The crypto market fluctuated yesterday due to new inflation figures and a false alarm. Nevertheless, many prices recovered fairly quickly to about the same price, which may make the market look a bit dull. The recent hype about memecoins seemed to cool down for a while, so we see many of these coins falling the hardest. Yet another new memecoin is attracting attention and quite a bit. However, the total market capitalization is down 0.5% to $1.179 trillion.
⚡ Market Overview #BTС price trades below $28K
The Top-10 are traded in different directions: $ADA +0.7%, $DOGE -0.72%, $ETH -0.46%
Market cap: $1.24T (-0.23%) $BTC dominance: 43.16% (-0.07%)
Fear & Greed Index: 52 (Neutral)Full Report 👉https://t.co/redleQyYKO pic.twitter.com/Wow3XTQgZk
— CryptoRank Platform (@CryptoRank_io) May 11, 2023
Bitcoin back around $27,400
Bitcoin (BTC) shot above $28,000 yesterday, immediately after the release of the US inflation figures, but then fell even faster due to fake news. Subsequently, BTC was able to recover to USD 27,500 but is falling to USD 27,400 at time of writing as sentiment turns more negative and analysts expect a further decline.
You may have noticed some weakness in the market lately, with altcoins in particular taking a hit (excluding memecoins). However, as Bitcoin remains the determining factor for most assets, let’s take a closer look at the on-chain situation for #BTC .
In the image below, you can… pic.twitter.com/hAatBo6XXf
— IntoTheBlock (@intotheblock) May 10, 2023
Ethereum back around $1,820
Ethereum (ETH) first rose to $1,890 yesterday, then plunged to $1,790, then recovered to $1,840, but is falling again this morning to $1,820. This means that the ETH price is 1% down today. In the meantime, it is clear that there was no major outflow after the last major update, even more ETH is now being staked than before.
Staked ETH reached an all-time high 2 days ago
Higher than pre-Shapella amounts, up only from now
Fascinating report from @nansen_ai 👇https://t.co/DqPpJHtleW pic.twitter.com/7sjfbTu222
— Nathan Sexer | nethan.eth (@NathanSexer) May 10, 2023
Polkadot fastest riser in distributed crypto top 10
The rest of the top 10 is somewhat divided today. Dogecoin (DOGE) is the loser out of the top 10, falling 1.4% below USD 0.072. Polygon (MATIC) is down 1% below USD 0.86. Ripple (XRP) is back around $0.423 and is down 0.7%. Solana (SOL) is at $20.5 at the same price as 24 hours ago.
Binance (BNB) is up just 0.2% today at $311.6. Cardano (ADA) is currently falling, but is still up 0.5% at $0.36. Polkadot (DOT) is today the winner of the 10 largest crypto (excluding stablecoins), rising 1.3% to $5.4.
New milestone unlocked: @Polkadot nomination pools have surpassed 4 million DOT in total stake with 10,000+ members and 122 total pools🎆
Be a part today and earn your staking rewards with as low as 1 DOT👉https://t.co/QKZSZVbXSe pic.twitter.com/kPwM9UgOZ6
— Dotinsights (@dotinsights_xyz) May 10, 2023
Pepe again hardest descender crypto top 100
Earlier this week, the price of so-called hard forks of bitcoin sharply up due to the rising costs on Bitcoin. However, bitcoin cash (BCH) is down 5% today and is down to $114. Bitcoin sv (BSV) even drops almost 9% to $35.7.
radix (RDX) also takes a big hit, falling 6.5% to $0.071. However, it is once again the pepe (PEPE) memecoin that is falling the hardest. With a price of $0.0000016, PEPE is down more than 16% today.
Closed below the highest volume candle on the chart.
Could nuke. pic.twitter.com/WCSiUeztKX
— Nebraskangooner (@Nebraskangooner) May 11, 2023
UNI, KAVA, ATOM hardest climbers crypto top 100
Yet in the top 100 we have a handful of races that turn green. For example, uniswap (UNI) is up 3.5% to $5.14.
Individual Users on @uniswap are hitting levels not seen since May of 2021. pic.twitter.com/fKgpVinBKv
— Delphi Digital (@Delphi_Digital) May 9, 2023
Kava (KAVA) re-enters the top 100 after rising 4.5% to $0.877. I think that has to do with the next big update.
Only 1 week until #KAVA 13 mainnet launch 🚀 #EVM #Cosmos pic.twitter.com/eASPUSC5j9
— Kava (@KAVA_CHAIN) May 10, 2023
Cosmos (ATOM) is today the big winner from the top 100. The ATOM price has held up better than the rest in recent hours and with a price of $10.9 today is almost 6% up. This may have to do with the launch of Neutron.
Neutron is producing blocks 💥
We have the first chain to adopt Cosmos Hub Replicated Security!
It’s an historic moment, that marks the dawn of the Atom Economic Zone: #AEZ
An ATOM-aligned ecosystem emerges.
Welcome home @Neutron_org ⚛️ pic.twitter.com/DNH9DL7q60
— Cosmos Hub ⚛️ (@cosmoshub) May 11, 2023
Mylady memecoin rises 10,000%
Yet outside the top 100 we have a very striking climber. The recent memecoin hype seems to be shifting to the milady meme coin (LADYS) and even billionaire Elon Musk is tweeting about it. The LADYS price is up an unprecedented 10,500% in just 24 hours. However, there are many red flags surrounding the project on chain detective ZachXBT.
Do you need any more proof it’s a scam? pic.twitter.com/DBY7IdxuLd
— ZachXBT (@zachxbt) May 10, 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.