According to trading venue statistics, BTC was trading below $47,000, down 3.16 percent, DOGE was down 4.44 pct, and SHIB was bottom 6.07 percent.The year 2021 is drawing to a close, but the drop in cryptocurrency values is not. Major cryptocurrencies have continued to fall ahead of Friday's expiration of a $6 billion crypto options contract. According to data from coinmarketcap.com, the worldwide cryptocurrency market cap is $2.18 trillion, with trading volume down 6.19 percent to $95.92 billion as of 8:38 a.m.
In a recent podcast, Tesla CEO Elon Musk stated that he does not completely comprehend Ethereum-based smart contracts. When certain pre-programmed circumstances are satisfied, smart contracts have the capacity to self-execute. "I don't know if Mars would have a cryptocurrency, but it definitely seems plausible," Musk continued, predicting the official currency of Mars.
According to Forbes, Musk went even farther to forecast Mars' official currency, saying, "I don't know if Mars would have a cryptocurrency, but it definitely seems possible, but it would be some type of localised entity on Mars."
The market is evolving at its own speed, and it is more transparent than ever before. Bitcoin (BTC) was trading above $50,000 just two days ago, but it is now trading at $46,567.63, down 3.16 percent, and still falling. Ethereum (ETH) fell 4.57 percent to $3,643.94 on Friday. However, its trade volume climbed by 1.57 percent to $16,532,564,738.
Following the dip, Bitcoin has had a retracement and is now trading below $47,000. The market continues to expect the put option to expire on December 31st.
"Smart contract platform tokens like as ALGO and NEAR have soared, but only NEAR is now gaining traction," said Gaurav Dahake, CEO of Bitbns, a crypto exchange.
Binance Coin (BNB) is down 4.64 percent to $515.44, while Solana (SOL) is down 6% to $169.46, among other significant coins.
The SORA validation token (VAL) was the biggest gain today, rising 4,145.79 percent to $0.4569. Solanyx (SYX) was the biggest loss, falling 99.92 percent to $0.00000303.
DeFi & Meme Coins
Dogecoin (DOGE) was traded at $0.1694, down 4.44 percent, while Shiba Inu (SHIB) was down 6.07 percent at $0.00003354.
ELON is down 6.88 percent to $0.000001422, Floki Inu is down 15.59 percent to $0.00009454, and Samoyed Coin (SAMO) is down 6.02 percent to $0.0379.
YFI (yearn.finance) traded at $28,620.00, down 2.11 percent in the DeFi category. Terra (LUNA) is now trading at $82.16, down 5.78 percent. Avalanche (AVAX), on the other hand, fell 10.29 percent to $98.62. Uniswap (UNI) was trading at $16.79, down 12.06 percent.
In a recent economic research analysis, Arcane Research predicted that Ripple (XRP) and ADA will end up in the top 10 cryptocurrencies by 2022. They also predicted that most cryptocurrencies will lose popularity with traders, and that "most of these tokens would start to sink towards oblivion," according to cryptopotato.
Meanwhile, according to Newsies, North Korean state-sponsored hackers have amassed a fortune of $1.7 billion from their cyber operations over the last five years. "The US authorities revealed that North Korean hackers worked with other tax evasion offenders to steal virtual assets from three virtual asset exchanges and launder the proceeds," the US Federal Prosecutor's Office claimed.
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