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SUMMARY
Most cryptocurrencies extended losses on Monday. Ethereum slipped below $1,300. The global crypto market cap stood at $926.9 billion, with a volume of $45.4 billion in the past 24 hours.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 0.8 percent to $19,162.9. Its market value stood at $367.8 billion. The trade volume was at $23 billion. The token has gained 1.8 percent in the last seven days.
“BTC failed to hold above the $20,000 level last week due to a lack of buying activity above that level. If BTC can break above the $19,500 level, the immediate resistance would be $20,000,” said Edul Patel, CEO and Co-Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, was 1.4 percent down at $1,290.8 with a market capitalisation of $158.7 billion. The trade volume of Ethereum was almost $8.5 billion in the last 24 hours. The token has fallen 0.7 percent in the last seven days.
On Ethereum, Patel said, “The second largest cryptocurrency, Ethereum, was changing hands between the $1,200 level. The slowdown in the market is due to investors digesting the hawkish comments by the US central bank in a speech on Friday.”
Dogecoin | Meme-based virtual currency, Dogecoin, slumped 2.2 percent to $0.1. Its market value stood at $7.9 billion. The trade volume was at $208.6 billion.
Solana | Solana fell 1.8 percent to $32.3 with a market capitalisation of $11.5 billion. The trade volume of Solana was $540.2 million in the last 24 hours.
Shiba Inu | Shiba Inu fell 0.9 percent with a market capitalisation of $6.1 billion. The trade volume was $204.9 million in the last 24 hours.
Polygon | Polygon rose 0.4 percent to $0.8 with a market capitalisation of $6.8 billion. The trade volume was $233.3 million in the last 24 hours.