Trading Volumes In Crypto Market Fall Sharply; Bitcoin Beyond 20k, ApeCoin Top Performer

Oleh Zombo September 26, 2022 Posting Komentar

Investor Attention In Cryptocurrency Markets Sciencedirect

The cryptocurrency market passed the trillion dollar mark due to sharp drop in trading volume and suppression of hype around Ethereum Merge Upgrade and Terra on mining program tax. As of Sunday, the global cryptocurrency market had a capitalization of approximately $975 billion and the trading volume for the day was over 26%. Bitcoin is trading above $20,000 while Ethereum is trading just above $1,450. The cryptocurrency ApeCoin showed the best results in 24 hours.

On CoinMarketCap, the global cryptocurrency market cap is trading at $974.89 billion at the time of writing, up $1.26 from the previous day. However, the total size of the crypto market reached $47.15 billion, down 26.12% in the last 24 hours.

Meanwhile, DeFi currently stands at $3.77 billion - 8% of the total 24-hour crypto market size. All stablecoins are now worth $42.91 billion in volume, which is 91.02% of the total 24-hour crypto market volume.

Bitcoin rose more than 1% in 24 hours. The largest cryptocurrency trades above $20,050. The crypto market cap is approximately $384.61 billion.

Ethereum is up nearly 2% in 24 hours, trading around $1,455. Cryptocurrency market capitalization exceeds $178.5 billion.

Among the top 10 cryptocurrencies, XRP is more than 6% and Solana is more than 3%. Meanwhile, Cardano and Dogecoin prices rose around 2%. Other cryptocurrencies such as Tether, USD Coin, BNB and Binance USD have shown minor movements in the past 24 hours.

Bitcoin is currently the largest cryptocurrency while Ethereum is the second largest on the market. Bitcoin currently dominates at 39.44%.

ApeCoin is the best on the market with a growth of around 18% and is trading around $5.60. Including ApeCoin and other cryptocurrencies such as Celsius, Lido Dao, XRP and Chiliz, they achieved the top 5 growth with a price increase of 5% to 18%.

However, over the past seven days, Bitcoin has fallen by more than 7% and Ethereum by more than 17%. BNB, Cardano, Solana and DogeCoin are down 2-5%. ApeCoin rose about 10%.

The most anticipated Ethereum merger happened last week. The merger completes Ethereum's transition to proof-of-stake consensus, which formally eliminates proof-of-work and reduces power consumption by 99.95%.

"Now that the consolidation has been completed (with great success), we have had no positive catalysts in the short term and are facing a wall of bearish macroeconomic sentiment," said Henry Elder, Wave Financial's Head of Decentralized Finance . by Bloomberg.