Top Cryptocurrency Prices Today: Bitcoin, Ethereum, Solana Add Up To 3%




After showing what one might call a short weekend break, major cryptocurrencies were back in action on Monday. The healthier coins have shown cap gains.

The crypto market has been in white a slump over the last two weeks following the crypto rally that marked most of October and November. However, clearer skies seem to be in sight for investors as the crypto market jumped about two per cent to a $2.87 trillion mark compared to the last day.

However, that’s not all, at the same time the total crypto market volume tanked up to 8 per cent to $87.71 billion.

In addition to this, the NFT market saw a major volume spike on 15th November on the open sea. This indicates that the market already found its bottom and is now on a fresh bull cycle.

Hitesh Malviya, founder of itsblockchain.com stated “A couple of notable NFT collections like doodle, mutant ape yacht club are up by 80-90 per cent in the past two days. We can expect other NFT collections to follow their lead in the coming days”

Except for two stable coins and Cardano, seven out of the top ten cryptocurrencies were trading at higher marks. However, the gains are minimal.

The last drop in crypto prices could be attributed to many reasons. Some of these include the proposal of the infrastructure bills, China’s crackdown on mining,  the strengthening of the US dollar, liquidation of leveraged accounts and the possibility of a crypto winter can be a few to name.

However all of these are short term challenges and the crypto market is capable of overcoming such challenges, something can be easily seen considering the above-mentioned stats.

Conclusion

Cryptocurrencies require a tremendous deal of patience and risk tolerance. So far, the reward has been completely worth it.

And given the rise of decentralized finance and more exciting projects in the crypto space, there’s every reason to believe that crypto remains a great long-term investment even if we are approaching another crypto winter.

What are your thoughts on the same? Let us know.

Read More: Swedish Regulators Demand a Cryptocurrency Mining Ban




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