Bitcoin, the leading cryptocurrency, was struggling to break the $17,250 level on December 4, and is now down to $16,900. Similarly, after rejection at $1,300, EthereumThe second most valuable cryptocurrency declined and is now consolidating near $1,275.
Global in the last 24 hours crypto market capitalization fell 17% to $2.18 trillion. In the last 24 hours, the total crypto market volume has increased by 77% to $206.73 billion. The total volume in DeFi currently stands at $26.15 billion, which is over 12% of the entire 24-hour volume in the crypto market.
The total volume of all stable coins is now $167.22 billion, which is 80% of the total 24-hour volume of the crypto market.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
Here are three of the top 100 coins that gained price in the last 24 hours cello (celo), Aptos (APT)And Nexo (Nexo), CELO price rises by more than 10% to $0.6625; The price of APT has increased by more than 6.5% to $5.30; And the price of NEXO has increased by about 5%.
UNUS SED Leo (LEO), GMX (GMX)And Clayton (KLAY) There are three of the top 100 coins whose value has decreased in the last 24 hours. While LEO has lost about 7% to trade at $3.75, GMX is down about 5.5% to trade at $54.75. Whereas, the price of KLAY is trading down by 2.85% at $0.1875.
bitcoin price
the current bitcoin price is $17,007, and the 24-hour trading volume is $16 billion. Over the past 24 hours, the BTC/USD pair has gained over 0.10%, while coinmarket cap is currently ranked #1 with a live market cap of $357 billion, down from $357 billion yesterday.
It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,223,837 BTC coins.
BTC/USD The pair struggled to break above $17,250, and it was trading sideways, maintaining a narrow trading range from $16,800 to $17,250.
On the downside, bitcoin completed the 23.6% Fib retracement level at $16,900, and a candle close below $16,950 could start fresh selling until the $16,750 resistance is reached.
Furthermore, bitcoin could aim for the $16,600 level, the 50% Fibonacci retracement, and a break below it could expose BTC to the $16,450 level, the 61.8% Fib retracement. On the upside, a bullish break of the $17,250 resistance could expose BTC to higher levels of $17,650 and $18,100.
ethereum price
current price of Ethereum $1,258, with a 24-hour trading volume of $5.6 billion. Ethereum is down almost 2% in the last 24 hours. CoinMarketCap is currently ranked #2 with a live market cap of $154 billion. It has a circulating supply of 122,373,866 ETH coins.
on the 4 hour chart, Ethereum It traded bullish but failed to break the $1,300 psychological trading level to signal the start of a downside correction. However, the 50-day moving average has placed the coin around $1,240. An immediate support for Ethereum is expected near the $1,225 level, with a downside break below $1,150.
The two indicators are diverging as the MACD is in the sell zone while the RSI is still in the buy zone. Besides, the 50-day Simple Moving Average (SMA) remains positive, indicating a buying trend.
On the other hand, a bullish breakout of the $1,300 level could expose ETH price towards the $1,354 level.
Phantom pumped 28% in seven days
The current price of Fantom is $0.24034, with a 24-hour trading volume of $119 million. In the last 24 hours, Phantom is down 1.75% and is up almost 28%. With a live market cap of $611 million, CoinMarketCap is now ranked #65.
There are 2,545,006,273 FTM coins in circulation, with a maximum supply of 3,175,000,000.
Using Phantom (FTM) to overcome these constraints of EVM
To solve the technical design problems affecting the Ethereum Virtual Machine (EVM), a recent paper suggested using Phantom (FTM), a next-generation smart contract platform, to achieve vertical scalability. Uses parallel computations.
Balance Capital, an investment and infrastructure firm focused on the phantom cryptocurrency, released a thread on December 2, 2022 detailing the key limitations of the Ethereum Virtual Machine (EVM) and stating that How does Phantom’s VM overcome them.
The primary goal of a Phantom Virtual Machine is to achieve much higher throughput than what is possible with an EVM. Fantom (FTM) can process hundreds of TPS, but Ethereum (ETH) can only process 18.
Balance Capital believes that EVM is highly vulnerable as it has not been updated since its initial release. Because of this, dApp developers may find Phantom’s constantly updated mechanism more attractive.
According to Balance Capital, the secret to Phantom’s success in terms of scalability is its ability to execute transactions in parallel. This improves the scalability and productivity of Phantom’s dApps.
IMPT Pre-Sale Ending Soon: 1 Week To Buy
IMPT Another is an Ethereum-based network that will reward users for doing business with environmentally responsible firms. These benefits will be provided through the company’s IMPT token, which can be used to receive NFT-based carbon offsets that can be sold or retired.
IMPT has Raised over $13.6 million Since its initial public offering in October, 1 IMPT is currently trading at $0.023.
IMPT.io will be a new platform for carbon offsetting and carbon credit trading End its token pre-sale on December 11th because of the phenomenal success
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