Why Is Crypto Down Today?
After a single day of increase, the crypto market went back down today amid regulatory and institutional trends affecting the overall space.
The Australian Federal Court fined Bit Trade, Kraken‘s local operator, $5.1 million for providing margin trading loans to over 1,100 clients without ensuring product suitability.
However, the Texas House introduced a bill to establish a strategic Bitcoin reserve in the US.
The global cryptocurrency market capitalization has dropped 2.9% over the last 24 hours to $3.77 trillion.
Also, at the time of writing, the daily crypto trading volume is $262 billion – lower than we’ve seen over the past few weeks.
Most of the top 100 coins per market cap have decreased yet again.
Top Meme Coins Are Down 4% On Average Today
Only one in the top meme coin category has seen its price increase today.
Floki Inu (
$FLOKI ) is green, but its increase is so low that its price is practically unchanged, standing at $0.00024.
Just like in the previous category, here, too, yesterday’s best performers are today’s worst performers. Coq Inu (COQ) fell 7.4%, while Baby Doge Coin (BABYDOGE) decreased by 7%.
Other coins on this list are down between 0.5% and 5.5%.
The top coins, Dogecoin (
$DOGE ) and Shiba Inu (
$SHIB ), decreased by 2.6% and 3.3% to $0.40653 and $0.00003, respectively.
However, despite the overall drop, meme coins have the potential to experience another surge soon.
Thank you for reading.
#TopCoinDecember