The crypto market prepared for volatility after the FOMC meeting yesterday, but it remained remarkably calm. Although the majority of the top 100 turns green, this is only a few percent for most rates. There are, of course, some exceptions, as a result of which the total market capitalization of crypto rises by 1.5% to $1.245 trillion.
⚡ Market Overview#Bitcoin price trades above $29K
The Top-10 are traded in green zone: $ADA +2.04%, $ETH +1.74%, $BTC +1.63%.
Market cap: $1.3T (+1.51%)#BTC dominance: 43.36% (+0.35%)
Fear & Greed Index: 64 (Greed)Full Report 👉https://t.co/pU0C2u8vDT pic.twitter.com/gCKRkx3bht
— CryptoRank Platform (@CryptoRank_io) May 4, 2023
Bitcoin back above $29,000
Bitcoin (BTC) made a short swing after the US Federal Reserve interest rate decision and then recovered back above USD 29,000. For the time being, bitcoin manages to hold its own above this and, with a price of $29,090, is currently up 1.5% today. Meanwhile, the banking crisis seems to be getting worse.
#Bitcoin txn fees have always been healthy and increasing on average over time. With each block subsidy halving, the txn fees naturally account for a larger percentage of the block reward. Within a couple of decades, the txn fees will regularly account for the majority of it. pic.twitter.com/F3ZFClGXC5
— Wicked (@w_s_bitcoin) May 3, 2023
Ethereum back above USD 1,900
Ethereum (ETH) recovered a little stronger this time, recaptured $1,900 last night and is holding just above it for the time being. With a price of $1,902, ETH is up 1.8% today. However, cryptoquant analyst Mac D warns that the ether market is overheating, characterized by a large number of failed trades, and that could lead to a price correction. The analysts of Crypto Insiders also warn about this.
excessive $ETH transaction failures, markets overheated
“When the number of transactions increases, the network overheats and competes to pay higher gas fees to complete transactions.”
by @MAC_D46035— CryptoQuant.com (@cryptoquant_com) May 4, 2023
Cardano fastest climber in crypto top 10 today
The rest of the top 10 also turns a cautious green. However, Ripple (XRP) made a sharp drop before the increase, so that it is only 0.1% up at $0.46 today. Binance (BNB) is holding above USD 326 for now and is up 1.1%. For polkadot (DOT) that is the $ 5.75 with which the price is also 1.1% in the plus. Dogecoin (DOGE) briefly peaked above $0.08 last night, but is now falling to $0.0792, putting the price up 1.2%.
Polygon (MATIC) is currently struggling to hold on to $1, but is already up 1.5%. Solana (SOL) may be losing traction at $22.3 right now but is still up 1.7%. Cardano (ADA) rose the most in the past 24 among the top 10 largest cryptocurrencies. The ADA price is currently seeking grip at $0.392 and is therefore up 2%.
Calling the @Cardano community!
Should we integrate $ADA as a payment method for the ongoing #LMWR public sale?
300 Retweets and $ADA will be live on our platform tomorrow. pic.twitter.com/x6ZlDFhKe4
— LimeWire (@limewire) May 3, 2023
Sui hardest faller crypto top 100
We don’t have many rates in the red today and for most currencies it’s less than 2%. However, Stacks (STX) is already down 3.1% to $0.78 and radix (RDX) even loses 7.7% of its value to $0.085.
Then we have sui (SUI), a new altcoin that made its debut on the major exchanges yesterday. After listing, however, the price fell by 70% and has not yet recovered from this. Still, SUI ranks in the top 100 at position 67 with a market cap of $733 billion.
The Google search volume of the #SuiNetwork reaches ATH recently.
Will the Mainnet event tomorrow trigger an explosion of the Sui Ecosystem？ pic.twitter.com/hX9lrWrYwa
— Coin98 Analytics (@Coin98Analytics) May 2, 2023
Pepe hardest climber crypto top 100
On the green side of the top 100 today we find curve (CRV), internet computer (ICP), render (RNDR) and flow (FLOW) up about 5%. Fantom (FTM) and rocket pool (RPL) are already up more than 7%. Kaspa (KAS) is up almost 12% and rising to $0.0295. Woo network (WOO) is even up 12.2% and rises to $0.293. With that, WOO just enters the top 100 again.
Holding support like a champ, follow through and we are going to my target finally at 0.39c pic.twitter.com/sLM2spN9qa
— Crypto Tony (@CryptoTony__) May 4, 2023
Finally, we again have Pepe (PEPE), the new infamous memecoin, as the fastest riser from the top 100. The PEPE price rises by 25.5% to $0.00000127 and is now almost 480% up compared to a week ago .
A heavy build-up of Open Interest at $PEPE pic.twitter.com/sd1HdTTGvI
— Maartunn (@JA_Maartun) May 3, 2023
Are you looking for more insight into crypto prices or help with trading?
In the premium environment of Crypto Insiders you will find a vibrant and friendly community of over 1,000 members helping each other to trade. Also, our analysts share more than 20 technical analyzes here every week exclusively for premium members. View our Premium page for more information and try the first 30 days for free.
Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences.