The Crypto Market Faces a 1.22% Plunge
The crypto market has started the week on a downward trend, experiencing a 1.22% plunge today. Low investor appetite has resulted in minimal trading activity in the last 24 hours.
Oil Prices Impact Gulf Stock Markets
Gulf stock markets have followed the downward trend of oil prices, with major stock markets in the region experiencing declines in early trade on Monday. Brent approaching $80 per barrel has led to anticipation of an agreement to limit supplies into 2024 at the upcoming OPEC+ meeting later this week.
Declines in Saudi Arabia and UAE Stock Markets
Saudi Arabia’s benchmark index decreased by 0.2%, led by declines in oil giant Saudi Aramco and auto rental firm Lumi. Abu Dhabi’s index witnessed a 0.3% decline, while Dubai’s primary share index faced a 0.2% downturn, mainly influenced by a decrease in the leading lender Emirates NBD.
UAE Plans to Increase Murban Crude Exports
The United Arab Emirates plans to escalate its flagship Murban crude exports in early 2024. This aligns with a new OPEC+ mandate and redirects barrels to the global market due to refinery maintenance.
Top Trending Crypto Coins on DEXTools
1. QSTAR (Q*)
The price of QSTAR (Q*) is $0.00064032 today, witnessing a remarkable surge of 114.01% in the last 24 hours. Q* aims to become a top-trending coin, although data regarding its circulating supply and market cap remains unavailable.
2. LiquidLayer Token (LILA)
LiquidLayer (LILA) is trading at $1.51, boasting a substantial surge of 22.32% in the last 24 hours and an exceptional surge of 580.71% over the past seven days. With a circulating supply of 6.8 million LILA tokens, it has a market capitalization of $9.98 million.
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