TL;DR Breakdown
- Bitcoin lurks to gain momemtum but fails
- Ethereum moves below $3,200, lingers past the setback
- StarGod continues its journey ahead, adding 780%
- Solana sheds 5.38% and marches closer to $136
The market continues to sink, for there’s no change in the trend as the currencies continue to shed by large margins. As the significant drivers of this market, the crypto market relies highly on bitcoin’s trajectory; all eyes are on bitcoin’s revival after the recent dip.
The market price of top currencies including Bitcoin, Ethereum, Solana, and Cardano has dropped by 2 to 6% over the last 24 hours, and the overall crypto market lingers, leading to a decrease in its trading value.
Bitcoin plunges by 2.97%
It had seemed an exciting week for Bitcoin as critical indicators suggest a comeback from it over the weekend. However, according to the numbers, the market value of Bitcoin continues to shed by 2.97%. Bitcoin has fewer chances to carry itself post the significant dip in the past week.
Source Trading View
The current bitcoin market price is $42,628; the price declined by 2.97% over the last 24 hours. The current market cap for bitcoin is estimated to be $788 billion, while the trading volume is $23.8 billion
It is predicted that Bitcoin will take away the market share of gold in 2022. Though we are not sure of how much truth it holds, there are chances for cryptocurrency to be accepted globally soon.
Ethereum slides down the hill
Ethereum seems to be following the path of Bitcoin and continues to slide downwards by 4.35% over the last 24 hours and falls below $3200. The coin is still losing behind almost 1% of its last market price.
Source Trading View
Ethereum is one of the top cryptocurrencies tradings right now, but the coin has had a decent amount of dips over the last period. The coin market cap experiences a dent and has fallen to $371 billion.
The current market price of Ethereum is $3,129, while its 24-hour trading volume is estimated to be $13 billion.
StarGod continues its journey ahead, adding 780%
Amidst the market crash, smaller or newer coins have held firm and accelerated higher than expected. StarGod continues to climb the charts high by a large margin of 780% in the last 24 hours.
Source Trading View
As of this writing, the current market price of StarGod is $0.000180, with a market cap of $35,122. The price has risen by 780% in the last 24 hours. The estimated 24-hour trading volume is $144,658.
Solana sheds 5.38% and marches closer to $135.47
Solana has been the newest interest of traders and investors over the last couple of months. Many long-term and short-term investors have their eyes on its performance before investing their confidence in this coin.
Source Trading View
Solana’s price fell suddenly over the past 7 days, and the coin continued to slide down further. The price has fallen further down to $136, with a trading volume of $1.4 billion. The market cap for Solana over the last 24 hours is estimated to be $42.7 billion. The price is predicted to fall even shorter due to the market’s current volatility.
Final Thoughts
The market trend goes high as the investors’ trust and confidence grow; it’s a direct relationship. The crypto market has witnessed a good amount of highs and lows since the start of the year and hasn’t been able to recover itself from the last setbacks yet.
If the situation of inflation, depreciating stock market, and pandemic continues to stay for longer, the market may collapse even lower. The international market has gone through a recession since the beginning of 2022, leading to the failure of crypto coins to gain momentum.
If the situation gets any better, Bitcoin, Ethereum followed by all other top and emerging coins will witness a significant comeback, and the market will come to life again.
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