24 Hrs Crypto Update Jan 03Global Crypto Market Became Highly Volatile
The global crypto market became highly unpredictable.
The crypto market became volatile because of whales' movements.
The prices of BTC, ETH, SOL, and DOGE remain unpredictable in the last 24 hours.
Crypto Market Volatility Persists Amid Economic Uncertainty
The broader crypto market changes its trend after
a brief surge and remains unpredictable in the last 24 hours due to macroeconomic circumstances. As a result, the prices of Bitcoin, Ethereum, and Cardano are trading with high volatility.
At the time of writing, the global cryptocurrency market cap has dropped 0.3% in the last 24 hours to $0.839 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $32.34 billion.
The crypto market leader, Bitcoin price is currently trading at $16,670. This follows a 0.12% decrease in the last 24 hours. As a result, its market capitalization stands at $320.72 billion.
As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,217.2, which increased by 0.2% in the last 24 hours.
Cryptocurrencies Price Action
The price of Binance (BNB) has increased by 0.49% in the last 24 hours. BNB is currently ranked 5th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of BNB was trading at $246.4.
In addition, the price of Solana increased by 23.2% in the last 24 hours. SOL is currently ranked 17th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of SOL was trading at $13.69.
However, Shiba Inu (SHIB) continues to lose momentum and is currently trading at $0.00000815. It decreased by 0.33% in the last 24 hours.
What Turns the Crypto Market volatile?
The global crypto market turns volatile because of the massive movement of large whales. As per reports, following a brief surge, the whales became active and began buying & selling assets at the same time, assisting the market in regaining a volatile momentum.
In addition, the US equity market also remains volatile in its yesterday’s (Jan 03) trading session, indicating a correlation between the two markets.
Major Events Around the World
terra classic developers plan to seek assistance from Binance's Industry Recovery Initiative. While the crypto exchange has temporarily halted its LUNC Burn mechanism until March, developers working on the Terra Classic blockchain might get help from Binance.
The Australian city of Coolangatta has received its first Bitcoin ATM with integrated Lightning network features. The new ATM has been built at Coolangatta's The Strand shopping center and is now open to the public.
Leading decentralized finance (DeFi) application Sushi will phase out two products as part of wider plans to make the protocol more sustainable and profitable.
COINGABBAR Views: If the current trend continues, the market will remain volatile further. The volatility trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.
