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November 10, 2023
In a remarkable turn of events, the global cryptocurrency market experienced a 3.12% surge on Friday, reaching an impressive market cap of $1.4 trillion. The total crypto market volume over the last 24 hours witnessed a substantial 118.67% increase, soaring to $97.43 billion. DeFi played a significant role, contributing $9.09 billion, accounting for 9.33% of the total crypto market 24-hour volume, as reported by CoinMarketCap. Additionally, stable coins dominated the scene, representing a staggering 87.73% of the total crypto market 24-hour volume, totaling $85.47 billion.
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Bitcoin and Ethereum Lead the Charge
Bitcoin, the pioneer of cryptocurrencies, observed a 1.42% increase, with each token valued at $36,813.97 on Friday. The market cap for Bitcoin reached an impressive $719.29 billion, according to CoinMarketCap data. Simultaneously, Ethereum recorded a substantial 10.70% surge, with the price per token reaching $2,121.75.
Ethereum experienced an 8% rally on November 9, breaking the $2,000 barrier and achieving its highest price level in six months. This surge was attributed to BlackRock’s registration of the iShares Ethereum Trust in Delaware. The news triggered $48 million worth of liquidations in ETH short futures, fueling optimistic expectations for a potential Ether spot ETF filing by BlackRock, a $9 trillion asset manager.
Meme Coins in the Spotlight
Meme currencies demonstrated mixed performance on Friday:
- Dogecoin: The price of Dogecoin fell by 2.63% to $0.07423 per token, with a market cap of $10.52 billion.
- Shiba Inu: Shiba Inu witnessed a modest 0.17% increase, reaching $0.00000847 per token, boasting a market cap of $4.99 billion.
- Pepe Coin (PEPE): Pepe Coin experienced a notable 29% decline, with each token valued at $0.0000000003561.
Other major altcoins exhibited the following movements:
- XRP (Ripple): XRP’s price fell by 3.31% to $0.6684 on Friday, maintaining its position as the 5th largest cryptocurrency among the 8,815 active cryptocurrencies listed on CoinMarketCap.
- Cardano: Cardano’s price experienced a 2.15% increase, reaching $0.3729 per token.
- Solana: Solana gained 7.10%, with each token priced at $46.97. It currently holds the position of the 7th largest cryptocurrency in terms of market capitalization.
- Polkadot: Polkadot observed a 1.26% gain, reaching $5.17 per token on Friday.
As the crypto market continues to captivate investors, these developments underscore the dynamic and ever-evolving nature of the digital asset landscape
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