As the cryptocurrency market sails smoothly at a valuation of $1.4 trillion, bitcoin and ethereum have stabilized, mostly moving sideways. Yet, a handful of virtual currencies enjoyed robust gains on Monday, with memecoin (MEME) soaring 44.28%, leading the charge as the week kicked off. Conversely, the digital asset ark (ARK) experienced a significant setback, declining 17.5% versus the U.S. dollar over the last day.
Memecoin Rallies Sharply in a Mixed Day for Cryptocurrencies as ARK Tumbles
This Monday dawned with nine cryptocurrencies achieving notable double-digit spikes in the early trading hours. Topping the list was memecoin (MEME), which climbed 44.28% against the dollar. Celestia (TIA) also made impressive strides, surging 29.25% against the greenback within the same timeframe. Not far behind, zrx (0X) and worldcoin (WLD) rose by 19.36% and 18.81%, respectively.
Currently, the day’s cumulative global trading volume has hit $64.04 billion, spread over 929 trading platforms and a sprawling ecosystem of over 10,000 virtual currencies. Among those making headlines for gains on Monday were filecoin (FIL), escalating 14.96%, and osmosis (OSMO), which appreciated by 12.5% within the past day. Other significant risers of the day include KUJI, YFI, FLOKI, and SNT.
Topping today’s downturns is ark (ARK), with a 17.5% slide over 24 hours, while rollbit (RLB) diminished by 12.03%. Both ARK and RLB were Monday’s biggest losers against the greenback.
On the losing front as well, Crypto.com’s cronos (CRO) dipped by 10.66% and telcoin (TEL) receded by 8.94% against the dollar. Astar (ASTR) declined by 7.23% while vulcan forged (PYR) fell by 7.02%. The past 24 hours have seen a downward trend for a total of 32 coins, each dipping by 1.5% or more.
On Monday, the currency with the highest trading volume was the stablecoin tether (USDT), with bitcoin (BTC), ethereum (ETH), usd coin (USDC), and solana (SOL) trailing in that order. USDT accounted for $33.2 billion of the day’s $64.04 billion total trade volume, while BTC represented $13.98 billion. Currently, bitcoin commands a 49.4% share of the cryptocurrency market’s $1.4 trillion value, with ethereum holding 16.9%.
What do you think about Monday’s gainers and losers in the crypto market? Share your thoughts and opinions about this subject in the comments section below.