Cryptocurrency Update: Top 5 Cryptos that Surge up to 690% in 24 Hours.

More cryptocurrencies have been on the rise lately. The global crypto market cap at the time of this article stood at $1.99 trillion which points to a 7.60 per cent decline over the course of the last day, according to information on CoinMarketCap. However, contrary to this, the total crypto market volume over the last 24 hours has aggregated to a total of $101.78 billion at the time of writing this article. This indicated a 20.13 per cent increase for the same. With that said, there are a few cryptocurrencies, other than the usual Bitcoin, who are which are worth mentioning as they have seen significant gains over the last 24 hours as per information on CoinMarketCap.

  1. Aqua Pig — $ 0.000000000014–689.25 per cent change over the last 24 hours
  2. Gravitoken — $0.02383–263.75 per cent change over the last 24 hours
  3. CONTRACOIN — $0.2553–237.84 per cent change over the last 24 hour
  4. SafeBull — $0.00000001228–225.76 per cent change over the last 24 hours
  5. InfinityCake — $0.0000007175–192.92 per cent change over the last 24 hours
  6. On the other end of the cryptocurrency spectrum, we have the top ghost coins dominating the market. These include the likes of Bitcoin, Ethereum, Cardano and so on. It should be noted that a majority of the top coins, including Bitcoin, have displayed a tendency to trade red, especially at the time of this article. Bitcoin, Ethereum, Cardano, Binance Coin, all top coins in the market, have been trading red over the past 24 hours. In most of the cases, they have also been trading red over the course of the past 7 days as per information on CoinMarketCap.

As per the data that was analysed, Bitcoin was trading at $45,093.11 which was 6.50 per cent down over the last 24 hours and 1.45 per cent up over the course of the week. The second most popular cryptocurrency, Ether was trading at $3,164.36 or an 8.09 per cent decline over the course of the last day. The coin was trading 1.58 per cent lower over the course of the last seven days. Cardano, Tether and Binance Coin took third, fourth and fifth place respectively.

Speaking on the performance of the top cryptocurrency, ZebPay Trade Desk said, “Bitcoin (BTC) has been fairly range-bound over the last couple of days, trading between $45,000 — $48,000. This seems to be a consolidating phase that the asset is operating in, and the bears are preventing the asset from crossing the $48,000 mark convincingly, making this a strong psychological resistance level for BTC.”

Apart from these, Dogecoin and SHIBA INU, the so-called ‘meme coins’, have garnered a lot of interest and attention over the past couple of months thanks to Tesla CEO and billionaire, Elon Musk. This all started when Musk took to Twitter to announce the arrival of his new Shiba Inu puppy that he named Floki. Soon after that both the Dogecoin and the SHIBA coin saw a dramatic jump in prices as the infamous ‘Musk’ effect took hold of the cryptocurrency market once again. This saw Dogecoin reach all the way to 9th place amongst the top crypto coins in the market. As of today it once again slipped down one space though and stood at a price of $0.2159 and was trading at 9.69 per cent down over the course of the past 24 hours.

The 30-share BSE Sensex on Monday closed at 58,490.93, down 524.96 points or 0.89 per cent, and the blue-chip Nifty50 was trading at 188.30 points or 1.07 per cent at 17,396.90. About 995 shares have advanced, 2308 shares declined, and 132 shares are unchanged.

This was the second consecutive session in which the market ended in the red. The market also opened flat in early trade- thanks to the mixed global cues. Tata Steel, JSW Steel, Hindalco Industries, UPL and SBI were the top Nifty losers. HUL, ITC, Bajaj Finserv, HCL Technologies and Britannia Industries were among the top gainers.

“Index continued to show profit booking for the second consecutive session and closed a day at 17397 with loss of more than one percent forming a bearish candle on the daily chart. The index has now immediate support at 17300 followed by 17200 zone which will be trend changing level on the downside if managed to hold above-said levels one can expect a good pullback failing to hold can change the immediate trend to down, on the higher side strong hurdle is coming near 17450–17500 zone also any move around said levels will be again profit booking opportunity,” Rohit Singre, Senior Technical Analyst at LKP Securities said.

Among sectors, except FMCG, all other sectoral indices ended in the red with the metal index down nearly 7 percent. The BSE midcap and smallcap indices fell nearly 2 percent each.

“Following high volatility and weak global sentiments, the domestic market ended in a bear grip with Metal and PSU Banks leading the downward rally. Global markets traded negatively as investors were cautious ahead of multiple central bank policy meetings scheduled this week. However, due to weak US job data and inflation increasing at a slower pace, Fed is not expected to hint on taper plans in the upcoming meeting,”Vinod Nair, head of Research at Geojit Financial Services said. In the backdrop of the upcoming US Fed Meeting, and other countries central banks meeting, Asian shares eased on Monday ahead of a week with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering. Holidays in Japan, China and South Korea made for a thin start. Early Monday, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped another 0.2 per cent, after shedding 2.5 per cent last week. Hang Seng fell 2.5 per cent in early trade.

On Friday, the equity benchmarks surged to fresh lifetime peaks on Friday but finished with modest losses, snapping their three-session winning streak, as investors rotated out of RIL, metal and IT stocks at higher levels. After gyrating 866 points during the day, the 30-share BSE Sensex settled 125.27 points or 0.21 per cent lower at 59,015.89. The broader NSE Nifty slipped 44.35 points or 0.25 per cent to close at 17,585.15, after touching an intra-day record of 17,792.95.