Bitcoin Price and Ethereum Prediction; Huobi Token Pumps Over 25%
The cryptocurrency market has exhibited a slight recovery, with Bitcoin, the leading cryptocurrency, jumping more than 2.5% to $16,815 after getting rejected at the $17,250 resistance level. Similarly, Ethereum, the second-most valuable cryptocurrency, is rising, reaching $1,286 after violating a symmetrical triangle pattern.
Major cryptocurrencies were trading positively early on December 1, as the global crypto market capitalization increased 0.56 percent in the previous day to $861.06 billion.
Over the last 24 hours, overall crypto market volume grew 5.03 percent to $49.73 billion. The overall volume in DeFi was $3.43 billion, accounting for 6.90 percent of the total 24-hour volume in the crypto market.
The overall volume of all stablecoins was $47.01 billion, accounting for 94.53 percent of the total 24-hour volume of the crypto market.
Let's take a look at the top 24-hour altcoin gainers and losers.
GMX (GMX), Polygon (MATIC), and Zcash (ZEC) are three of the top 100 coins that have gained value in the last 24 hours. The GMX price has soared by more than 12% to $48.80, the MATIC price has grown by more than 6% to $0.9275, and the ZEC price has increased by nearly 5.5%.
ApeCoin (APE), Fantom (FTM), and Helium (HNT) are three of the top 100 coins that have lost value in the last 24 hours. Whereas APE has lost over 7% to trade at $3.97, FTM is down nearly 2.25% to trade at $0.2345. At the same time, the HNT price is down over 3% to trade at $2.45.
According to a corporate blog post published on Wednesday, US-based cryptocurrency exchange Kraken will lay off 30% of its global employees, or over 1,100 individuals, to "adjust to current market conditions."
Since the beginning of this year, financial markets have been under
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