The global cryptocurrency market capitalization today is $2.34 Trillion, whch is a 2.2% decrease in the last 24 hours, as per CoinGecko. Cryptocurrency prices on Friday dropped as Bitcoin fell by 2.4% in the last 24 hours and was trading at $47,807.03.
Ethereum dropped by 2.0% and was trading at $3,976.49 in the early hours of Friday. Continuing yesterday’s trend, Dogecoin dropped at 3.7% in the last 24 hours and was trading at $0.174720. Shiba Inu witnessed a much further drop at 3.5% and was trading at $0.00003295.
While the total cryptocurrency trading volume in the last day is at $109 billion, with Bitcoin dominance at 38.7% and Ethereum dominance at 20.2%, according to CoinGecko.
Besides, the performance of the other cryptocurrencies have also witnessed a fall, Polygon, Polkadot, Litecoin, Chainlink and Cardano were trading at much lower gains over the last 24 hours.
Meanwhile, even after a pullback in the past month,the cryptocurrency market is witnessing a celebrity-driven commercials for trading platforms.
Signs are mounting that crypto could be headed for a pronounced selloff. And the Federal Reserve’s hawkish pivot on Wednesday may just accelerate the process. One telling signal is that trading volumes for both crypto and NFTs are declining after surges. In their latest reported quarters, crypto-focused Block Inc., formerly known as Square, and Coinbase Global Inc. both reported digital currency trading revenue significantly below market expectations as transactions on their platforms slowed.
Additionally, the aggregate value of NFTs traded on marketplaces has fallen since its August highs. However, the former US first lady Melania Trump on Thursday launched her own NFT platform, the latest public figure to join the crypto boom.
(With inputs from agencies)
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