Today’s market session is another pleasant one, with the global market cap recording an increase of close to 1% within a day of trading, taking it to $1.21T. As the global market cap continues to rise, the crypto king has also continued its recovery run, recording increases for the second day. Trading at $29.5K as of press time, the asset has recorded an increase of over 1% within 24 hours.Â
BTC,s weekly gain stood at 4.5% as the trading volume decreased by 32%. Bitcoins volatility is moving steadily as well with the bollinger bands maintaining a close distance as the RSI indicator moves above its average line as it looks to cross the overbought region. This show’s the bullish momentum that the crypto king is consolidating as it now ranks as the most trending coin on CoinMarketCap.
Ethereum, after getting back to the $1.9K level, seems to be facing resistance at $2K as the asset records a mild increase of 0.14% within 24 hours ahead of a weekly drop-in valuation of 1%. ETH’s trading volume dropped by 39% as activity on the network reduced, with the market cap as well recording an increase of less than 0.5%.
Altcoin analysis
Altcoin markets are doing relatively well as well, with Ripple recording notable gains. XRP, trading at $0.47$, had increased 3.07% within 24 hours, as the trading volume went down by 36% within the same period.Â
Solana has also recorded gains, sitting on a daily gain of 2% as the asset traded at $22.4 as of press time. Cosmos and Uniswap also recorded gains of more than 1% as other altcoins such as DOT and BNB struggled to record positive gains.Â
Today’s top gainer on the top 100 list stood as Cronos, recording an increase in price valuation of 125 within 24 hours as well as an increase of 18% for the week. CRO’s trading volume has surged by close to 7% within the same period as activity on Cronos network increased.
Another notable gainer today is CryptoAI, recording an increase of 12% as well within 24 hours, while sitting on a weekly gain of over 30%. CAI’s trading volume had surged by 188% within the same period as the token traded at $0.022 at press time according to CoinMarketCap data.
