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Major currencies were trading lower on Monday night and the global cryptocurrency market capitalization fell 3.29% to $ 2.05 trillion.
What has happened
Bitcoin (CRYPTO: BTC) was down 1.82% to $ 45,210.12 over the course of 24 hours. The apex cryptocurrency is down 13.91% for the week.
The second largest coin by market capitalization, Ethereum (CRYPTO: ETH), fell 2.23% to $ 3,319.65 after a 24-hour monitoring period. Over the course of seven days, ETH is down 14.92%.
The price of Cardano (CRYPTO: ADA) dropped 4.74% to $ 2.42. During the week, ADA is down 14.36%.
The cryptocurrency that was born as a joke, Dogecoin (CRYPTO: DOGE), was trading 4.42% lower at $ 0.24. Over the course of a week, DOGE has plunged 22.71%.
Synthetix (CRYPTO: SNX) turned out to be the coin that benefited the most from Monday night, as it rose 15.85% to $ 12.65. Over the course of a week, the token of the decentralized finance protocol has fallen 6.77%.
Against BTC and ETH, SNX was up 18.46% and 19.28%, respectively, after a 24-hour follow-up period.
Other stocks that had performed particularly well after a 24-hour follow-up period prior to press time were Mine (CRYPTO: MINA), Zeal (CRYPTO: CELO) and Stacks (CRYPTO: STX).
In that period, MINA soared 15.59% to $ 5.87, CELO rose 8.14% to $ 5.41 and STX rallied 3.28% to $ 1.51.
Because it is important
Microstrategy Incorporated (NASDAQ: MSTR) announced in a filing with the US Securities and Exchange Commission (SEC) that it had acquired 5,050 BTC for nearly $ 242.9 million.
The company run by Michael Saylor He claimed that he had added 8,957 BTC to his corporate BTC treasury in the third quarter of 2021 and that he now held around 110,042 BTC, which he had acquired at an average cost of $ 27,713 per coin.
On Monday, Saylor tweeted with the hashtag Bitcoin and expressed: “Whoever runs the most does not go further.”
Analysis firm Glassnode claimed in a blog post on Monday that the long-term owners of BTC have not been fazed by the sell-off that took place last week.
“We also note that supplies held by LTHs (long-term owners) have reached 79.5% of all BTC coins this week, which is equivalent to the level that was reached in October, before the start of the bull market,” just as the signature wrote.
Glassnode defines long-term owners as “high-conviction buyers” whose coins have passed the 155-day threshold.
In the meantime, Litecoin (CRYPTO: LTC), a fork of BTC, skyrocketed on Monday after a fake press release circulated saying that Walmart Inc (NYSE: WMT) had formed a significant partnership with the latter.
At press time, LTC was trading 0.49% higher at $ 179.92. The cryptocurrency is trading 22.8% below the 24-hour intraday high of $ 233.06 it posted on Monday.
The Litecoin Foundation recognized on Monday members of his social media team were “a bit anxious” and shared the story from the official Twitter account after it was covered by prominent media outlets such as Reuters.