Bitcoin Price and Ethereum Have Given Up Earlier Gains; Axie Infinity Jumps 30%
On December 6, Bitcoin, the leading cryptocurrency, gave up most of its gains, having lost nearly 2% to trade at the $16,980 level. Most of the selling trends in the crypto market could be associated with a stronger US dollar. Interest rate speculation increased on Monday after a US services index indicated the economy was holding steady.
Following news that the Institute for Supply Management's gauge of services increased unexpectedly in November, the Bloomberg Dollar Spot Index rose by as much as 0.8%, snapping a four-day losing streak.
Ethereum, the second-most valuable cryptocurrency, has lost ground and slipped under $1,300 psychological trading levels.
Major cryptocurrencies were trading in the green early on December 6, even though the global crypto market cap had dropped 0.86% to $856.36 billion on the previous day. Over the last 24 hours, the total crypto market volume has increased by 26.48% to $40.21 billion.
DeFi's total volume is currently $2.84 billion, accounting for 7% of the total crypto market 24-hour volume. The total volume of all stablecoins is now $36.63 billion, accounting for 91.10% of the total 24-hour volume of the crypto market.
Let's take a look at the top 24-hour altcoin gainers and losers.
Axie Infinity (AXS), Synthetix (SNX), and Stacks (STX) are three of the top 100 coins that have gained value in the last 24 hours. AXS's price has risen nearly 22% to $8.75; SNX's price has risen more than 7% to $1.96; LTC's price has risen nearly 3.5%.
Cronos (CRO), GMX (GMX), and Celo (CELO) are three of the top 100 coins that have lost value in the last 24 hours. Whereas CRO has lost about 7.5% to trade at $0.066, GMX is down nearly 6% to trade at $51.50. At the same time, the CELO price is down over 5% to
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