Markets Show Mild Signs of Recovery as Storj Dominates

By Kester Odero

June 9, 2023 8:16 AM

Altcoins News Crypto Market News

Markets Show Mild Signs of Recovery as Storj Dominates

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Table of contents

1. Altcoin analysis

The global crypto markets have started today with mild gains as the global cap saw a 0.8% gain within a day of trading to take it to $1.1T as of press time. Bitcoin (BTC), has relatively kicked off today’s session with mild gains, recording an increase in valuation of 0.3% to take BTC’s price to $26,490 as of press time, as bulls push to re-claim the $27K mark.

Bitcoin has a current trading volume of $12B, representing a 31% drop within 24 hours as the market cap stood at $514B. Bitcoin’s volatility levels are also rather stable as the Bollinger bands maintain a short distance from each other.

The relative strength indicator is however moving below its average line signaling a possible bearish trend on Bitcoin. The MACD indicator, currently moving close to its average line, has shifted to the negative region showing the effort by bears to control the markets.

MzV qq4X52jD9YpfzZXrp7VeuYZhWo4KfStE66YJFI4M60ADz5ncuOxgKELxwLLHBUGTozrw46Aj6PP5k OLlaUWlQLD7vqBwQaEp hZ1EkmKQeaNOV K5hYFBLO0FTilP7ukzG8G7o2zyeqKX9EdbQ — BTC 1-day chart | Source: TradingView

Altcoin analysis

Ethereum (ETH) is also sitting on mild gains ass of today’s session, as the asset recorded an increase of 0.14% within a day of trading to take its price to $1839 as of press time. Ethereum’s trading volume has however dropped by 35% to take it to $5B as the market cap also currently stands at $221B.

Other altcoins are having a rather fruitful session except for Cardano (ADA), currently ranking as the 4th most trending coin on CoinMarketCap, after seeing a 24-hour drop in the valuation of 1.6%. ADA’s trading volume has dropped by 40% to take it to $239M.

gvXgXay3saswvWJpsupQGCfYQXIotFJPXQx jeOYdQ9YgkUOkPRehFY dOq — ADA 1-day chart | Source: CMC

Ripple (XRP) is, however, doing well, gaining 0.7% while Dogecoin (DOGE), Solana (SOL), Polygon (MATIC), and Tron (TRX) all saw increases of 0.2%, 1.1%, 2.6%, and 1.1% respectively. Litecoin (LTC) has however dropped by 0.18% in today’s session, as the asset now trades at $87.

Storj is however today’s notable gainer as the asset now sits on a 5% gain within a day of trading to take the asset’s price to $0.3161 as the asset ranks as the most trending coin on CoinMarketCap. Storj’s current trading volume stands at 103.80M and the market cap also stood at 126.77M as of press time.

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Another notable gainer for the day is XEN Crypto (XEN), ranking in second trending, after seeing a 5.8% gain within 24 hours of trading to take its price to $0.000002087 and with a trading volume of 9.97M as per CoinMarketCap stats.

Tags:

ADA BTC DOGE ETH LTC MATIC SOL TRX XRP

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AUTHOR

Kester Odero

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.

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