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Global Crypto Market Remain Stable As US Market Climb

  • Despite a strong rally in the US equity markets on Friday, BTC and the broader crypto market have remained rock solid with little volatility. 

  • Also, the flow of stablecoins has grown once again, indicating that major investors and whales are investing in stablecoins.


Global Crypto Market

The cryptocurrency market is struggling while the global 

Economy remains unstable. However, the cryptocurrency industry has shown unexpected resilience. As a result, the prices of Bitcoin (BTC), Ether (EHT), Cardano (ADA), and Ripple (XRP) all remain highly volatile.

At the time of writing, the global cryptocurrency market cap climb 1% in the last 24 hours to $1.11 trillion. As per CoinGabbar data, the total crypto market volume over the last 24 hours was $106.9 billion.

At the time of writing, the crypto market leader, Bitcoin price is trading at $21,322. This follows a 0.7% increase in the last 12 hours. As a result, its market capitalization stands at $408.71 billion. 

As per CoinGabbar statistics, ETH, the second largest cryptocurrency by market cap, is currently trading at $1,643.1, which decreased 0.9% in the last 12 hours. 

Top Cryptocurrencies Price Action

The price of Solana (SOL) has increased by 4.32% in the last 12 hours. SOL is currently ranked 10th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of SOL was trading at $35.16. 

At the time of writing, the price of Decentraland (MANA) has climbed by 3.5% in the last 12 hours. MANA is currently ranked 48th in CoinGabbar's top cryptocurrency ranking in terms of market cap. At the time of writing, the price of MANA was trading at $0.7185.

Leo Token (LEO) continues to gain traction among cryptocurrency traders and influencers. It increased by 3.4% in the last 12 hours and is currently trading at $4.37.

What Turns Crypto Market Stable?

Despite a strong rally in the US equity markets on Friday, Nov 4, Bitcoin (BTC) and the broader crypto market have remained rock solid with little volatility. As a result, what we are seeing today may be the indication of Bitcoin's long-term decoupling from the US equities market. If the weakening of the correlation between crypto and equities continues, this might be a positive indication for the broader crypto market.

Major events around the world

  • On November 5, Ethereum co-founder Vitalik Buterin announced an updated Ethereum roadmap in a series of tweets. The Ethereum roadmap, in particular, now includes a new phase termed "The Scourge," which focuses on assuring reliable and fair credibly neutral transaction inclusion.

  • Leading NFT peer-to-peer marketplace Opensea will mint an NFT collection for the Haas F1. The agreement was announced on November 4 by Haas, the only American-owned team competing in the FIA F1 World Championship.

  • On November 4, Mastercard announced the addition of seven startups from around the world to its Start Path program.

COINGABBAR VIEWS: If the stable momentum trend has continued, fresh investments have increased. If the current situation persists, the market will most likely strengthen further. The market's positive trend has been observed after some time, and it appears to be continuing, as evidenced by the current influx.

Read also: BITCOIN PRICE ANALYSIS CMP-$21,300: Is Bitcoin's breakout just a trap?

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