The broader crypto market became highly unpredictable.
Yesterday, the US Nonfarm Employment Report was also released.
The prices of BTC, ETH, XRP, and DOGE remain volatile.
At the time of writing, the global cryptocurrency market cap jumps 0.02% in the last 24 hours to $0.897 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $46.91 billion.
The crypto market leader, Bitcoin price is currently trading at $17,049. This follows a 0.7% increase in the last 24 hours. As a result, its market capitalization stands at $328.08 billion.
As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,289.3, which increased by 1.3% in the last 24 hours.
The price of Cardano (ADA) has increased by 1.4% in the last 24 hours. ADA is currently ranked 9th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of ADA was trading at $0.3181.
In addition, the price of XRP increased by 1.53% in the last 24 hours. XRP is currently ranked 7th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of XRP was trading at $0.394.
DogeCoin (DOGE) continues to fade its traction among cryptocurrency traders and influencers. It increased by 1.99% in the last 24 hours and is currently trading at $0.10112.
The global crypto market turns volatile because of the massive movement of large whales. Also, Nonfarm Payrolls in the US rose by 263,000 in November, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. October's reading got revised higher to 284,000 from 261,000.
In addition, the US equity market in its yesterday trading session also remains highly volatile, which again shows a correlation between the two markets.
On December 1, the world's largest brokerage firm, TP ICAP, announced that it has received a crypto-asset service provider license from the UK Financial Conduct Authority (FCA).
In a major development, Coinbase has alleged that Apple has blocked the latest release of its wallet, preventing users from transferring NFTs.
On December 1, payments giant Stripe announced an in-built and configurable fiat-to-crypto on-ramp. The new service will allow companies to enable their users to exchange fiat currency for cryptocurrency.
COINGABBAR Views: If the current trend continues, the market will most certainly fall further. The volatility trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.
Read also: How the U.S Non-Farm Payroll Data Will Impact the Crypto Markets?
