Investing.com | Editor Nikhilesh Pawar
Published Nov 14, 2023 15:06
NEW YORK – The global cryptocurrency market displayed mixed signals as altcoins like MATIC, MEME, and BIGTIME trended on CoinMarketCap amid a slight downturn in Bitcoin (BTC) prices. On Monday, the overall cryptocurrency market cap experienced a marginal drop of 0.38%, falling to $1.4 trillion. Despite this decrease, Bitcoin managed to maintain an upward trajectory over the last week and month, with gains of approximately 4.47% and 37%, respectively.
Bitcoin’s price dipped slightly by 0.49% on Monday, settling at $36,667.05. However, its trading volume saw a significant increase, surging by over 42%. This heightened activity indicates sustained investor interest even as the leading cryptocurrency’s price faced a minor setback.
In contrast to Bitcoin’s modest decline, several altcoins seized the opportunity to make notable gains. MATIC led the charge with an impressive daily high of $0.9512 on Tuesday, eventually closing at $0.9296. This surge pushed its weekly increase to over 79.77%, signaling strong market momentum for the token.
The meme-inspired cryptocurrency MEME also witnessed a substantial rise of 71.95%, reaching $0.03721, propelled by the enthusiasm surrounding an ongoing airdrop event that has captured the attention of investors looking for short-term opportunities.
Additionally, BIGTIME experienced a daily growth spurt of 17.24%, with its price hitting $0.1807. Despite this positive movement on the day, BIGTIME’s monthly performance told a different story, remaining in the red with a decline of around -29%.
The trends observed on Tuesday underscore the volatile and dynamic nature of the cryptocurrency market, where investor sentiment can quickly shift from established coins like Bitcoin to emerging altcoins offering the potential for rapid growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
