6 coins gain up to 714% per day; Bitcoin rises to $42,000

Cryptocurrency Update: The global cryptocurrency market on Thursday, January 20, saw a significant rise in value after a steady decline for several days. This comes amid the volatile market that has been recording losses for a long period of time due to a myriad of reasons, including the Covid-19 pandemic. The prices of digital tokens, which were undergoing corrections, had fallen especially after the Fed meeting, where an aggressive view of them was witnessed. On Thursday, however, the prices of most major cryptocurrencies rose, ultimately impacting the market cap seeing itself in the green.The cryptocurrency market cap was $1.99 trillion, according to data from global crypto tracking website CoinMarketCap. This was up 1.19 percent in the past 24 hours. However, global crypto volume dropped significantly over the past day as more traders held onto their coins. The total volume of coins traded in the past day was $50.97 billion. This is up 37.15 percent in the past 24 hours, the data said.

Bitcoin prices saw a rise for two days in a row on the day, worth more than $42,000 according to data. At the time of writing this article, Bitcoin prices stood at $42,201.12 according to CoinMarketCap. According to data, it was up 0.98 percent in the past 24 hours, but up 3.62 percent in the past seven days.

“The price of Bitcoin is up nearly 2 percent and is trading at $42,000. Bitcoin’s current dominance in the market is 40.24 percent. Major crypto investors appear to be collecting BTC amid flat price action. We need to see if this critical support can overcome the resistance level in the coming days,” said Edul Patel, CEO and co-founder of Mudrex.

Ether prices also rose in the past 24 hours after falling. At the time of writing this article, the price of one Ethereum coin stood at $3,149.24, up 1.72 percent over the course of the last day.

“Theta Network is up about 14 percent and other cryptos such as Terra, Fantom and FTX Token achieved decent growth. Overall, the market has picked up slightly compared to the previous day,” added Patel.

NinjaFloki became the top winner in the crypto pack on Thursday. In the past 24 hours, the value of one coin has risen by 714.17 percent. One token cost $0.000009534, according to data from CoinMarketCap. Sakura Bloom and SHNG were the other two winners occupying the next top spots of the day.

Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)

NinjaFloki: $0.000009534 – an increase of 714.17 percent

Sakura Bloom: $0.0002201 – an increase of 556.85 percent

SHNG: $0.08216 – an increase of 453.47 percent

veDAO: $0.3152 – an increase of 389.07 percent

Samurinu: $0.00000008356 – an increase of 152.71 percent

SMART SHIBA: $0.0008105 – up 148.10 percent

Top 6 Cryptocurrency Losers in the Last 24 Hours (According to CoinMarketCap Data)

En-Tan-Mo: $0.001948 – down 88.74 percent

METABULLRAGE: $0.00004489 – down 83.98 percent

Micro Santa Coin: $0.00000000003604 – Down 81.91 percent

BrowniesSwap: $0.00008193 – down 81.11 percent

MiniTesla: $0.0000000004449 – down 69.06 percent

CryptoSword: $0.109 – down 68.91 percent

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