lower on Monday. The global crypto market cap stood at $810.1 billion, with a volume of $21.4 billion in the past 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, traded flat at $16,849.9. Its market value stood at $324.2 billion. The trade volume was at $11.7 billion. The token has risen 0.3 percent in the past seven days.
“Bitcoin remained under the $17,000 level over the weekend as prices continued to consolidate despite earlier gains. Over the past few days, the price of BTC has faced a rejection on both sides indicating the indecisiveness among the market participants. If BTC can close above $16,900 level, it is likely to encourage resumption of prior recovery,” said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.1 percent to $1,220.9 with a market capitalisation of $149.2 billion. The trade volume of Ethereum was nearly $4 billion in the last 24 hours. The token has climbed 2.2 percent in the last seven days.
On Ethereum, Patel said, “On the other hand, Ethereum traded sideways over the weekend. ETH has not yet accumulated enough power for a further move. It is trading in a narrow range with neither bullish nor bearish signals. If the rate fixes above the support level $1,230 we may see an upward move.”
Dogecoin | Meme-based virtual currency, Dogecoin, fell nearly two percent on Monday. Its market value stood at $10 billion. The trade volume was at $430.2 billion.
Shiba Inu | Shiba Inu fell 0.6 percent with a market capitalisation of $4.6 billion. The trade volume was $59.4 million in the last 24 hours.
Solana | Solana slipped 0.6 percent to $11.4 with a market capitalisation of $4.2 billion. The trade volume of Solana was $108.4 million in the last 24 hours.
Polygon | Polygon traded flat with a market capitalisation of $6.9 billion. The trade volume was $120.1 million in the last 24 hours.