Top cryptocurrency prices today: Binance Coin, Solana, Dogecoin shed up to 6%

Synopsis

The global crypto market cap declined about 3 per cent to $2.57 trillion mark compared to the last day. However, the total crypto market volume zoomed about 24 per cent to $143.10 billion.

Logos and exchange rates of Bitcoin, Litecoin, Monero and Ether to Swiss franc are seen on a cryptocurrency ATM in Zurich.

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New Delhi: The cryptocurrency cart continued to bleed on Wednesday amidst volatility in the market. Barring the two dollar-pegged stablecoins, all other eight out of the top 10 cryptocurrencies were trading with cuts at 9.30 hours IST. Solana and Binance Coin shed 6 per cent, whereas Dogecoin and XRP tanked 5 per cent each.

The global crypto market cap declined about 3 per cent to $2.57 trillion mark compared to the last day. However, the total crypto market volume zoomed about 24 per cent to $143.10 billion.

In the meantime, ET reported that the Indian government is unlikely to shut the door on cryptocurrencies and instead take a nuanced approach. They may not be permitted as currency to settle transactions and make payments but could be held as an asset like shares, gold or bonds.
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Indians’ investments in crypto grew from about $200 million to nearly $40 billion in the past year

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Tech View by ZebPay Trade Desk
Chiliz (CHZ) is a leading digital currency for sports and entertainment, powering the world’s first blockchain-based fan engagement and rewards platform Socios.com. As the exclusive on-platform currency, fans use CHZ to purchase these branded fan tokens.

This gives users influential decision-making power by allowing them to vote on polls within the Socios app. Chiliz fan tokens continue to generate significant trading volumes. To date, Chiliz fan token volume has exceeded $40 billion, most of which has come in the past year alone.

Chiliz, post consolidating between $0.35 to $0.28, gave a breakout on 30th October and skyrocketed upto $0.65. However, the asset was not able to sustain at higher levels and witnessed profit booking from its recent high. Technically on the daily time frame, CHZ is making a ‘Pennant Pattern’ (Continuous Pattern).

Once the breakout occurs above the pattern with good volumes, then we can expect another rally whereas a break below the pattern may lead to further downfall.

Major Levels
Support: $0.42, $0.365
Resistance: $0.5975, $0.657

(Time is in UTC and the daily time frame is 12:00 AM – 12:00 PM UTC)
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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Updated: 11/17/2021 — 00:00