The crypto market recovered slightly today as the global crypto market cap was up 0.08% at $854.54 Billion at the time of writing this article. The total crypto market volume over the past 24 hours is $35.30B, making it a decrease of 7.14%.
Meanwhile, the world’s largest cryptocurrencies, Bitcoin and Ethereum, were up slightly, 0.13% and 0.14% at $17,032.44 and $1,263.00, respectively.
The top cryptocurrencies which contributed to today’s gains in the broader market included ApeCoin (APE), Axie Infinity (AXS), and XRP, up 2.80%, 2.36%, and 1.11%.
XRP:
Today, XRP was spotted trading at USD$0.387387 with a 24-hour trading volume of USD$ 778,911,873. XRP price has gained 1.11% in the last 24 hours. With a current market cap of USD$19,470,244,435, it ranks seventh in the CoinMarketCap ranking. XRP has a maximum supply of 100,000,000,000 XRP coins.
It is to be noted that XRP has rallied in the past, as the court’s ruling in the SEC Vs. Ripple case was considered in favor of Ripple. Besides, it seems that the absence of any new update from the ongoing SEC lawsuit against Ripple has left XRP on the defensive.
Axie Infinity (AXS):
Axie Infinity is up 2.36% at USD$8.96, with a 24-hour trading volume of USD$475,718,975. The current CoinMarketCap ranking of AXS is #48, with a current market capitalization of USD$901,393,581. Axie Infinity has a maximum supply of 270,000,000 AXS coins.
The price of Axie Infinity has gained almost 29% in the last seven days.
ApeCoin (APE):
The live ApeCoin price today (7 December 2022) is USD$4.09 with a 24-hour trading volume of USD$195,629,612. ApeCoin has risen 2.80% in the last 24 hours. The altcoin has a current CoinMarketCap ranking of #32, with a live market capitalization of USD$1,476,054,067.
Apecoin has a maximum supply of 1,000,000,000 APE coins.
Positive news from the crypto market:
As per media reports, Wall Street giant Goldman Sachs is planning to spend tens of millions of dollars to acquire or invest in crypto companies following the collapse of the FTX exchange hit valuations and dampened investor sentiment.
Noticeably, Goldman is known to have invested in 11 digital asset companies that offer services, including compliance, cryptocurrency data, and blockchain management. The company is reportedly also building its own private distributed ledger technology.
Major US indices close in red on Tuesday:
Major US indices closed in red on Tuesday. The S&P 500 dropped for a fourth straight session in the overnight trading on Wall Street. The S&P 500 was down 1.44% at 3,941.26 points. Meanwhile, Nasdaq Composite slumped 2% at 11,014.89 points, while the Dow Jones Industrial Average settled 1.03% lower at 33,596.34 points.
In the broader market, recession concerns continue to dent investors’ sentiments, while there are expectations of a relaxation in the Fed’s rate hike when it meets next week.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
