Cryptoverse stayed red with crypto giants Bitcoin, Ether, Binance, and Solana falling. The ones thriving in the last 24 hours are
Shiba Floki Trillionaire- to 3,588 percent,
Elonomics-to 616.9 percent,
and Mars Space X to 635.19 percent.
All these coins are trading below $0.
The crypto market cap was $2.47 trillion, dipping 4.15 percent in the last 24 hours. The DeFi market saw a total volume of 20.43 percent at $15.61 billion. The intraday trading volume of the entire crypto was $76.41 billion, out of which stablecoin volume accounted for 17.37 percent at $13.27 billion.
Bitcoin accounts for 43.58 percent of the market, falling by 1.40 percent to trade at $57,004. On the other hand, Ether fell 0.86 percent and is trading at $4,167. Solana also saw a drop of 1.24 percent and traded at $220, while XRP spiked by 1.24 percent to trade at $1.05.
What also rose was meme coins, Doge by 0.30 percent, and SHIB increase by 1.64 percent.
Nithin Kamath, the Zerodha founder, called crypto the next big disrupter. He said, “mostly it’s the active traders that generate revenue in the broking industry and exchanges. There is a small community of active traders; they can switch slowly and steadily. Crypto has a lot of benefits- overregulated space when talking about markets, they are open 24/7, with intermediaries giving limited leverage.”
The International Monetary Fund (IMF) noted that crypto-assets present numerous risks to distinct aspects of the financial system while also asking for close monitoring of risks.