📊🔻 Why Is Crypto Down Today?🔻📊
The cryptocurrency market experienced a downturn after a brief rise, influenced by regulatory and institutional developments. Bit Trade, which operates Kraken in Australia, was fined $5.1 million by the Australian Federal Court for offering margin trading without proper client suitability checks.
The Texas House proposed legislation to create a strategic Bitcoin reserve in the U.S.
The total market cap of cryptocurrencies fell by 2.9% in the last day, now standing at $3.77 trillion. Daily trading volume in the crypto market has decreased to $262 billion, lower than recent trends.
A majority of the top 100 cryptocurrencies by market cap have seen their values decrease.
📊 Top Meme Coins Are Down 4% On Average Today
In the meme coin category, only one coin has increased in price today. Floki Inu (
$FLOKI ) showed a marginal increase, but its price remains virtually unchanged at $0.00024.
Previously strong performers in the meme coin market, like Coq Inu and Baby Doge Coin, have now seen significant drops, with declines of 7.4% and 7% respectively. Other meme coins have experienced declines ranging from 0.5% to 5.5%.
Major meme coins Dogecoin (
$DOGE ) and Shiba Inu (
$SHIB ) dropped by 2.6% and 3.3%, now trading at $0.40653 and $0.00003 respectively. Despite the recent decline, there's an anticipation that meme coins could rally again soon.
📍Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.
Thank you for reading.
#TopCoinDecember