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Major coins were seen trading in the green on Monday evening as the global cryptocurrency market cap rose 0.4% to $812.5 billion as of 7:15 p.m. EST.
Price Performance of Major Coins Coin Price 24/7 Bitcoin BTC/USD 0.7% 3.1% $16,956.37 Ethereum ETH/USD 0.95% 5.4% $1,230.20 Dogecoin DOGE/ USD 0% -6% $0.076 24-Hour Major Gainers (Data via CoinMarketCap) Cryptocurrency 24-Hour Change % (+/-) Terra Classic Price (LUC) +8.4% $0.00016 Lido DAO (LDO) +6.1% $1.03 XRP (XRP) +5.5% $0.365
See also: 9 Best Coinbase Alternatives in 2022
Why it matters: The two biggest cryptocurrencies Bitcoin and Ethereum posted gains of less than 1% on Monday evening.
Cryptocurrencies followed US stock futures which were in the green at the time of writing.
Bitcoin’s 24-hour trading volume was seen as 5.2% higher at $12.3 billion, while Ethereum’s intraday trading volume fell 14% to $3.4 billion at the time. of the editorial staff.
Cryptocurrency trader Michal van de Poppe said: I think we will continue to move towards the higher levels as we approach a new year.
The dollar index, a measure of the greenback’s strength against a basket of six currencies, is poised to take a big leap in the coming weeks, according to Justin Bennett.
Risky assets generally move inversely to the index. Bennett pointed out that the DXY carved out a triangle pattern in December with support near 104 and resistance at 104.50.
The index is approaching the top of this terminal pattern, which means it needs to move later this week, Bennetts said in a blog post. At the time of writing this article, the index was 104.33.
Chartist Ali Martinez pointed out that large transactions on the Bitcoin network worth more than $100,000 hit a new yearly low of 8,040.
This indicates bass whale and institutional investor activity around the [BTC] network.
Meanwhile, a severe winter storm, which swept through North America, shut down Bitcoin miners across the country. Bitcoin’s mining hash rate dropped from 100 exahashes per second to 156 PE/s, a 40% drop.
Read more: This DeFi token skyrockets 102% in 2022, even as Bitcoin, Ethereum and Dogecoin miss market gains
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