Today’s crypto movers: Bitcoin (↓3.30%), Ethereum (↓4.09%), ApeCoin (↓7.16%) and NEAR (↑9.68%)
The overall crypto market is down 3.48% in the past 24 hours. NEAR Protocol dominated the top 250 cryptocurrencies.
The crypto market continued its drop as Bitcoin failed to hold two of its major support zones: $37,500 and $35,000. Fed’s hawkish monetary policy still weighs heavily on riskier assets.
Overall, the crypto market saw prices change by -3.48%, which was a bigger loss than the previous two days.
Trading volume over the last 24 hours was 9% higher than the recent seven-day average, meaning forced liquidation on leveraged long positions still occurs as the price of Bitcoin goes lower.
Price volatility was 0.84%, which shows relatively straightforward price movements.
The two biggest coins: Bitcoin and Ethereum
Bitcoin (BTC) is the biggest coin by market cap and its price changed by -3.30%. Bitcoin now represents 41.42% of the overall market cap of the 250 biggest coins.
Bitcoin failed to hold $37,500 and $35,000, both major support zones where buyers typically outweigh sellers. The next support zone lies at $30,000. A break below this number opens the way to $20,000. To see further gains, BTC needs to reclaim $35,000 first and hold above it.
The second most valuable crypto, Ethereum (ETH), saw its price change by -4.09%. Ethereum’s market cap is 46.66% of Bitcoin’s value.
Ether broke its own support zone of $2,500. If it fails to recover and hold above this price, we may see $2,000 in the weeks to come.
Today’s biggest gainers and losers
The coin with the biggest percentage gain (out of the top 250) was NEAR Protocol. Its 24 hour increase was 9.68%. The increase means near is now the 19th biggest coin with a market cap of US $7.79 billion.
Near Protocol (NEAR) is a layer-1 blockchain designed as a community-run cloud computing platform. It reduces limitations such as slow transaction speeds, low throughput and poor interoperability. The price climb follows last week’s Curve Finance integration with NEAR’s Aurora network.
The biggest loser in the 200 biggest coins was ApeCoin (APE). Its drop over the last day was 7.16%. After the fall, APE is now the 33rd biggest coin with a market cap of US $3.1 billion.
ApeCoin (APE) is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC). The token facilitates the APE Foundation’s APE Ecosystem. The recent loss continues last week’s decline and has no connection to any noteworthy news.
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