- The global crypto market cap sees a 3.44% increase over the last day.
- Bitcoin forces itself through the gaps of $47,500.
- Ethereum continues to linger at around $3,975.
- Solana (SOL) sees a 5.57% gain in the last day while Cardano raises itself to $1.29.
- Decred dominates the gainers’ list with 16.94% gains.
The global crypto market has not seen a good enough bullish run over fourteen days. The woes of the top cryptocurrencies are not yet over; however, they are managing with their small, insufficient influxes. The crypto market keeps dropping trillions of dollars but seems to have trouble regaining those trillions in every bullish run. It has become difficult to believe that the global crypto market cap was set to accomplish $3T.
As per the new usual, the global market has seen no sightly influxes except for a measly 3.44% increase that has allowed it to rise to $2,220,218,050,654. However, it seems to be going up at no more than a snail’s pace as the global trading volume suffers a loss of 25.96%. If there were ever a great need for a bullish run, it would be now as our top cryptocurrencies suffer far below their initial standards. The past month’s bearish run seems to have flipped the crypto market on its back, where the market is finding it difficult to get back up. However, even tortoises can eventually recover lost balance, so too can the crypto market.
Bitcoin and Ethereum lower their standards
The initial highs of Bitcoin and Ethereum would’ve scoffed at their prices now. Having reached $67k at one blissful moment, Bitcoin seems to disappoint investors more and more with strong bearish runs and weak bullish runs. It seems unable to pick itself back up as easily as it used to and seems to be suffering the fate of the bearish runs, having dropped more than $20k value in a single month.
The same can be said for Ethereum; however, as its price is lower than Bitcoin’s, it has not seen thousands of dollars of value effluxes. As of right now, Bitcoin trades at $47,555 after seeing a 3.63% price influx over the last day. Although it’s suffering in the bearish market right now, its market cap is still worth billions, equating to $905,534,217,452, which is a considerable upheaval since this morning. Bitcoin’s trading volume suffers as people grow accustomed and used to the low prices, dropping 23.62% to a value of $26,008,627,854.
As for Ethereum, the top altcoin seems to be suffering almost as much as Bitcoin, but not on the same level. Since this morning, it has seen no price increases and continues to stoop around $3,975. After a 4.90% markup, its market cap rests at $476,146,611,419, while its trading volume suffers the same fate as Bitcoin, dropping 23.84% in twenty-four hours down to $18,828,360,309.
Solana and Cardano make small but significant gains
Given the low overall prices of one of two major altcoins, Solana and Cardano seem to be holding their own in the bearish market. Their prices are not too significant, but it makes it all the more difficult to move up the price markup as they usually lag compared to the $4,000 price of ETH and $47,000 price of Bitcoin. However, the crypto market’s attempts to regain its composure are not unnoticed, as Solana displays the only green chart.
After seeing a 5.78% gain, Solana currently trades at $184.63. Similarly, its market cap has seen an equivalent influx of 5.43%, raising $56,767,807,531. Solana’s trading volume suffers a 39.96% loss as most of the top coins. As for Cardano, the #6th coin currently trades at $1.29 after seeing a 5.02% influx. Following hot on Solana’s heels, Cardano’s market cap has risen by the same margin of 5.02% up to $44,053,377,211. Given the lower prices of these two major coins, every value influx is significant enough to turn the tide back around.
After almost a month of seeing red charts, we are skeptical this green glow over the crypto market will last long. Over and over, investors have been getting duped by short-term bullish runs, hoping that the prices will increase soon, but they continue to fall after a small step forward. We assume now is no different, considering how much the crypto market is letting the bearish run overrule the top cryptocurrencies. We can only hope that the next bullish runs carry over to the new year.