On Tuesday, December 6, the global cryptocurrency market resumed its downward trend, bringing forward losses from the weekend as traders shied away from the business because to concerns about the Omicron form of Covid-19. In the face of the new variation threat, investors turned to safety assets like gold rather than risky ones like bitcoin. The price of bitcoin increased early in the morning before falling later in the day. During the day, other big crypto coins as as Ethereum, Solana, and Cardano all lost value. Shiba Inu and Dogecoin, two memecoins, were also affected by the ripple effect, with their prices plummeting.
According to data from cryptocurrency tracking website CoinMarketCap, the worldwide cryptocurrency market capitalization was $2.17 trillion at the time of writing this article. This was a significant drop of 6.73 percent in the last 24 hours. The total crypto market volume also dropped sharply on the day, as the industry suffered from Monday blues. When this post was created, the overall crypto market volume for the previous 24 hours was $123.99 billion. This was down 7.61 percent in the previous day’s trading.
According to Reuters, open interest – the total number of futures contracts held by market players at the conclusion of the trading day – was last at $16.5 billion across all exchanges, down from $23.5 billion on Thursday and as high as $27 billion on November 10.
At the time of writing, the global cryptocurrency market capitalisation was $2.17 trillion, according to data from cryptocurrency tracking website CoinMarketCap. In the last 24 hours, there was a substantial loss of 6.73 percent. The entire volume of the crypto market fell substantially on the day, indicating that the industry was suffering from Monday blues. The total crypto market volume for the previous 24 hours was $123.99 billion when this post was written. In the previous day’s trading, this was down 7.61 percent.
Open interest — the total number of futures contracts held by market participants at the end of the trading day – was last at $16.5 billion across all exchanges, according to Reuters, down from $23.5 billion on Thursday and as high as $27 billion on November 10.