(Bitcoin and ethereum experienced slight gains, global cryptocurrency market stood around $943.7 billion )
The crypto market was almost stable yesterday and has not shown some significant movements. However, people looking for the latest crypto news should know there was a slight gain in some cryptocurrencies, such as Bitcoin and Ethereum.
The global market cap of the crypto industry stood at $943.7 billion, and the total trading volume also increased by 2.7% to $33.2 billion. Here, the top trending crypto was Pancakeswap, which is a decentralized exchange.
The top-gaining crypto in the past 24 hours is TerraClassic, which shows a gain of around 13.1% to $0.03313, and the top-losing crypto was Toncoin, which declined by 1.9% to $1.3 in the past 24 hours.
Key points
- The global market cap of the crypto industry is hovering around $943.7 billion, while at the start of the year, capitalization was over $2 trillion.
- The top-gaining crypto in the past 24 hours is TerraClassic, with a gain of 13.1%.
- The top loser was Toncoin which declined around 1.9 % in the past 24 hours.
Cryptocurrency Prices
Bitcoin was a bit volatile; it had crossed the $19,500 level in the initial stage, but then, there was a quick fall to $19,412 within an hour, but it recovered quickly. The trading volume of Bitcoin increased by 6.3% to $17.4 billion.
Overall, the price of Bitcoin goes up by 0.40% to $19,442.
Ethereum has also shown the same movement as Bitcoin; as usual, it was volatile but not very huge. The price of Ethereum went down from $1325 to $1316, but it recovered quickly. The trading volume also increased by 0.87% to $5.8 billion.
The price of Ethereum went up by 0.96% to $1322 in the last 24 hours.
Other Altcoins
The price of Ripple goes up by 3.8% to $0.5306, whereas its trading volume also goes up by 8.06% to $1.8 billion.
Cardano has shown a slight upward movement of 0.81% to $4,237; the trading volume also increased by 3.2% to $295.3 million.
Solana also rose by 1.7% to $33.04.
Meme Coins
Dogecoin rose by 1.2% to $0.0622, and its trading volume dropped by 2.5% to $159.2 million.
Shiba Inu goes up by 0.4% to $0.00001102.
How the crypto market will perform in 2023
Bitcoin and the crypto market have taught us that we can not accept anything 100 % in the short or long term. Despite the optimistic predictions, 2022 has been the worst year for the crypto market.
We have seen a massive change in the crypto market in the past few months. After dealing with significant losses this year, the crypto industry will regroup in 2023. The crypto industry hopes for a strong comeback as new regulations can come into force, making cryptocurrency more secure than before.
Bitcoin and Ethereum, like bigger currencies, are performing well, and crypto investing is getting optimistic as winter approaches. The crypto space is abundant with so many coins available around there, and many of them could be a better choice than bitcoin. If we look for crypto predictions for 2023, it’s the best time to invest, as the crypto market is slowly moving in the positive direction.
Epic battles over-regulation
Nothing can be said exactly, but 2023 could be when crypto regulations could climax. There are going to be strict regulations this year, which can be necessary for large investors.
A Lot More Investors Will Adopt Bitcoin
According to Coindesk, more people will be aware of the use of Bitcoin by the end of 2023. The increased awareness of cryptocurrencies will also help in their wider adoption. Bitcoin is one of the largest cryptocurrencies by market capitalization. The improved understanding of the crypto industry, regulations, and bank collapse can be significant reasons for cryptocurrency growth.
FAQs
Q. Why are Bitcoin and Ethereum going up?
Ans. The crypto market is slowly recovering after a heavy fall. The market is gradually moving in the green zone and can turn bullish soon.
Q. Is it a good time to invest in Bitcoin?
Ans. Yes, the market is recovering after a long season of fall. It’s a good time to invest in crypto as the market will soon enter the green zone.
Q. What is a limit order in cryptocurrency trading?
Ans. A cryptocurrency limit order is buying a cryptocurrency at specific prices. This means cryptocurrency will be only bought if it reaches a specific price.
Q. Does crypto have a future?
Ans. Though cryptocurrencies have not performed well this year, they can soon recover and boom in 2023.
