A day after popular cryptocurrency Shiba Inu scaled record highs over the weekend to become the 11-biggest altcoin on Sunday, the global crypto market cap was soaring at $2.59 trillion on Monday, October 25, up by 1.89 per cent over the last 24 hours, data showed on this day. The total volume of the crypto market over the last day stood at $2.59 trillion, which pointed out that there was an increase of 1.86 per cent over the course of the last 24 hours.
According to information available at CoinMarketCap, the total volume in DeFi was $11.54 billion, which makes up 11.44 per cent of the total crypto market volume in the last 24 hours.
Bitcoin, which is at present one of the most popular cryptocurrencies globally, surged after a weekend loss on Monday by 2.83 per cent over the last 24 hours. The price stood at $62,637.30 for one Bitcoin at the time of writing this article. On Wednesday, the price of one Bitcoin stood at an all-time high of around $66,900.
“Bitcoin dipped slightly below the $60,000 mark over the past 24 hours, but this was quickly followed by a swift rebound. It appears there is relatively strong buying pressure between the $57,000-$59,000 range, with investors eager to buy on any dips. The majority of the other large cap cryptos remained relatively stable over the weekend, trading within a tight 4 per cent band,” said CoinDCX Research Team.
Shiba Inu, one of the emerging altcoins, has shown a record increase of 50 per cent through 10:10 a.m. New York time on Sunday, according to media reports.
“The meme coin, Shiba Inu, continues its dream run over the past 24 hours. A huge buying volume kept the coin pumped up. Over the coming 24 hours, we could likely witness the bears gaining steam. The traded volumes will go higher as nations come out of the weekend mode,” said Edul Patel, CEO and Co-founder, Mudrex.
“The one exception would be Shiba Inu which surged to a new record high, jumping over 50%. This was, however, quickly overshadowed by Elon Musk’s confirmation that he did not have a stake in the cryptocurrency — resulting in a sharp correction of up to 25%. As we enter the new week ahead, altcoins look poised for further gains, having consolidated over the past two days,” added CoinDCX Research Team.
In this regard, one should keep in mind that there have been changes in the top market gainers and losers over the course of the last 24 hours. On Monday, the biggest gainer of the crypto market was UpCake. The price of this altcoin at the time of writing this article was $0.0002933, up by 590.38 per cent. The second spot was bagged by Shibanomics. This cryptocurrency was trading at $.00000001696 on Monday, the value which went up by 537.22 per cent over the past 24 hours.
DogeZilla was the third top gainer in the crypto market. In the last 24 hours, the value of it went up by 286.35 per cent. The value of one DogeZilla coin at the time of writing this article was $0.
As far as losers were concerned, Wolf Safe Poor People was on the top of the list, down by 99.99 per cent and trading at $0.0000000005. The second and the third spot went to French Connection Finance and HOQU, which were down by 69.16 per cent and 63.06 per cent respectively.
Top 6 Cryptocurrency Gainers (According to data from CoinMarketCap)
UpCake: $0.0002933 – up by 590.38 per cent over last 24 hours
Shibanomics: $0.00000001696 – up by 537.22 per cent over last 24 hours
DogeZilla: $0 – up by 286.35 per cent over last 24 hours
GMR Finance: $0.0000002216 -up by 265.80 per cent over last 24 hours
SafeCap Token: $0.006706 – up by 264.86 per cent over last 24 hours
Fuma Finance: $2.81 – up by 213.06 per cent over last 24 hours
Top 6 Cryptocurrency Losers (According to data from CoinMarketCap)
Wolf Safe Poor People: $0.0000000005 – down by 99.99 per cent over last 24 hours
French Connection Finance: $0.000008593 – down by 69.16 per cent over last 24 hours
HOQU: $0.002162 – down by 63.01 per cent over last 24 hours
Smartpayment: $0.000003159 – down by 51.68 per cent over last 24 hours
Polysage: $42.31 – down by 46.86 per cent over last 24 hours
Everest Coin: $0.000002538 – down by 43.24 per cent over last 24 hours
“Over the coming 24 hours, we could likely witness the bears gaining steam. The traded volumes will go higher as nations come out of the weekend mode,” predicted Edul Patel on the cyrptocurrency trend.