Global Cryptocurrency Heatmap Check
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The global cryptocurrency market observed a moderate increase in the last 24 hours, reflecting a 0.20% rise in its market cap to $1.61 trillion and a surge in trading volume to $68.83 billion, marking a 5.75% increase. Within the crypto sphere, DeFi contributed substantially, accounting for $7.85 billion in trading volume over the past 24 hours, or 11.40% of the total crypto market activity. The digital currency stablecoins maintained their dominance, constituting a 90.04% share of the total 24-hour crypto market volume at $61.98 billion. Bitcoin saw a minor decline in dominance, currently resting at 51.88%, down by 0.26% over the day. A security breach affecting a crypto protocol caused concern, with a disclosed loss of over $600,000 and questions raised about the safety of digital assets.
Render Network Crypto
The Render Network emerges as a pioneering force in decentralized GPU-based rendering solutions, acting as a bridge linking node operators with artists needing 3D rendering capabilities. Its native token RNDR trades at $4.50, with a market cap of $1.69 billion and a surge of 22.60% in the last seven days. Analysts speculate a bullish trajectory with a targeted level of $5.30.
SpongeBob (SPONGE) Analysis
Cryptocurrency SpongeBob (SPONGE) performed well in the last 24 hours, marked by a 5.80% increase over the past week. Its active trading across mainstream exchanges suggests potential future growth. Analysts forecast a range between $0.000403 and $0.000898 in 2024, indicating a potential gain of up to 506.90% from today’s price. The Relative Strength Index (RSI) at 70.62 suggests an overbought position for SPONGE.
ORDI (ORDI) Crypto’s Rise
ORDI’s surge to over $60 from a year-to-date low of $2.5 and its potential upside in 2024 raise investor interest. The Federal Reserve’s monetary policy meeting decision and Bitcoin Ordinals ETFs success could potentially boost ORDI’s performance this year. Hot Take
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