Crypto Market Update Nov 24: Canton, Hedera & Telcoin Top Gainers

Crypto Market Update: IRYS on Binance, End of DOGE & US Shutdown News

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.04 trillion, marking a 0.8% rise in the last 24 hours.

• Daily trading volume reached $134 billion

• Bitcoin remains the leader with a 57% dominance, while Ethereum holds a 11.1% share.

• A total of 19384 cryptocurrencies are currently being tracked.

• The largest gainers in the industry are Polkadot and XRP Ledger Ecosystem.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin is currently priced at $86445, representing a 0.85% rise in the past 24 hours. With $60 billion in trading volume and a $1.7 trillion market cap.

• Ethereum trades at $2779.5, dips 0.73% in the last 24 hours, with a $335 billion market cap and $21 billion in trading volume.

Top 5 Trending Coins in 24 Hours:

• Planck (PLANCK) at $0.07310, surging 63.54% with a TV $22.62M.

• Bitcoin (BTC) at $86,588.72, posting a modest 1.01% daily gain, supported by TV $60.44B .

• Tether Gold (XAUt) sits at $4,036.33, dipping 0.41% with TV $11.88B.

• Ethereum (ETH) at $2,788.04, down 0.45% recording a TV $21.08B.

• Yooldo (ESPORTS) is priced at $0.4028, slipping 0.87% with a notable TV $134.77M.

Top 3 Gainers:

• Canton (CC) at $0.08517, rising 10.65% with a trading volume of $330.24 million.

• Hedera (HBAR) at $0.1465, gaining 9.78%, with trading volume of $488.29 million

• Telcoin (TEL) at $0.005365, up 7.80% with trading volume of $3.01 million.

Top 3 Losers:

• Aster (ASTER) is priced at $1.10, drops 7.79% with a trading volume of $577.7 million.

• Pump.fun (PUMP) trades at $0.002514, losses 7.71% supported by a trading volume of $179.6 million.

• Dash (DASH) is currently at $55.48, dips 5.84%, with a trading volume of $216.1 million

Stablecoins and Defi Update:

• Stablecoins hold a market cap of $309 billion with $93.3 billion in trading volume, representing no change.  

• The DeFi market cap stands at $104 billion, up 0.2% in the last 24 hours, with a trading volume of $5.69 billion. DeFi dominance remains at 3.4%.

Fear and Greed Index Today

Source: Alternative Me

The crypto Fear & Greed Index shows Extreme Fear at 19, indicating high market uncertainty and cautious investor sentiment. This suggests traders are worried about price volatility and broader market weakness. Yesterday’s score was 13, even deeper Extreme Fear. Today’s slight rise suggests mild stabilization as selling pressure temporarily eases, though confidence remains low.

Latest Market News Today

1. Trump Administration Confirms Early End of DOGE Agency:

The Trump administration has confirmed the early shutdown of the Department of Government Efficiency. OPM Director Scott Kupor stated the agency “doesn’t exist” anymore, ending its mandate eight months ahead of schedule.

2. US Adds $2.1 Trillion in Debt Since DOGE Formation:

The US has added over $2.1 trillion in new debt since the Department of Government Efficiency launched on January 20, averaging a massive $6.5 billion in borrowing every single day.

3. Vitalik Says FTX Failed Where Ethereum Stands Strong:

At Devconnect ARG, Vitalik Buterin highlighted FTX as a warning against centralized trust, saying Ethereum’s transparent, community-driven model ensures verifiability, neutrality, and shared freedom instead of dependence on a single entity.

4. Stablecoin Glitch Sparked October 10 Crypto Crash, Says Tom Lee:

Tom Lee said a stablecoin’s sudden drop to $0.65 on October 10 triggered auto-deleveraging and mass liquidations, hurting market makers and liquidity, causing extended pressure on Bitcoin.

5. BlackRock Exec Says Bitcoin’s Payment Future Is Unlikely:

BlackRock Robbie Mitchnick said Bitcoin’s strength remains as digital gold, not payments. He noted scaling limits, adding that stablecoins are already succeeding in remittances, corporate transfers, and settlement use cases.

6. Busy Week Ahead for US Economic Data:

The US faces a short yet eventful week, with key reports on inflation, retail sales, GDP, housing, and consumer confidence due before Thanksgiving, as markets close Thursday and shorten hours Friday.

7. US Delays Key Inflation and Jobs Data Ahead of Fed Meeting:

The US Labor Department has delayed October and November CPI and employment reports, now due December 18, meaning the Federal Reserve will meet without this crucial economic data.

8. Cardano Faces Brief Chain Split After Code Bug:

Cardano experienced a short chain split on Friday after a faulty ADA delegation triggered an old code bug. Nodes diverged briefly, and founder Charles Hoskinson confirmed the FBI is investigating.

9. U.S. Shutdown Costs $11B, But No Recession Risk: Bessent:

Bessent said the U.S. economy lost $11 billion due to the recent government shutdown, but emphasized the nation remains stable, resilient, and not at immediate risk of entering a recession.

10. Binance Alpha to List Irys (IRYS) on November 25:

Binance Alpha will debut Irys (IRYS) on November 25. Eligible users can claim airdrops using Alpha Points via the Alpha Events page once trading begins. More official updates will follow soon.

CoinGabbar’s Opinion

The market shows mixed signals, with overall gains but strong fear sentiment, meaning caution is essential. While top coins like Bitcoin remain stable, sharp moves in gainers and losers highlight ongoing volatility. Short-term trading may be risky, but disciplined, long-term investors could find selective opportunities. Always assess risk and avoid emotional decisions.

Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any financial losses.