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24 Hrs Crypto Update, Jan 22: Global Crypto Market Became Highly Volatile

  • The global cryptocurrency market became unpredictable because of whale movements.

  • The prices of BTC, ETH, DOGE, and ADA remain highly volatile.

23 Jan 2023 By : COIN GABBAR
24 Hrs Crypto Update

The broader crypto market became volatile and showed up and down trend in the last 24 hours. As a result, Bitcoin, Ethereum, and Shiba Inu prices remain highly unpredictable. 

At the time of writing, the global cryptocurrency market cap has surged 0.4% in the last 24 hours to $1.08 trillion. As per CoinGabbar data, the total crypto market volume in the last 24 hours was $70.04 billion.

The crypto market leader, Bitcoin price is currently trading at $22,793. This follows a 0.46% decrease in the last 24 hours. As a result, its market capitalization stands at $438.54 million. 

As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,637.4, which increased by 0.64% in the last 24 hours. 

Cryptocurrencies Price Action

The price of Polygon (MATIC) has increased by 1.7% in the last 24 hours. MATIC is currently ranked 11th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of MATIC was trading at $1.007.

In addition, the price of Solana decreased by 0.6% in the last 24 hours. SOL is currently ranked 10th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the SOL price was trading at $24.39.

Furthermore, Shiba Inu (SHIB) continues to gain momentum and is currently trading at $0.00001218. It increased by 2.7% in the last 24 hours.

What Turns the Crypto Market Volatile?

The global crypto market became volatile because of the massive movement of large whales. As per reports, the whales became active and began buying & selling assets at market prices, assisting the market in regaining a volatile momentum.

Major Events Around the World
  • Mars Hub, the original Terra lending protocol, has announced that it would launch its independent Cosmos application chain on January 31, as well as give MARS tokens to customers who hold it through two Terra Classic snapshots.

  • As per court filings, the first hearing in Genesis Capital's bankruptcy case will be held on January 23. The case will be heard by Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York.

  • Elon Musk, a fan of Dogecoin, has hinted in a recent tweet about a "higher cost" Twitter Blue subscription that will be free of advertisements.

COINGABBAR Views: If the current trend continues, the market will remain volatile. The volatility trend in the market has persisted for some time and appears to be continuing, as indicated by the current influx.

Also read: Can Ethereum Reach $2000 After Bitcoin's $23K Rise?