Crypto-currency prices traded in the red zone today, while the global crypto market capitalization was down 1.81% to $841.11 billion. The total volume of the crypto market in the last 24 hours is $30.35 billion, which is an increase of 26.98%.
Meanwhile, the price of major crypto-currencies, including Bitcoin and Ethereum, collapsed by 1.36% and 2.07% to US$16,940.30 and US$1,246.86, respectively.
Stacks (STX), the biggest crypto gainer on Dec. 9, remained the biggest gainer today as well; at the time of writing, it was up 7.83% at $0.3063. Other crypto currencies that traded in the green were Trust Wallet Token (TWT), ApeCoin (APE) and Toncoin (TON).
Top losers in crypto today (Dec. 12):
Today, Solana’s price was down 4.68% at $12.99 USD with a 24-hour trading volume of $162,457,137 USD. Solana has a current market capitalization of $4,761,325,961 and its current CoinMarketCap ranking is 16.
STEPN is down 0.42% today at $0.401218 USD with a 24-hour trading volume of $54,790,988 USD. According to data from Coinmarketcap, STEPN’s current ranking is 110, with a live market capitalization of $240,730,522 USD$. The altcoin has a maximum supply of 6,000,000,000 GMT coins.
Today, the price of Dogecoin dropped as much as 9.57% to trade at $0.087669 USD$ with a 24-hour trading volume of $569,703,934 USD$. With a live market capitalization of $11,631,053,686 USD$, Dogecoin is in the eighth position according to CoinMarketCap data.
Nevertheless, losses in the broader market have been led by other crypto-currencies as well. Among other crypto-currencies, two other popular altcoins, Ripple (XRP) and Cardano (ADA), were down 3.30% and 3.39% to USD 0.374880 and USD 0.302819, respectively.
Investors are in a holding pattern:
It is believed that investors have become more cautious and are in a holding pattern ahead of this week’s events. This can be said as the price of bitcoin is not showing any movement. The U.S. Congress is expected to hold its first hearing on the FTX collapse on Tuesday (Dec. 13), and the Senate Banking Committee will follow the next day.
Meanwhile, investors are keeping a close eye on the results of the Federal Open Market Committee meeting scheduled for December 14. Markets are also awaiting the November Consumer Price Index (CPI) data, which will be released on Tuesday, and the Federal Reserve (Fed) meeting scheduled for Wednesday.