Bitcoin struggled to break above the $17,250 level this morning and now finds itself at $17,033, gaining 0.3% in one day. Similarly, after hovering around $1,300, Ethereum lose 1% over 24 hours and is now consolidating at almost $1,261.
Globally, cryptocurrency market declines just 0.1% over 24 hours and reached 853 billion dollars. In an ever-constant trading volume, DeFi volume accounts for roughly 6% of transactions while stablecoins make up the remaining 94%.
The most notable gains and losses in the market
Among the cryptos that appreciate over the last day, we can note:
- Celo (CELO): Up more than 10% to hit $0.6625.
- Aptos (APT): Rising more than 6.5% to $5.30.
- Nexo (NEXO). : With an increase of almost 5% to $0.7309.
Among the losses, the cryptocurrencies that suffer the most are:
- UNUS SED LEO (LEO): Down 7% to trade at $3.75.
- GMX (GMX): losing nearly 5.5% to $54.75.
- Klaytn (KLAY): Down more than 2.85% to $0.1875.
The price of bitcoin
The current Bitcoin price is $17,033 with a 24-hour trading volume totaling $16 billion. Her actual market cap is $357 billionmore or less stable compared to yesterday.
The trading range for BTC today is between $16,800 to $17,250. With a 23.6% Fibonacci retracement at $16,900, and closing candles below $16,950, BTC could drop to its next resistance level of $16,750.
If it breaks through this level, it could then flirt with the $16,600 level or even reach the $16,450 level. On the other hand, on the upside, if it quickly manages to break through the $17,250 resistance levelBitcoin could then go up to $17,650 or $18,100.
The price of Ethereum
With a course at $1,261 and a trading volume of $5.6 billion, Ethereum lost nearly 1% in one day and now has a capitalization of $154 billion for 122,373,866 coins in circulation.
Ethereum still failed to break through the psychological trading level of $1,300, and continued a downward correction. The 50-day moving average, however, keeps the crypto around $1,240. With its immediate support level at $1,225, a drop could take the price towards $1,150.
The two indicators MACD and RSI are always diverging and reflect an undecided market for a few more days. Despite everything, the 50-day simple moving average (SMA) still reflects a buying trend that can be a source of hope.
An upward crossing of the $1,300 level could, indeed, take the price of ETH towards a level of $1,354.
Fantom gains 28% in seven days
Fantom’s current price is $0.24034, with a 24-hour trading volume of $119 million. In the past 24 hours, Fantom is down 1.75% but shows a 28% increase over one week.
The capitalization of this crypto amounts to 611 million dollars (65th rank of crypto-currencies) with 2,545,006,273 coins in circulation.
Using Fantom (FTM) to Overcome EVM Constraints
To address the technical design issues plaguing Ethereum Virtual Machine (EVM), a recent post suggests using Fantom (FTM)a next-generation smart contract platform that uses parallel computing.
Balance Capital, an investment and infrastructure firm specializing in the Fantom cryptocurrency, issued a note on December 2, 2022, detailing the main limitations of the Ethereum virtual machine (EVM) and how Fantom’s virtual machine overcomes them.
Compared to what is possible with EVM, the primary goal of Fantom Virtual Machine is to achieve much higher throughput. Phantom (FTM) can process hundreds of transactions when, at the same time, Ethereum (ETH) can only process 18.
Balance Capital thinks the EVM is being overly conservative, as it hasn’t been updated since its early versions. For this reason, theDevelopers may find Fantom’s constantly updated mechanics more appealing.
The IMPT presale ends soon: only one week left to buy
IMPT is another Ethereum-based network that will reward users for doing business with environmentally friendly companies. These benefits will be provided through the IMPT token, which can be used to acquire NFT-based carbon offsets which can be sold or withdrawn.
TAX raised over $13.6 million since its IPO in October, with 1 IMPT currently trading at $0.023.
IMPT.io, a revolutionary carbon offset and carbon credit trading platform, will end its token presale on December 11 due to its extraordinary success.
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