The largest virtual currency Bitcoin was trading in the green on Monday, it was up 4.72 per cent at $44,045.69, the market cap of the Bitcoin stood at $828.90 billion. The cryptocurrency prices tumbled last week after China issues a notice cracking down on cryptocurrency, the notice banning all cryptocurrency said to have roiled the virtual currency market. In addition to this, uncertainty emanating from the Evergrande’s financial crisis also triggered a bear run in the cryptocurrency market. The rival currency Ethereum was trading at $3,139.8, up 9.75 per cent. Ethereum witnessed a dip of up to 2.86 per cent over the last one week, the market cap of Ethereum stood at $369.14 billion.
The prices of Bitcoin went slightly up after Jack Dorsey’s social media platform Twitter has officially enabled third-party bitcoin tipping services for iOS users, giving them the ability to seamlessly pay one another across the globe, nearly instantly.
“The weekends were a tad volatile for the cryptocurrency market. Thin volumes over the weekend usually allow a few large orders to influence the market in either direction. Now that the FUD around the banning of cryptocurrencies in China is leaving the market, we could expect the market to move towards fundamentals. The largest cryptocurrency by market capitalisation, Bitcoin, surpassed the $43,000 mark. Bitcoin dominance also moved higher. With BTC moving past a significant resistance level, most of the other top cryptocurrencies went higher as well,” Edul Patel, CEO and Co-founder, Mudrex- A Global Crypto Trading Platform said.
“As various equity markets start opening up on Monday, we could witness an increased volatility across the crypto spectrum. The total Crypto market capitalization went higher and now stands at $1.93 trillion. With the markets moving higher, the average traded volume went up by more than 8.3%, signaling a positive outlook for the week,” he added.
On Monday, all most all cryptocurrencies were trading in the green. The virtual currency Cardano was up 0.72 per cent, was trading at $2.26, the virtual currency witnessed a gain of 3.41 per cent over the last one week. Just like Cardano, Binance Coin was up 4.02 per cent at $354.65, the virtual currency witnessed a fall of 10.62 per cent over the last one week. The market cap of Binance Coin was standing at $59.91 billion.
According to Coinsmarketcap.com, The global crypto market cap is $1.97 trillion, a 5.75 per cent increase over the last day. The total crypto market volume over the last 24 hours is $114.41 billion, which makes a 23.34 per cent increase. The total volume in DeFi is currently $20.71B, 18.10 per cent of the total crypto market 24-hour volume. The volume of all stable coins is now $92.89 billion, which is 81.19 per cent of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 42.31 per cent a decrease of 0.40 per cent over the day.
“Among the altcoins, Cardano(ADA) seems to be holding strong after the recent bearish cycle. The trend indicates a mostly developed flag pattern. Once the trend breaks out from the top levels, we could see the prices soaring to $4.5 levels in no time. The ethereum competitor is fast living upto its expectations,” Siddharth Menon, COO, Wazir X said.
Here are the top 10 cryptocurrencies and their prices on September 27, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin $44,045 or (4.72 per cent) change in 24 hours
Ethereum $3,139.8 or (9.75 per cent) change in 24 hours
Cardano $2.26 or (0.72 per cent) change in 24 hours
Tether $1.00 or (-0.06 per cent) change in 24 hours
Binance Coin $354.65 or ( 4.02 per cent) change in 24 hours
XRP $0.9752 or (5.52 per cent) change in 24 hours
Polkadot $29.68 or (3.14 per cent) change in 24 hours
USD Coin $1.00 or (-0.06 per cent) change in last 24 hours