The crypto market was in a positive direction yesterday. Almost every cryptocurrency and bitcoin have shown some gain in the past 24 hours. Bitcoin and Ethereum rose with some other altcoins like Solana. This crypto news will give investors an idea of when to enter this crypto space.
The crypto market cap also goes up with a slant margin of 0.37% to $919.96 billion, but its trading volume declined by 99.93% to $1.25 million.
Here, the most trending crypto coin was Bitcoin. The top-gaining cryptocurrency was Casper, whose price increased by 17.94% to $0.04742. At the same time, the top losing cryptocurrency was Terra Classic USD, which declined by 9.85% to $0.3732.
Key points:-
- The most trending crypto coin was Bitcoin within 24 hours.
- Casper was the top gainer crypto within 24 hours by 17.94% to $0.04742.
- Terra Classic USD was top which closed 9.85% within the 24 hours.
Cryptocurrency Prices
Bitcoin was stagnant yesterday and has not shown interesting movements the whole day. But later on, we experienced some movements at midnight, where the price of Bitcoin moved from $19,100 to $19,300.
The price of Bitcoin rose by 0.42% to $19,201.39.
The lowest intraday price of Bitcoin was $19,118.05, where its trading volume increased by 16.20% to $18,485,245,920.
Ethereum has also shown the same movements as Bitcoin, where the market was moving in the same zone. The price wasn’t moving in any direction, but the Ethereum price started moving in the upward direction late at night. It covers the range from $1280 to $1330 levels within just 2 hours.
The price of Ethereum increased by 3.48% to $1331.70.
The lowest intraday price of Ethereum was $1281.28, where its trading volume increased by 13.92% to $7,676,065,062.
Other Altcoins
Ripple’s price was down by 3.56% to $0.4,686, and its 24-hour trading volume was increased by 40.75% to $1,136,438,024.
The price of Cardano increased by 0.57% to $0.3680, and its trading volume was down by 0.83% to $338,728,178.
Binance has shown a growth of 0.72% to $271.70, and the trading volume has increased by 11.13% to $555,900,745.
Solana’s price was also up by 0.75% to $29.98.
Meme Coins
The price of Dogecoin fell by 0.72% to $0.0586, and the trading volume went down by 13.40% to $158,842,838.
Shiba Inu’s price went down by 0.46% to $0.00001023.
Why is the crypto market experiencing mixed sentiments?
After a rough period and experiencing a roller coaster journey, the cryptocurrency market is finally moving into the green zone. The global cryptocurrency market is expected to reach a positive zone after January 2023.
According to a report, the price of bitcoin, one of the largest cryptocurrencies, can go higher after January. 2022 has not been in favor of cryptocurrencies, and it has experienced high volatility.
The market capitalization of cryptocurrencies has slid to $900 billion from its highest $3 trillion in just one year. Most of the crypto entered in the red zone this year, witnessing losses.
Bitcoin, one of the largest cryptocurrencies by market capitalization, experienced a high of $69000 in 2021. The price of Bitcoin slid below $47,000 in January 2022. Currently, Bitcoin is trading at around $19,118.05. Similarly, Ethereum is also trading below the $18,000 level after the FTX downfall.
Is It Safe To Invest In Cryptocurrency Right Now?
This is not the crypto market’s first time to experienced such volatility. Whether its the Terra-Luna crash, Russia-Ukraine war, Fed rate hikes, and now FTX downfall, crypto investors are learning something good every day from the market. These situations are demanding some better rules for cryptocurrencies which can reduce volatility and fear of new investors.
The series of unfortunate events significantly affected the investor’s sentiments. The investors are playing more cautiously due to the negative outcomes they received and being more transparent about what they are investing in.
Conclusion:-
While the cryptocurrency market is recovering, and its a good sign for the market. It’s suggested to do well research before making any investment decision. For all investors, the regulatory environment is a step to increase digital assets’ transparency. Whether you are buying dips or waiting for the market to recover fully, take a step after knowing everything about the crypto market. Investing only the minimum amount you can afford to lose is also advised.
FAQs:-
How do I keep my cryptocurrency safe?
You can keep your crypto using a wallet. Wallets store your funds securely, and no other can access them.
How do I buy cryptocurrency?
You can buy cryptocurrency on exchange platforms such as Coinbase, Gemini, and e-toro.
What is the market capitalization of cryptocurrencies?
The market capitalization of cryptocurrencies is currently at $919.96 billion, which is a slight increase of 0.37%.
What are the top-gaining and top-losing cryptocurrencies within the past 24 hours?
Casper is the top-gaining cryptocurrency within the past 24 hours, with a 17.94% increase in its price, while Terra Classic USD is the top-losing cryptocurrency with a 9.85% decline in its price.
