Bitcoin (BTC) is currently on the rise and many altcoins are also seeing a revival. A number of cryptocurrencies are even making big leaps, but can they keep it up this week? A number of cryptos have already encountered resistance this morning and are correcting. The total market capitalization nevertheless increased by 5.2% to $1.33 trillion.
📈Market Overview#BTC price trades above $30K
The Top 10 are traded in the green zone $ADA +12.8%, $SOL +10.2%, $BNB+6.4%
Market cap: $1.33T (+5.35%) $BTC dominance: 43.37% (-0.10%)
Fear & Greed Index: 10 (Extreme Fear)Full Report👉https://t.co/yCOCiZAsma pic.twitter.com/xL6JM3zg5X
— CryptoRank Platform (@CryptoRank_io) May 30, 2022
Ethereum up 7%
Ethereum (ETH) dips all the way to a just before the weekend low from $1,720. Yesterday the ether recaptured $1,800 and last night the price started to rise sharply. ETH encountered some resistance around $1,880 but broke through it this morning. At the time of writing, ETH may even break the $1,900 rate as much as 7% in the plus state today.
My base case for the Merge is the same as for Bitcoin halvings:
1. The news will be sold or ignored
2. The structural tectonic shift will manifest itself later
3. The magnitude and timing of the change will catch most people by surprise
4. Trend following will be spectacular— Lex Moskovsky 🐙 (@mskvsk) May 30, 2022
TRX, DOGE, XRP in the plus
Tron (TRX), the only altcoin to turn green last week, is lagging slightly today. TRX first plunged lower last night and is struggling this morning at $0.83. Still, TRX is up 2.7% today. Dogecoin (DOGE) has already risen faster and is up 4%, but failed to break through $0.087 this morning. Ripple (XRP) was rejected at USD 0.4 this morning, but we may see a retest soon. XRP is up 4.1%.
BNB, DOT, AVAX, SOL rise sharply
Binance coin (BNB) is currently battling with $320 and is up 5.7%. Polkadot (DOT) broke through $10 again last night, but it got a little too much this morning around $10.6. Nevertheless, DOT is already 8.6% in the plus. Avalanche (AVAX) has yet to break through $28, but is still up 9% today. Solana (SOL) is even up 9.5%, but the USD 47 may have flipped from support to resistance.
SHIB and ADA rise fastest
Shiba inu (SHIB) briefly peaked above $0.000012 this morning, but is now falling slightly below. Nevertheless, SHIB is today no less than 11.2% in the green. Cardano (ADA) is today the winner among the largest crypto and is currently romping with $0.52, with the price even up 12.2%.
Crypto top 100 hardest risers
Furthermore, kucoin token (KCS), kusama (KSM), cosmos (ATOM) and tezos (XTZ) are about 10% in the plus today. For harmony (ONE), zcash (ZEC), monero (XMR), fantom (FTM), chainlink (LINK) and graph (GRT) that is 11%. Axie infinity (AXS), maker (MKR), neo (NEO), theta fuel (TFUEL), raceway (LRC), algorand (ALGO) and uniswap (UNI) are even up 12% today.
Stellar (XLM), stepn (GMT), decentraland (MANA), gala (GALA) and near (NEAR) were up 13% in the past 24 hours. Apecoin (APE), evmos (EVMOS) and theta (THETA) were up 14%. Synthetix (SNX) and arweave (AR) are already up 17%. Thorchain (RUNE) is up 18%, elrond (EGLD) 19%, helium (HNT) 20% and waves (WAVES) no less than 29%.
Luna Classic goes like a rocket
The new terra (LUNA) token was immediately dumped on Saturday bringing the price close to 70% below its top and hovering around $6 for the past 24 hours. The old token, terra luna classic (LUNC), on the other hand, rose by as much as 84% in the past 24 hours, although the price is now starting to fall.
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30 May 2022$LUNC $EVMOS $GMT $BEL $SOL $BNB $FTM $ATOM $MATIC $SHIB pic.twitter.com/7ZVSD6fRrM— 🇺🇦 CryptoDep #StandWithUkraine 🇺🇦 (@Crypto_Dep) May 30, 2022