Cryptocurrency news today: BTC, ETH suffer downfall while DOGE, SHIB gain slightly

New Delhi: Most of the cryptocurrencies are trading in the red on November 23 as digital tokens like Bitcoins, Ethereum, Binance, and Solana suffered a downfall. While the highest gainers in the last 24- hours as Shiba Floki Trillionaire surged by 3,588% while Elonomics rose by 616.9%. Mars Space X also jumped by 635.19%. Interesting all three cryptos are trading below $0.

The crypto market capitalisation is at $2.47 trillion, marking a downfall of 4.15% over the last day. The total volume in the DeFi market is priced at $15.61 billion witnessing 20.43% over the last 24 hours. Besides, the total crypto intraday trading volume was $76.41 billion. Stablecoin volume accounted for $13.27 billion, marking 17.37% trading volume over the last day.

Currently, Bitcoin is trading at $57,004, witnessing a dominance of 43.58% while suffering a 4.15% decline over the last 24-hour. Ethereum was trading at $4,167 with a decline of 0.86%. Solana also fell by 1.24%, trading at $220. Besides, XRP slightly increased by 1.24% to trade at $1.05. Meme coins such as DOGE and Shiba Inu rose by 0.30% and 1.64% respectively.

In a recent interview, Zerodha founder Nithin Kamath regarded cryptocurrency to be the next big disrupter. He stated that “the majority of the broking industry and exchanges rely on active traders to generate revenue. Those who are actively trading are a small community and they can potentially switch slowly and steadily. Crypto has a lot of advantages overregulated space in terms of markets, given that they are open 24 x 7, with intermediaries offering limited leverage.”

The International Monetary Fund (IMF) stated that crypto-assets pose various risks to different aspects of the financial sector besides, they also called for close monitoring of such risks.