/ Explore the latest in the crypto market: 1INCH and Filecoin surge, while Tellor faces a dramatic pump and dump.
Author: Nilesh Hembade.
Date: 01 Jan 2024, 11:39 AM IST
As we usher in the new year, the crypto market is showcasing both excitement and volatility. After a roller-coaster journey in 2023, the first crypto market report of the year reveals stability in major cryptocurrencies, with Bitcoin and Ethereum holding their ground.
Bitcoin and Ethereum Stability: Bitcoin (BTC) is currently priced at $42,232, experiencing a marginal decrease of 0.07% in the last 24 hours, with a market cap standing at $827 billion. Ethereum (ETH) is trading at $2,275, reflecting a -0.46% change in the last 24 hours, and boasts a market cap of $273 billion.
1) Filecoin (FIL) Surges:
In a notable turn of events, Filecoin (FIL) has been making waves in the cryptocurrency market. Over the last 30 days, FIL has surged by an impressive 55.11%. Today, the price of the FIL token, affiliated with Filecoin, has witnessed a surge of +12.96%, reaching $6.88. The market cap for the FIL token now stands at $3.37 billion.
2) 1INCH Network Gains Momentum:
Simultaneously, the 1inch Network (1INCH) is also experiencing positive momentum. The 1INCH token has recorded a gain of 26.41% in the last 24 hours, reaching $0.5366. The market cap for the 1-inch token is currently valued at $598 million.
Tellor (TRB) Faces Shocking Pump and Dump:
However, the crypto market has not been devoid of surprises, as Tellor (TRB) witnessed a shocking pump and dump today. The TRB token’s price skyrocketed from $200 to $600 within 24 hours, only to be swiftly dumped by significant market whales, bringing its value down to $182.30.
According to reports from Coingape, the TRB contract liquidation during this period reached an unprecedented amount, surpassing $60 million.
This unexpected turn of events highlights the unpredictable nature of the crypto market, where rapid fluctuations can lead to significant gains or losses in a short span of time.