logo
  

Cryptos Diverge From Stock Market Trends To Trade In Red Zone

crypto april22 27jun22 lt

Cryptocurrencies declined early on Monday, with market capitalization falling more than 2.3 percent to $952 billion. A retreating Dollar and positive sentiments in the equity market barometers worldwide failed to enthuse the investor sentiment at the digital assets market.

Bitcoin is trading at $21,254.19, down 0.66 percent on an overnight basis. It has gained 3.7 percent in the past week, but has shed 56 percent in 2022.

Market dominance of the flagship digital asset stood at 42.5 percent. BTC touched a high of $21,486.47 and low of $20,965.11 in the past 24 hours. 50 percent of BTC holders are in the money at current prices.

On-chain analytics by glassnode alerts shows the BTC balance at Exchanges at a 3-year low of 2.4 million, implying low liquidity available in the market and prospect of higher price volatility.

Ethereum is trading at $1,217.05, having lost more than 1.7 percent in the past 24 hours. Ether recorded weekly gains of 7.9 percent and year-to-date losses of 68 percent.

Ether currently dominates 15.5 percent of the overall crypto market. ETH traded between $1,247.11 and $1,199.41 in the past 24 hours. 51 percent of the Ethereum holders are in the money at current prices.

Stablecoins currently dominate 16.24 percent of the overall crypto market. Tether (USDT) leads with a dominance of 7 percent, followed by USDCoin (USDC) with a dominance of 5.9 percent, and BinanceUSD (BUSD) with a share of 1.8 percent of the overall crypto market.

From among the top 100 cryptocurrencies, only UNUS SED LEO (LEO) ranked 16th overall has made gains on a year-to-date basis. LEO has rallied 56 percent in 2022.

However, on a weekly basis, most of the top 100 cryptocurrencies have recorded gains. Only 23rd ranked Chainlink (LINK), 30th ranked Bitcoin Cash (BCH), 42nd ranked Helium (HNT), 45th ranked Bitcoin SV (BSV), 49th ranked ZCash (XEC), 87th ranked 1inchNetwork (1INCH), 91st ranked XDC network (XDC), 97th ranked Kadena (KDA) and 99th ranked Synthetic (SNX) have made losses of more than 1 percent.

10th ranked Dogecoin (DOGE), 13th ranked TRON (TRX), 16th ranked UNUS SED LEO (LEO), 26th ranked Cosmos (ATOM), 29th ranked Ethereum Classic (ETC), 38th ranked Tezos (XTZ), 62nd ranked USDD (USDD), 66th ranked Stacks (STX), 67th ranked Chiliz (CHZ) and 74th ranked Enjin Coin (ENJ) have gained more than 1 percent in the past 24 hours.

78th ranked TerraClassic USD(USTC) gained more than 274 percent in the past 24 hours and 418 percent in the past week. USTC has re-entered the top 100 category with the surge.

For comments and feedback contact: editorial@rttnews.com

Follow RTT