The crypto markets have been on a rollercoaster ride in the past few days, and the trend continues today. The total market capitalization of cryptocurrencies is currently around $1.8 trillion. Bitcoin is still the dominant player, taking up nearly 40% of the market cap.
Looking at the previous day’s performance, we saw some major volatility across the board. Bitcoin rose 1.5%, Ethereum gained 4.3%, and Binance Coin climbed 5.3%. Other major gainers include XRP (+2.9%), Litecoin (+3.7%), and Cardano (+3.7%).
On the other hand, the biggest losers were Uniswap (-15.3%), Polkadot (-7.3%), and Chainlink (-6.2%). It seems the day was marked by a general increase in prices, but some coins still ended up in the red.
The upcoming week is set to be an eventful one in the crypto space. The Ethereum 2.0 network is scheduled to launch on December 1st. This will mark the beginning of a new era for Ethereum, as the network transitions from a proof-of-work to a proof-of-stake consensus mechanism.
In addition, the highly anticipated Bitcoin halving event is set to take place in just a few days. This event occurs roughly every four years and is a major milestone for the Bitcoin network. It reduces the reward miners receive for verifying transactions, potentially reducing the supply of Bitcoin in circulation and pushing up its prices.
Finally, the SEC is expected to make a decision on the VanEck Bitcoin ETF application. If approved, this would mark a major milestone for the crypto industry, as it would allow institutional investors to purchase Bitcoin through a regulated ETF.
Overall, the crypto markets have been experiencing some major volatility, and the trend is likely to continue in the near future. While the upcoming week is set to be an eventful one, only time will tell what the future holds for the crypto industry.
