Following a dip following China's declaration that all cryptocurrency transactions are prohibited, major coins saw low-level buying on Monday, gaining up to 11%. Ethereum was the greatest gainer among the top ten coins, up about 10%. Solana, XRP, and Bitcoin all gained 4 to 7%. Others were in the green as well. With a 32 percent gain, Uniswap was one of the biggest major gainers outside of the top ten.
The total crypto market valuation is now $1.94 trillion, up 2.10 percent from the previous day.
The overall crypto market volume over the last 24 hours has decreased by 11.71 percent to $97.36 billion dollars. The overall 24-hour volume of all stable coins is now $78.13 billion dollars, accounting for 80.25 percent of the total crypto market volume.
Bitcoin has dropped over 20% from its multi-month high of over $52K, following a flash crash, some consolidation, and yet another crypto ban by China. As the market awaited Bitcoin's September blues to give way to October highs, it longed for a miracle to boost the price.
The current price of Bitcoin is $43,736.43. Bitcoin's market share is now 42.31 percent, down 0.29 percent from yesterday.
Tokens from the decentralised financial field have had even more significant gains in the last 24 hours, with Uniswap seeing a stunning 30 percent increase.
Traders and developers have continued to embrace Ethereum (ETH) network alternatives that provide faster transaction times and lower costs, resulting in increased competition among layer-one (L1) smart contract platforms in recent months.
As indigenous crypto exchanges like Huobi take aggressive measures to secure and repay existing money residents on the mainland, the anxieties caused by China's blanket ban on crypto trading have subsided.
On the Cardano blockchain, a new stablecoin will provide a mechanism for decentralized finance (DeFi) activities while avoiding transaction costs.
Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sunday at the Cardano Summit that Coti, Cardano's payment gateway provider, will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network.
Top cryptocurrency prices
Binance Coin: $346.78