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Global Crypto Market Cap Inched Up About 4% In 24 Hrs; Despite Gains Shiba Inu, Dogecoin Missed A Spot In Top 10 Cryptocurrencies

Global Crypto Market Cap Inched Up About 4% In 24 Hrs; Despite Gains Shiba Inu, Dogecoin Missed A Spot In Top 10 Cryptocurrencies
Written by publisher team

Abstract: Bitcoin is still the king of cryptocurrencies; Dogecoin, Shiba Inu gained more than 6% in the past seven days but failed to reach the top 10 by cryptocurrency market cap.

the Global market capitalization of cryptocurrencies It stands at $2.07 trillion, with 3.47% increase Over the past 24 hours, according to real-time data available on CoinmarketCap.

The 24-hour cryptocurrency market totaled $109.69 billion, up 23.98% over the previous 24 hours.

Regarding the US dollar, at the time of writing one bitcoin is at $43826.25, with the price action in positive territory. Gained 2.29% in the last 24 hours. But it lost its dominance by 0.36% (Bitcoin’s share of the total cryptocurrency market cap) to 39.83% on the day. In local currency, buying one BTC is approximately 3,240,111 INR.

Decentralized Finance (DeFi) It is currently estimated at $15.47 billion, accounting for 13.83 percent of the trading volume, while stablecoin volume $73.44 billion, which reflects 65.66% of the total 24-hour crypto market volume.

Also Read: Crypto Regulations in India: Central Government to Give Window to Crypto Owners to Declare Assets: Report

Term Explanation:
Decentralized Finance (DeFi):

If you are a fan of cryptocurrencies, you must have come across the word – DeFi (or “Decentralized Finance”). In general it has a broad understanding as it includes many functions and applications. In the DeFi ecosystem, financial instruments are executed on smart contracts on the blockchain, typically Ethereum, eliminating the scope of brokerages, exchanges or banks as intermediaries. Therefore, DeFi is called “open finance,” because it democratizes finance by erasing the role of intermediaries.

DeFi platforms facilitate the activity of lending and borrowing, speculating on price movements on assets using derivatives, trading cryptocurrencies, and earning interest in savings accounts.

“Decentralized Finance or DeFi means the removal of any intermediary operating or giving permission to carry out any financial activities. The current financial ecosystem falls into the category of centralized finance, including central banks such as the RBI (Reserve Bank of India), which decides the input on the repo rate. DeFi It is a peer-to-peer financial service that runs solely on the Blockchain platform with little or no brokers,” says Gaurav Dahake, CEO and Co-Founder, Bitbns.

stablecoins

Stable coins fall under the purview of cryptocurrencies but are relatively safer and less volatile since their value is derived from some underlying external asset, such as the US dollar or the price of gold.

List of Top 10 Cryptocurrencies (by Market Cap):

  1. Bitcoin: Over the past 24 hours, Bitcoin recorded a gain of 2.25%, or $999. It touched a low of $42760.21, while it was a high of $4,135.37. The trading volume of this cryptocurrency increased by 163.74% in one day. In terms of market capitalization, it has a tight grip in the crypto world, with a market capitalization of $828,968,671,206.
  2. EthereumEthereum is ranked second in the market, with a market capitalization of $400,658,541,673, less than Bitcoin. In the past 24 hours, Ethereum added 3.19% or $104.00 gain, and its price settled at $3,367.66 today. Its market dominance is currently 19.16%.
  3. BNBToday’s BNB price is $484.61, with a 24-hour trading volume of $4,086,610,445 USD. Over the course of a day, its market capitalization increased by 4.48% to $80,834,160,622.6.
  4. pregnancy: Rope price stands at $1.00 today, with a 24-hour trading volume of $64,058,434,643. Its market dominance is currently 3.76%.
  5. SolanaPrice: 1 Solana is $151.55 USD, and its 24-hour trading volume is $2,247,014,932 USD. In the reporting period, it rose 6.27%, or $8.96. Its market dominance is 2.27%.
  6. USD . coin: The US dollar is a stable currency, currently trading at $1.00 a piece, with a 24-hour trading volume of $3,622,764,470. It has a market capitalization of $44.834,722.838.31 and a dominance of 2.15%.
  7. CardanoCardano price stands today at $1.30 with a 24-hour trading volume of $2,080,067,458. It gained 5.35% in the last 24 hours, with a market capitalization of $43,518,673,603.
  8. XRP: XRP is currently trading at $0.796759 per piece, with a 24-hour trading volume of $1,832,845,863. During this period, it increased by 4.23%. It has a market dominance of 1.82% and a market capitalization of $37,937,796,961.
  9. TeraTerra is currently trading at $82.14 with a 24-hour trading volume of $2,559,431,592. Gained 6.18% in the last 24 hours. Terra’s current market capitalization is $29,309,038,247.
  10. dottedPolkadot: Hands are exchanged at $27.03 per piece. The last 24-hour volume was $1,440,287,160, down 8.26%. But Polkadot’s price is up 3.19% during that period. Its market capitalization is $26,695,622,708, with a total dominance of 1.28%.

Shiba Inu and Dogecoin, who often trend on Twitter, have fallen behind as their market cap falls short of finding a place in the top ten.

Dogecoin currently ranks 12th in the market, with a market capitalization of $22,975,876,642. It is trading at $0.173180, an increase of 12.56%. The 24-hour trading volume is $1,640,447,800 USD.

Shiba Inu is a step behind Dogecoin on the crypto ladder, with a market capitalization of $17,666,577,004. One Shiba Inu equals $0.0000032. Shiba Inu price is up 12.47%, along with the 24-hour trading volume, which is up 98.48%.

In the past seven days, Doegcoin gained 9.35% and Shiba Inu increased by 6.47%, but due to its low pricing and market volatility, these coins were unable to reach the top ten by cryptocurrency market capitalization.

** Prices and other variables are subject to market fluctuations. We do not encourage cryptocurrency trading, the content is for informational purposes only. Cryptocurrency trading is subject to market risk. Do your due diligence before investing.

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