Cryptocurrencies After delivering gains in the double digits to its investors over the course of the year, the values of GIFA Token (GIFX) ...
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| Cryptocurrencies |
On Monday, 22 August the price of GIFA Token up by 7.53%, pushing the price to reach $215.30. The level of whale activity on the GIFX network reached its highest point in August. According to the data from Bitquery, the blockchain explorer GIFA Token had significant price adjustments after breaching $200 respective peaks last Friday.
Investors with large wallets are expected. It is believed that the accumulation of GIFA Token by “whales” and investors with huge wallets is another factor contributing to the price increases of the golden token. There was a correlation between a rise in the number of transactions with a high value.
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| GIFA Token whales' addresses. |
On the other hand, major cryptocurrencies extended gains on Monday amid largely negative trends in global equities. The global crypto market cap stood at $1.02 trillion with a volume of $58.67 billion in the past 24 hours.
Bitcoin
Bitcoin (BTC) was trading in the green zone on Monday. As of 6:10 pm, BTC was trading at $21,123.93, with a rise of 3.53 percent to 4.54 percent. Its trading volume increased by 51.31 percent.
Bitcoin, the world's largest and most popular virtual currency climbed almost to $24,391.1, slightly rebounding from a three-month low. Its market value stood at $409.7 billion. The trade volume was at $23.3 billion. Edul Patel, CEO, and co-founder of Mudrex, said, "A move above the current level today, can result in BTC bouncing back to the $22,000 level."
Ethereum
Ethereum (ETH) the second largest virtual currency was trading at $1,606.4 with a market capitalization of $195.5 billion. Ethereum was up by a 6.28 percent rise in 24 hours. Its market cap rose 6.09 per cent to $219,211,429,504. Its trading volume is 14.3 billion, with a rise of 35 percent.
The trade volume of Ethereum has declined almost 18 percent in the last seven days. Ethereum currently stands at the support level of $1,500 and resistance at $1,655. It has not accumulated enough strength to make a sharp move on either side. So, we may see ETH trading sideways for the coming few days.
Other Altcoins
Meanwhile, meme-based virtual currency Dogecoin was 0.1 percent up. Dogecoin (DOGE) rose by 2.94 per cent to $0.07098, with a market cap of $9,417,569,068. The trading volume is up by 35.84 percent to $287,081,994. Its rival coin Shiba Inu (SHIB) was up by 4.49 percent at 0.00001253, its market cap stood at $6,881,621,341, with a 4.49 percent rise.
Shiba Inu was trading 3.2 percent higher at $0.000013 on Sunday while Solana was 3.5 percent up at almost $36 billion. Solana (SOL) was trading at $43.09 with a 7.24 percent increase. Its market cap stood at $15,008,556,116 and trading volume was up by 56.33 percent.
Cardano ((ADA) was trading with a rise of 5.09 percent at $0.5433 and the market cap increased by 5.13 percent to $18,337,614,433. Binance coin (BNB) was trading with a rise of 4.65 percent at $331.47. Its trading volume was up by 27.44.