The global cryptocurrency market capitalisation is priced at $2.34 trillion, resulting in a decrease of 2.2% over the last 24 hours, as per CoinGecko. Bitcoin was trading at $47,807.03, falling by 2.4% over the last day.
On the other hand, Ethereum which was trading at $3,976.49 in the early hours of Friday, dropped by 2.0%. Dogecoin also dropped at 3.7% and was trading at $0.174720 in the last 24 hours. Shiba Inu which was trading at $0.00003295, dropped at 3.5% over the previous day.
According to CoinGecko, total cryptocurrency trading volume over the last 24 hours was $109 billion with Bitcoin having dominance at 38.7% while Etheereum experiencing dominance at 20.2%.
Apart from the major cryptos, all other digital currencies such as Polygon, Polkadot, Litecoin, Chainlink, and Cardano were experiencing much lower gains over the previous day.
Even though the crypto world received a pullback last month, the cryptocurrency market is witnessing “celebrity-driven commercials” for trading platforms.
Meanwhile, there are indications that crypto could lead to a pronounced selloff. Also, on Wednesday, the Federal Reserve’s pivot may just fuel up the process. One of the signals indicates that trading volumes for both cryptos and NFTs are undergoing decline after its surge.
In the latest reported quarters by crypto-focussed Block Inc, which was formerly known as Square and also Coinbase Global Inc. stated that digital currency trading revenues are significantly below market expectations given that transactions on their platforms slowed.
Moreover, the NFTs aggregated values that are trading on the marketplace have fallen since their August highs. Besides, on Thursday, the former US first lady Melania Trump launched her own NFT which resulted in another public figure joining the crypto boom.
