Crypto prices today 08 Nov 2023: Bitcoin up above $35K mark, Toncoin zooms by 11.03%
Bitcoin, the world’s largest cryptocurrency, experienced an uptick of 1.13 percent over the past 24 hours, reaching a value of $35,303.19 at the time of writing this article (0930 IST). However, a majority of altcoins displayed downward trends today, with Ethereum, XRP, Cardano, and BNB experiencing declines of 0.28 percent, 0.61 percent, 0.41 percent, and 2.47 percent, respectively. Conversely, Polygon and Chainlink bucked the trend, surging by 3.43 percent and 2.40 percent, respectively.
The global crypto market cap stood at $1.33 trillion on November 8, representing an increase of 0.58 percent. Simultaneously, the total crypto market volume witnessed a jump of 16.06 percent to $46.98 billion.
At present, Bitcoin’s dominance stands at 51.7 percent, while Ethereum’s share of the market is 17.0 percent.
Bitcoin recovered and reached its $35k levels amidst a rise in new investors. Altcoins such as Solana, Ripple, and Cardano are on a positive trajectory as well. The bullish sentiment in the market has been accentuated by Ethereum finding its support at $1800. The moving averages continue to indicate a strong buy sentiment.
Rajagopal Menon, Vice President, WazirX
Top Gainers and losers
Toncoin emerged as today’s top gainer, soaring by an impressive 11.03 percent since the last day. It was followed by Trust Wallet Token, Cronos, and Solana, among others.
On the other hand, The Graph suffered the most significant decline, with its prices plummeting by 7.69 percent. NEAR Protocol, Aave, and PancakeSwap also found themselves in the red zone.
Memecoin trading mix
Elon Musk’s favorite Dogecoin and Shiba Inu witnessed declines of 0.90 percent and 0.94 percent, respectively, while Pepe Coin experienced a slight uptick of 0.92 percent at the time of writing this article.
Metaverse tokens register mixed momentum
Popular Metaverse tokens like Internet Computer, Render, and Axie Infinity faced setbacks, with their values falling by 0.89 percent, 4.05 percent, and 0.17 percent, respectively. However, Stacks, Theta Network, and WAX recorded positive movements in their prices.
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Overall market outlook
Despite Bitcoin’s slight increase, the overall crypto market sentiment remains cautious, with many altcoins experiencing downward trends. Investors should exercise prudence and conduct thorough research before making any trading decisions.
