Bitcoin, the leading cryptocurrency, was struggling to break the $17,250 level on December 2, and is now trending towards a low of $16,900. Similarly, EthereumThe second most valuable cryptocurrency declined after rejecting the $1,300 level and is currently consolidating near $1,275.
Major cryptocurrencies were trading negatively in early December 02, as global cryptocurrency market The value fell by 1.30% to $849.73 billion on the previous day. In the last 24 hours, the total crypto market volume fell by 14 percent to $42.61 billion.
The overall volume in DeFi was $2.99 billion, which was 7% of the total 24-hour volume in the crypto market. The total volume of all stable coins was $40.66 billion, accounting for 95% 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 EthereumPOW (ETHW), GMX (GMX)And Terra Classic (LUNC), ETHW is up more than 20% to $4, GMX is up more than 14% to $55, and LUNC is up almost 10%.
BinaryX (BNX), curve dao token (CRV), and Dogecoin (DOGE) There are three of the top 100 coins whose value has decreased in the last 24 hours. While BNX has lost nearly 6% to trade at $130, CRV is down nearly 5% to trade at $0.6350. Meanwhile, the price of DOGE is down by over 5% and is trading at $0.099.
Dovish remarks from Fed Chair Jerome Powell
The rise can be attributed to soft comments from Fed Chair Jerome Powell, who has been instrumental in supporting cryptocurrencies such as bitcoin.
Federal Reserve Chairman Jerome Powell said the bank will slow the rate of interest rate hikes at its upcoming meeting.
Furthermore, the US Dollar’s fall to a three-month low was seen as a key factor supporting the rise in Bitcoin price, as BTC has a strong inverse correlation with the US Dollar Index.
revenue from bitcoin mining drops
In contrast, Block Research data shows that bitcoin mining revenue fell by 19.9% in November to approximately $472.64 million. This was seen as one of the major factors keeping any additional gains in BTC gains under control.
Transaction fees account for only a small portion of bitcoin mining revenue ($12.32 million), with block reward subsidies accounting for the majority of revenue ($460.32 million).
Bitcoin transaction fees now account for about 3% of total revenue, which represents a modest increase.
In terms of earnings, bitcoin miners outperformed ethereum investors by a factor of approximately 5.3. Going ahead, traders appear wary of placing any strong bids ahead of the US Payrolls data which is likely to influence the monetary policy.
bitcoin price
the current bitcoin price $16,970, and a 24-hour trading volume of $25 billion. Over the past 24 hours, the BTC/USD pair has gained over 0.50%, while coinmarket cap Currently ranked #1 with a live market cap of $358 billion, up from $323 billion yesterday.
It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,221,593 BTC coins.
BTC/USD The pair was struggling to break the $17,250 level, and the closing of the doji and Spinning Top candles indicated the possibility of a bearish correction.
On the downside, bitcoin completed the 23.6% Fibonacci retracement level at $16,900, and a candle close below $16,950 could trigger additional selling towards the $16,750 level.
Furthermore, bitcoin could target the $16,600 level, which is the 50% Fib retracement level, and a break below this could expose BTC to the $16,450 level, which is the 61.8% Fib retracement level. Is.
On the upside, a bullish breakout of the $17,250 level could expose BTC towards the $17,650 and $18,100 levels.
ethereum price
current price of Ethereum $1,274, with a 24-hour trading volume of $6 billion. Ethereum is down about 1% in the last 24 hours. Coinmarketcap is currently ranked #2 with a live market cap of $155 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 $1,310 resistance level to start a bearish correction.
The tweezers top pattern is weakening the bullish trend and could result in a bearish market correction.
On the downside, an immediate support for Ethereum is likely near the $1,225 level, with a drop to $1,150 possible.
The MACD and RSI 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) is still indicating a buying trend.
On the other hand, a bullish breakout of the $1,310 level could expose ETH price towards the $1,354 level.
Phantom Rocket up by 35%
Phantom extended its upward momentum on December 02 despite rumors that the Phantom Foundation generates regular earnings and has a 30-year runway without the need to sell any FTM tokens.
The price of FTM surged almost 35% to $0.24, its highest level in three weeks. The increase comes as part of a larger rally that began on November 22 with a low of around $0.17. This translates to a 50% price rebound over the last eight days.
Interestingly, the rally picked up pace after Andre Cronje, the “architect” of the Phantom Foundation. disclosed the financial documents of the firm on November 28, revealing that he had digital assets worth $340 million and was earning over $10 million annually.
In terms of technical analysis, ftm/usd Completed 61.8% Fibonacci retracement level at $0.2580. On the upside, a break above $0.2580 could expose the FTM to $0.2830 or $0.3100.
On the downside, there is an immediate support in the FTM at $0.2410, below which the price could move as low as $0.2235 and $0.2015.
Presale cryptocurrency with massive profit potential
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.
Dash 2 trading has also been successful, with two exchanges (LBank and BitMart) pledging to list D2T tokens after the pre-sale ends. 1 D2T is currently worth 0.0513 USDT, but will increase to $0.0533 at the end of the sale. D2T has raised over $7.7 million to date, selling over 88% of its tokens.
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