The crypto market seems to be cooling down a bit and catching its breath after last week’s massive gains. Many prices made a small dip yesterday, but a large number are already recovering strongly this morning. The total market capitalization is again around $1.32 trillion.
DAILY CRYPTOMARKET REVIEW$BTC $ETH $XRD $RNDR $ARB $ZIL $FXS $BEL $TOMI $VELO $ID $JOE $CTSI $INJ $LUNC $APT $ACM $BNB $OKB pic.twitter.com/Bg5C45sekJ
— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) April 18, 2023
Bitcoin back below $30,000
Bitcoin (BTC) dipped back below $30,000 yesterday, but is recovering this morning. At the time of writing, the price is meeting some resistance around $29,800 and is down 0.6% today. Nevertheless, market sentiment is becoming increasingly positive.
Is the #Bitcoin bear market over?
With a rally 100% off the lows, $BTC is trading above a very large cluster of supply, that formed the 2022 floor.
This week, we investigate indicators showing if the market making a robust bear market recovery…or not.https://t.co/eeQ1xeE07I pic.twitter.com/PKHJc7EF18
— glassnode (@glassnode) April 17, 2023
Ethereum back at $2,100
Ethereum (ETH) has shown a similar pattern over the past 24 hours. The ETH price dipped to $2,050 last night, but is now back at $2,100, the same price as 24 hours ago.
📈 About 70% or #Ether addresses are in the money, with an average buy-in below the current $2,090 market rate.
Eyes on the $2,365-$2,430 range as per Pedro Negron of @intotheblock. #ETH hit a high of $2,100 last week, the peak since May 2022! 💥 pic.twitter.com/kBTRMJ8CYL
— Satoshi Club (@esatoshiclub) April 17, 2023
Crypto 10 turns red, DOGE hardest faller
The rest of the top 10, however, still turns red. Polygon (MATIC) also recovers, but is still down 0.1% at $1.17. Ripple (XRP) is down 0.2% to $0.514 and so is cardano (ADA) which is at $0.44.
Binance coin (BNB) is down 0.4% today at $434.7. Solana arrives at $25 again and is already 1.2% down. Dogecoin (DOGE) is the biggest loser out of the top 10 today and drops 1.5% to $0.0925.
Algorand drops after SEC indictment
Some altcoins are taking a hit today with a new U.S. Securities and Exchange Commission (SEC) indictment against Bittrex. In the indictment, the SEC names cryptocurrencies such as algorand (ALGO), dash (DASH), monolith (TKN) naga (NGC), real estate protocol (IHT) and OMG network (OMG) as securities, or securities. ALGO’s price therefore drops by 2.8% to $0.222.
Sir? @GaryGensler https://t.co/VJflcdYYYA pic.twitter.com/Zx12Mu2k58
— Will Clemente (@WClementeIII) April 18, 2023
BGB & RPL hardest fallers crypto top 100
Falling even harder today bitget token (BGB) and rocket pool (RPL). BGB is down 7% to $0.418 and RPL is down 7.1% to $55.
Since Shapella, $RPL has dramatically outperformed not only #BTC and #ETH but also its closest rival and market leader of liquid staking protocols: $LDO. RocketPool’s Atlas upgrade will allow for smaller 8 ETH staking nodes, potentially increasing its market share. pic.twitter.com/zALfxXKnww
— Kaiko (@KaikoData) April 17, 2023
ARB & XRD strongest climbers crypto top 100 again
Still, we still have a number of hard risers today, and it is again many DeFi projects on Ethereum. For example, synthetix (SNX), frax share (FXS) and theta network (THETA) are up about 5%. Internet computer (ICP) increases by 5.5%. Zilliqa (ZIL) is already up 6.6% and arbitrum (ARB) is even up 7.3% to $1.76.
To support @Arbitrum‘s mission of scaling the Ethereum network and pushing the boundaries of the Web3 ecosystem, over 100 first-party data feeds are now easily accessible through the API3 market as self-funded dAPIs.https://t.co/1uqUTOCDqL
🧵1/7
— API3 (@API3DAO) April 17, 2023
Radix (XRD) steals the show again in the top 100, rising a whopping 26% to $0.108. The XRD price is even 108% up compared to a week ago.
Babylon upgrade date confirmed: July 31st 2023.
The upgrade from Olympia to Babylon will pave the way for global Web3 & DeFi to finally exit the “tech demo” stage with a mainstream-capable user and developer experience.
Read more: https://t.co/XSRWWoLobE
— Radix – Radically Different DeFi (@radixdlt) April 11, 2023
Watch out for scams about new meme coin
Finally, we have a new one memecoin that seems to attract attention: pepe token (PEPE). These types of tokens are extra volatile and can often fall just as hard as they rose. The hype also seems to be accompanied by new scams, so be careful.
🛑🛑Warning🛑🛑
it has come to my attention that a lot of other tokens are using a spoofing transaction with the pepecex wallet or $pepe deployer to make it look like their tokens are coming from us, and there have been lots of scam tokens.
— Pepe (@pepecoineth) April 17, 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.