The cryptocurrency market has seen a lot of volatility and action in the past 24 hours, with some coins gaining and some losing ground. Here are some of the highlights of today's crypto news:
- Bitcoin trades near $28,000 after a slight recovery from yesterday's dip. The leading cryptocurrency is still down by 13.83% compared to last week, but some analysts believe that it may bounce back soon if it can hold the $29,000 support level . Bitcoin's market cap is currently $526 billion, accounting for 41.5% of the total crypto market cap.
- Ethereum surges 10% to hit $2,100, reclaiming its second spot in the crypto rankings. The second-largest cryptocurrency has been outperforming Bitcoin in recent days, thanks to the growing adoption of its network and the anticipation of its upcoming upgrade, Ethereum 2.0. Ethereum's market cap is now $242 billion, representing 19% of the total crypto market cap.
- Dogecoin gains 8% to trade at $0.0026, following a spike in trading volume and social media buzz. The meme-inspired cryptocurrency has been on a roller coaster ride this month, reaching an all-time high of $0.0047 on April 16 and then plunging to $0.0018 on April 18. Dogecoin's market cap is currently $33 billion, making it the seventh-largest cryptocurrency by market cap.
- Shiba Inu becomes the 14th-largest cryptocurrency by market cap, overtaking Avalanche and Chainlink. The dog-themed token, which claims to be a "Dogecoin killer", has soared by more than 300% in the past week, reaching a new high of $0.00001166 earlier today. Shiba Inu's market cap is now $11 billion, fueled by its listing on several exchanges and its popularity among Chinese investors.
- Zilliqa, Internet Computer, Synthetix, Casper, and Chainlink are the top gainers of the day among the top 100 cryptocurrencies by market cap. They are trading at $0.033 (up 11.12%), $6.92 (up 9.54%), $3.01 (up 7.88%), $0.055 (up 7.51%), and $8.55 (up 5.54%), respectively.
- Conflux, Frax Share, SingularityNET, Rocket Pool, and Mina are the biggest losers of the day among the top 100 cryptocurrencies by market cap. They are trading at $0.33 (down 12.36%), $8.88 (down 11.76%), $0.33 (down 11.40%), $50.15 (down 11.08%), and $0.77 (down 10.82%), respectively.
That's all for today's cryptocurrency news roundup. Stay tuned for more updates and analysis on the crypto space.