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Crypto Market Today: On The New Year, 1INCH and Filecoin Continue to Surge, While Tellor (TRB) Dumps Heavily

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.

Tellor (TRB) Coin Chart
Source: TradingView

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.

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