Bitcoin, Ethereum, Near Protocol, Bittorrent Token Daily Price Analysis – 8 December Roundup | Cryptopolitan

TL; DR Breakdown

The cryptocurrency market has always held a rocking position in evaluating different currencies and tokens. The large price fluctuation of various digital tokens shows the volatile nature of the industry. However, the cryptocurrency market is unique and attracts more and more potential investors to the industry. The profit potential of this form of market is exceptionally high. Therefore, people are willing to join despite the element of risk.

The market comprises thousands of tokens traded on hundreds of cryptocurrency exchanges around the world. The overall market capitalization of the crypto sector has seen a significant increase over the last year. At one point, the total capitalization even crossed the $ 3 trillion mark and consolidated in the recent drop. In the last 24 hours, the overall market capitalization has increased by more than 1% to an inch closer to $ 2.40 trillion.

The cryptocurrency market continues to be affected by various external factors. All of these elements influence the market, be it global economic policies or regulatory rules against cryptocurrencies, growing institutional interest, or concerns about the sustainability of cryptocurrencies.

BTC retests $ 50K in a high potential market

Bitcoin It is the standard-bearer of the cryptocurrency market, and its performance is of immense importance to the rest of the sector. Many currencies tend to follow the price trajectory of Bitcoin and many investors look at the performance of Bitcoin to establish entry or exit points from the market for themselves. But nevertheless, Bitcoin was hit by volatility as it fell back into the $ 40K range, but managed to earn enough to break above the crucial $ 50K level.

BTC is currently trading around the $ 49,700 mark. Over the past day, Crypto King consolidated at around $ 48K, but it still managed to rally a bit and stay above $ 50,000. He's struggling to keep up after making a Dec. 9 entry with $ 50K. The leading crypto currency has lost around 12% in the last seven days. Its market cap has also lost some value and is currently $ 953B.

Bitcoin's 24-hour trading volume is $ 28.4B. Bitcoin has shown positive intention, but has yet to form a clear and more decisive pattern. Therefore, the next few hours of trading can be critical to the performance of the coin.

Fountain: TradingView

ETH Gains As Altcoin Market Turns Green

Ethereum is the second largest cryptocurrency token and the leader altcoin. He has continued his fight with Bitcoin, which has been healthy. After the recent crash, ETH has overtaken Bitcoin, its best performance in over three years against BTC.

At the time of writing, Ethereum It is valued at about $ 4,400, increasing almost 3% in the last 24 hours. ETH's market capitalization is over $ 526 billion, and its trading volume has surpassed $ 18.80B. With gradual and steady growth in the last few hours of trading, Ethereum seems confident to rack up more profits and challenge soon. its all-time high.

Fountain: TradingView

The Binance Coin (BNB) also followed the same path as ETH. The popular coin gained around 6.30% to touch $ 610. The coin crashed in recent days, but has managed to reduce its negative 7-day price change to just 2.80% now. The coin has also made significant improvements to its market capitalization, which has now surpassed $ 102M at over 166.80 million. BNB coins in circulation, the token has a 24-hour trading volume of $ 2.34 B.

CLOSE to leading with a 25% advance

Despite the altcoin market posting a few green candles over the last 24 hours, the Near Protocol (NEAR) has performed prominently. The coin made a staggering 25% gain to pass $ 9.50 as its 7-day price change is now positive at 13.70% as well. Over 571 million NEAR coins have been very successful in the market as their market capitalization, and the trading volume has also remained on the positive side.

Fountain: TradingView

This strong price movement from NEAR will give much needed rest and relief to its investors and holders. However, some popular tokens such as AXS and UNI followed the list of winners. After the big losses of the last few days, AXS found some relief with a 7.50% increase in value. The coin is now valued at over $ 113.60. On the other hand, UNI It also accumulated 6.50% in its price, reaching $ 18.40 in valuation.

Wave XRP and Terra LUNA were two other notable coins featured in the winners column, both reaching over 6% in the last day. The former is now valued at over $ 0.86 and the latter at just under $ 74. Most of these coins shed a large chunk of their value in last week's drop. Therefore, this rising price can be a great relief to them in the long run.

BTT and FIL cling to the tail of the market

Only a few coins posted red candles in the past 24 hours. Although most of them remained green, they were only recovering from the double-digit percentage losses of the last week. BitTorrentToken (BTT), a shitty coin (created without a clear or useful purpose), was at the top of the losers list. The coin unexpectedly remained bullish during the market crash. Thus, it has now consolidated by shedding 11% of its profits. BTT was still 17% higher than its price at the same time last week. BTT is now valued at around $ 0.00355.

Fountain: TradingView

On the other hand, Filecoin has continued its downtrend. In addition, it has registered a loss of 4.75%. This loss means that the coin has lost almost 25% in the last seven days or so. The coin is now retesting the $ 40 support, but it lacks momentum and investor support. The currency's market capitalization was also down to $ 5.51M, with its trading volume down to $ 859M. Other losers in the market included CRO, HNT and BSV.

conclusion

The general cryptocurrency market appears to be rebounding from the recent price analysis. Various altcoins are growing in value, market capitalization, and trading volumes. However, the party may be spoiled by the indecisive market leader, Bitcoin. It has yet to form a clear pattern and lacks momentum that could further decrease its value.

BTC must maintain a solid position that provides stability to the market. Only then will the investment sector inject more funds into the industry. Ethereum, on the other hand, has proven to be a major force and could continue its boom in the coming days. This increase will help other altcoins to grow and maintain their positions.

In my viewer there are opportunities that can change the world. The person who jumps at the perfect time could save himself and together with him, heal the world from divisiveness and unbridled greed. There has to be a turning point, and crypto could hold the key, when placed in the right hands.

We need a cross-party agreement on the future of finance, not narrow partisanship. Stay tuned in the next few weeks for the first steps!

- Senator Cynthia Lummis (@SenLummis) August 11, 2021