Today’s crypto movers: Bitcoin (↓0.10%), Ethereum (↓1.25%), Polygon (↓6.86%) and Arweave (↑10.03%)

Posted: 4 July 2022 4:47 am
Arweave (AR)

The crypto market traded flat with Bitcoin holding at $19,000.

The crypto market traded sideways as no catalyst pushed the price during the weekend.

The overall crypto market saw prices change by -0.32% in the last 24 hours, which shows market indecisiveness.

Trading volume over the last 24 hours was 10% lower than the recent 7-day average, meaning traders and investors wait for the next catalyst before they jump back in.

Price volatility was 1.13%, which shows minimal price fluctuation.

The two biggest coins: Bitcoin and Ethereum

Bitcoin is the biggest coin by market cap and its price changed by -0.10% over the last 24 hours.

Bitcoin dropped below $20,000 within the past few days and managed to hold $19,000 for now. This opens the way for an attempt to move back over $20,000 in the days to come. Depending on market conditions though, $17,500 is another realistic target.

The second most valuable crypto, Ethereum, saw its price change by -1.25%. Ethereum’s market cap is 36.49% of Bitcoin’s total value.

Ether successfully holds above $1,000 for now, which is a major support price. This means we could see the price get back to $1,200 soon.

Today’s biggest gainers and losers

Big gains happened for Arweave (AR) up 10.03%; THORChain (RUNE), which rose 8.73%; and BitTorrent-New (BTT) which was up 3.37%. (All figures are based on the last 24 hours of trading at time of writing.)

Arweave (AR) is a decentralized storage network that offers a platform for indefinite data storage. It uses its native AR cryptocurrency to pay miners to store the network’s information.

The recent gain could be due to the rollout of Arweave’s new Name System (ArNS) test domains.

THORChain (RUNE) is a decentralized liquidity protocol allowing users to exchange cryptocurrency assets across networks while keeping full custody of their assets. It uses the RUNE token for the ecosystem’s base currency, platform governance and security.

BitTorrent (BTT) is a peer-to-peer (P2P) file-sharing platform released in 2001. TRON (TRX), a blockchain platform, purchased BTT in 2018. BitTorrent uses the BTT token to compensate providers and purchase resources such as bandwidth and storage.

The largest drops were for Polygon (MATIC), down 6.86%; Basic Attention Token (BAT), which fell 3.86%; and ApeCoin (APE), which was down 3.45%.

Polygon (MATIC) is a Coinbase- and Binance-backed layer-2 (L2) Ethereum-scaling solution that developers use to create scaling chains. It uses its MATIC token for governance, security, payment settlement and fees.

Basic Attention Token (BAT) is a blockchain digital advertising platform on the Brave browser. It rewards users for watching ads and gives advertisers a better return. It uses its BAT token as a unit of exchange in its advertising ecosystem.

ApeCoin (APE) is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC). The token facilitates the APE Foundation’s APE ecosystem.

Trying to get a handle on the markets? Explore strategies for how to trade crypto or see if there's a better platform for you with our guide to the best crypto exchanges.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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