SUMMARY
Cryptocurrencies edged lower on Thursday, reversing most gains from the previous session. The global crypto market cap stood at $840.4 billion, with a volume of nearly $36.7 billion in the past 24 hours.
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"Bitcoin, Ethereum, and most cryptocurrencies plunged with increased selling pressure on Wednesday as whales reduced their inflow volumes," said Edul Patel, CEO and Co-Founder of Mudrex.
2 / 8Bitcoin | The world's largest and most popular virtual currency, Bitcoin, fell 1.4 percent slipping below the $17,000 mark again. At the last count, the token was trading at $16,831.2. Its market value stood at $323.8 billion. The trade volume was at $19.4 billion.
3 / 8On Bitcoin, Patel said, "The next immediate support for BTC lies at the $16,787 level. If BTC hits that support, bears are likely to take advantage of it, pushing BTC toward the $16,000 level. However, if bulls can take BTC above the $17,000 level, we might see an upward trend."
4 / 8Ethereum | The second largest virtual currency, Ethererum or Ether, slumped 3.4 percent to $1,225.4 with a market capitalisation of $150.5 billion. The trade volume of Ethereum was $5.6 billion in the last 24 hours.
5 / 8Dogecoin | Meme-based virtual currency, Dogecoin, plunged 5.2 percent to $0.1. Its market value stood at almost $12.7 billion. The trade volume was at $614.1 million.
6 / 8Solana | Solana plunged 5.8 percent to $13.4 with a market capitalisation of $4.9 billion. The trade volume of Solana was $224 million in the last 24 hours.
7 / 8Shiba Inu | Shiba Inu fell 2.8 percent with a market capitalisation of nearly $5 billion. The trade volume was $109.2 million in the last 24 hours.
8 / 8Polygon | Polygon fell 2.8 percent to $0.9 with a market capitalisation of $7.8 billion. The trade volume was $298.1.1 million in the last 24 hours.
