A fiery red day for altcoins, but this crypto is still rising fast

It’s a bad start to the week for many crypto investors. Last night the entire crypto market actually fell sharply. Bitcoin fell at least 6.5%, but altcoins like Cardano (ADA) and Solana (SOL) were briefly down more than 10%. Fortunately, this significant decline recovered and stabilized somewhat throughout the day. Nevertheless, the market is still bright red today.

🚀 Free Crypto: Dutch Broker Makes Crypto Insiders Readers SHIB Millionaires Today; Get your free 1,500,000 SHIB

  • Advertising

  • Anycoin Direct

View of the market

The total market capitalization of the entire crypto market fell by 3.36% to $1.58 trillion in the last 24 hours. The trading volume initially rose to $74.66 billion. According to CoinMarketCap, this represents a significant increase of 46% compared to the previous day.

The king of cryptocurrencies is priced at $42,250 at the time of writing. This is a 5.14% increase from the low of $40,200 on ByBit hit around 2am last night. This means that around half of the relatively strong slump has already been made up. Bitcoin dominance, the share of the overall market held by BTC, has remained roughly the same, down 0.16%

Due to BTC’s sharp downward move, altcoins also fell. And these were actually almost exclusively large and small coins. But a significant portion of the altcoins have also recovered from the sharp decline.

At the same time, the mood seems to have been hardly affected. According to the Bitcoin Fear & Greed Index, investors and traders remain very optimistic about possible further increases. After all, a correction after a sharp rise like we saw recently is not uncommon.

The Toughest Crypto Climbers

Nevertheless, it remains a red day in crypto land. If we look at the altcoins, almost every altcoin is still in the red this afternoon, some even in double digits. However, there are some exceptions to note. Leading the way among the fastest risers today is Injective (INJ) with an increase of no less than 21.7%. Injective even set an annual record with this increase. Impressive when you consider the current state of the crypto market.

In second place is Synthetix (SNX) with a price increase of almost 13% and in third place we see Immutable (IMX) with an increase of 11%. There are certainly no truly extraordinary increases anymore today.

The Hardest Crypto Opponents

The strongest objectors today actually see no real outliers. The overwhelming majority of the altcoin market is in the red today, but the damage is actually not all that great. For example, FTX Token (FTT) is leading today with a drop of exactly 10% and is the biggest loser. In second place we see The Sandbox (SAND), which is down 9.46% and we close with Decentraland (MANA); decreased by 9.25%

Bitvavo is giving away 20 euros of free crypto

Are you looking for a reliable partner for buying cryptocurrencies like Bitcoin or Ethereum (ETH)? In collaboration with Crypto Insiders, Dutch trading platform Bitvavo is giving away 20 euros free this month only to new users who deposit at least 10 euros on the platform. Create an account with Bitvavo using this link and get 20 euros free and trade the first 10,000 euros without any transaction costs.

Post views: 3,078

Read Also:  Google is Again Postponing the End of Third-Party Cookies to 2025

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here