Crypto News- October 12 Crypto Prices: the cryptocurrency market experienced some turbulence in maintaining its positive momentum. Major cryptocurrencies displayed a mixed performance, while various macroeconomic factors appeared to exert their influence on investor sentiment. The crypto market’s fear and greed index dipped into a “fear” zone, registering at 40.
October 12 Crypto Prices: BTC and Pepe Coin Slip as LOOM Rises
Investors found themselves grappling with the potential implications of the Israel conflict on the global economy. Furthermore, the latest economic data revealed that U.S. inflation had surged to its highest annual rate since April. The U.S. Producer Price Index (PPI), a pivotal gauge for tracking inflation, witnessed a notable 2.2% increase in September, marking its most significant surge since the 2.3% jump observed in April.
Bitcoin grappled with maintaining its position above the $27,000 threshold, with a 0.95% decrease, bringing its price down to $26,841.60. Despite this, its 24-hour trading volume increased by 13.64%, reaching $12.68 billion.
Ethereum, on the other hand, exhibited some resilience, posting a modest 0.15% increase, pushing its price to $1,562.43. However, its 24-hour trading volume saw a decline of 9.47%, settling at $4.97 billion, while its market capitalization inched up by 0.13% to $187.86 billion.
XRP faced a minor setback, experiencing a 0.81% decrease, which brought its price to $0.4864. Nevertheless, its 24-hour trading volume saw a 3.82% increase, reaching $735.26 million.
Solana witnessed a more substantial dip, with its price slipping by 2.14% to $21.72. Its 24-hour trading volume, however, increased by 7% to $270.05 million.
The prevalence of meme coins suggested that investors were beginning to shift their focus towards safer assets amidst the ongoing market volatility.
Dogecoin experienced a 1.17% decline, with its price reaching $0.05827. Simultaneously, its 24-hour trading volume decreased by 4%, settling at $128.81 million.
Shiba Inu underwent a 1.08% drop, with its price at $0.000006793. On the brighter side, its 24-hour trading volume increased by 0.91%, reaching $72.69 million.
The global cryptocurrency market cap observed a 0.45% decline, settling at $1.05 trillion, after a brief ascent to around $1.09 trillion earlier in the week. The overall market volume increased by 1.42%, reaching $25.64 billion at the time.
Here are some noteworthy performances from the day:
Pepe Coin experienced a 1.39% decrease, trading at $0.0000006342. Its 24-hour trading volume saw a substantial 46.51% drop, settling at $43.27 million. The crypto’s market cap also declined by 1.40% to $248.22 million.
Loom Network (LOOM) was a standout performer, with a significant 10.57% price increase, reaching $0.2132. It even reached its yearly high of $0.2167 on that day.
Frax Share (FXS) posted a gain of 4.40%, bringing its price to $5.44. Its 24-hour trading volume saw a remarkable 47.36% increase, reaching $19.06 million. Despite these recent gains, the cryptocurrency had experienced a more than 3% loss over the past week.
Gala (GALA) displayed a robust performance, with a 3.36% price increase, reaching $0.0135. While its 24-hour trading volume decreased by around 18% to $27.32 million, the market cap of the cryptocurrency rose by 4.11% to $336.17 million. Although no specific news events could explain this surge, the cryptocurrency’s price gains during a period of market downturn attracted attention on that day.
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