New Delhi: Major cryptocurrencies were back in action on Monday after profit booking over the weekend. The stronger dollar, on the other hand, limited profits.
During the morning session, seven of the top ten cryptocurrencies were trading higher, with the exception of the two stable coins and Cardano. In comparison to the previous day, the worldwide crypto market capitalisation (market valuation) increased by nearly 2 percent to USD2.87 trillion. The total crypto market volume, on the other hand, fell by 8 percent to USD87.71 billion.
According to Hitesh Malviya, the NFT market saw a huge volume jump last day on open-sea, indicating that the market may have already hit its bottom and is now ready for a new bull cycle. "In the last two days, a couple of renowned NFT collections, such as doodle and mutant ape yacht club, have risen by 80-90 percent. In the following days, we should expect more NFT collections to follow their lead "he said.
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