Bitcoin, Ethereum Fall Over 5%, Meme Coins Shiba Inu, Dogecoin Also In The Red

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Amid different speculation related to the future of cryptocurrencies in India, global crypto market capitalisation witnessed a fall of 6.16 per cent with a total market capitalisation of $2.43 trillion at 8 am, while the total crypto market volume is $137.47 billion with an increase of 19.53 per cent in the last 24 hours, according to coinmarketcap.com, a global crypto exchange.

Bitcoin (BTC) was trading at $53,029.87 at 8 am with a fall of 5.88 per cent in the last 24 hours. Bitcoin’s prices are down 5.62 per cent in the last seven days and the coin’s dominance in the crypto market is 41.19 per cent with a decrease of 0.14 per cent in the last 24 hours.

The second-largest coin by market cap Ethereum (ETH) falls 7.34 per cent in the last 24 hours and was trading at $4,154.68. The price of Binance Coin (BNB) fell over 4.12 per cent in the last 24 hours and was trading at $587.01. Tether (USDT), the fourth in the list by market cap, was trading at $1, witnessing a fall of 0.02 per cent. Solana (SOL) fell 9.99 per cent in the last 24 hours and was at the fifth position in the coinmarketcap.com list; it was trading at a price of $204.62.

Biggest Gainer And Loser

COXSWAP (COX) became the biggest gainer in the last 24 hours, recording a rise of 756.79 per cent; it was trading at $0.00000009096 at 8 am. On the other hand, Degem (DGM) recorded a maximum loss in the last 24 hours, falling 97.24 per cent and was trading at $0.0006719.

Meme Coins

Like mainstream coins, all major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON) and Samoyedcoin (SAMO) continued to fall in the last 24 hours, according to coinmarketcap.com.

Top meme coin by market value Dogecoin fell 4.53 per cent in the last 24 hours and was trading at $0.1973, while Shiba Inu witnessed a fall of 4.22 per cent in the last 24 hours and was trading at $0.00003968 at 8 am.

Dogelon Mars (ELON) has fallen by 7.08 per cent in the last 24 hours and was trading at $0.000001392, while Samoyedcoin (SAMO) was trading at $0.06268 and recorded a fall of 0.94 per cent in the last 24 hours, according to coinmarketcap.com.

Meanwhile, Euro Shiba Inu jumped 72.43 per cent in the last 24 hours and was trading at $0.0000000003283 at 8 am according to coinmarketcap.com.

Latest Update

On December 2, former law professor and US Democratic Party senator from Massachusetts Elizabeth Warren shared a letter, which she sent to the CEO of New York bitcoin mining firm Greenidge Generation Holdings, Jeff Kirt, with Bloomberg. The letter raised environmental concerns.

“Given the extraordinarily high energy usage and carbon emissions associated with bitcoin mining, mining operations at Greenidge and other plants raise concerns about their impact on the global environment, on local ecosystems, and on consumer electricity costs,” Warren’s letter explains.

“Crypto mining has a huge environmental cost and is raising energy prices for consumers. Bitcoin alone consumes as much energy as Washington state. I’m calling on Bitcoin company [Greenidge Generation] to provide information on its operations and environmental impact,” she added.

 

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