Crypto trading volume up 44% but prices down. The value of global cryptocurrency trading volume increased by 43.99 percent. To $102.63 billion as traders attempted to take advantage of the low prices. Of practically all major cryptocurrencies at the time of writing. Despite a flurry of buying activity, the worldwide cryptocurrency market capitalization. Has fallen by 0.59 percent to $1.96 trillion. A 0.59 percent decline from the previous day.
Another development is the privacy-focused worldwide chat messaging service business Signal. Which has partnered with MobileCoin to enable its 40 million users (as of January 2021). To make and receive payments in MobileCoin cryptocurrency, according to Wired magazine. BitFinex and FTX are two cryptocurrency exchanges. That allow for the trading of this cryptocurrency.
“There are over a hundred million devices on the planet Earth right now. That have the ability to switch on MobileCoin and deliver an end-to-end encrypted payment. In five seconds or less,” said Josh Goldbard, the founder of MobileCoin, according to the same source.
Meanwhile, investors in Bitcoin (BTC), the world’s oldest cryptocurrency. Were close to panicking when the price of the cryptocurrency plunged near $40,000. For a brief period of time. As of 8:55 a.m., data from Coinmarketcap showed Bitcoin trading at $42,115.77, up 0.38 percent from the previous day.
Cryptocurrency Bitcoin (BTC) momentarily dipped below $40,000 after stock market losses. In the United States worsened as investors braced for possible action. From the (US) Federal Reserve (interest rates). The positive impetus has lessened as a result of BTC’s two-month-long downturn. Which signals that sellers may continue to be active near resistance levels.” Says Gaurav Dahake, CEO of Bitbns.
Ethereum fell 1.38 per cent to $3,114.80
Bitcoin was down 1.38 percent to $3,114.80, bringing the price of Ethereum. To $3,114.80. Ethereum was down 1.38 percent to $3,114.80. In today’s trade, Cardano (ADA) was trading at $1.15. Down 0.85 percent from its previous all-time high. Algorand (ALGO). Also known as the Ethereum killer, saw a 2.50 percent boost in value to $1.42. Increasing its market capitalization to $9,205,972,130 dollars. Algorand (ALGO) is a cryptocurrency that was launched in 2014.
Another notable cryptocurrency was Binance Coin (BNB), which fell 1.98 percent to $430.36. From its all-time high and Solana (SOL), which fell 2.41 percent to $136.87. Both of which were down from their all-time highs. Dots (DOT) finished at $24.11. A decrease of 2.63 percent from the previous day’s close.
Most significantly, the ETH Fan Token (EFT) increased in value by 2,365.65 percent to $0.000000003836. Making it the best performer on the day. Lympo Market Token (LMT) was the cryptocurrency that suffered the worst loss. Plunging by 92.03 percent to $0.009453.
Meme Coins And DeFi
It was down 4.02 percent at $0.1454, lowering the price of Dogecoin (DOGE) to $0.1454. There is a 0.04174 volume to market capitalization ratio in the company’s financial statements. As of the close of trading on Tuesday. Shiba Inu (SHIB) was down 4.46 percent at $0.00002708. Placing it in an advantageous position. Dogelon Mars (ELON) was trading at $0.000001217. A decrease of 4.89 percent from its previous closing price of $0.000001217.
As of the time of writing, Floki Inu (FLKI) is down 10.78 percent to $0.00006602. And Samoyed Coin (SAMO) is down 4.06 percent to $0.03017. Both of which are down from their highs of crypto trading volume.
This section was topped by YFI (yearn.finance), which had a 0.40 percent gain. In value at $32,346.15 as of the close of trading. Terra (LUNA). Which was trading with a 0.35 percent loss at $72.66, Avalanche (AVAX). That was trading with a 3.23 percent loss at $85.96, Uniswap (UNI). Also that was trading with a 0.98 percent loss at $15.60, and Aave (AAVE). Which was trading with a 0.35 percent loss at $72.66, Terra (LUNA). Who was trading with a 0.35 percent loss at $72.66, Avalanche (AV).