- Bitcoin manages to hold back its position
- Ethereum stays under $3000 market value
- Cardano isn’t moved by market stability
- Solana remains under the $100 market value
The market has not moved much today. The overall market cap increased by 0.30% and managed to stay at $1.9 Trillion. The task of predicting the future of crypto assets is not for the faint of heart. This is a difficult task for technology that is always growing and sees hundreds of minor trends every year.
Though it’s feasible that a few things may happen in the cryptosphere this year, an accurate guess isn’t possible. Global cryptocurrency market capitalization reached a record $3 trillion in October 2021, the most it has been in the crypto industry so far. The year 2022 hasn’t been much fruitful up till now.
Bitcoin manages to hold back its position.
Bitcoin has been mostly down for a few weeks now, but it’s not all bad news. At the end of last year, the coin was worth $69,000. However, since then, it has lost a lot of steam. It has lost almost half its value in a week.
Bitcoin has managed to cover the losses of the initial days of 2022, but it has not hit the highest. As if today, Bitcoin is trading at $42,446. The market cap is estimated to be $806 billion.
Ethereum stays under $3000 market value
Ethereum is bearish and has been following in the footsteps of Bitcoin. If we look at the loss over the previous seven days, they total 5.54 percent, which is a significant amount of money given Ethereum‘s standing in the global market. The previous 24 hours have been doing fairly well; the market value of Ethereum is $2,925.
Ethereum has risen from $2,790 to $2925, with a trading volume estimated at $12 billion and a market cap of $351 billion at this moment.
Cardano isn’t moved by market stability
Cardano has performed well on and off the market and has just reached a new lowest point. It is down by more than 2% percent over the previous 24 hours.
Cardano‘s value has plunged to $1.04 after the current decline, with an estimated trading volume of $1,304,969,087, and the market cap has increased to $35,187,356,390.
Solana remains under the $100 market value
Solana is in the same boat as other cryptocurrencies. The latest 24 hours’ data indicates a gain of 0.6 percent. While the past seven days have been depressing, the loss is more than 19 percent. The current price of the Solana is about $96.
Solana currently has a market capitalization of around $31 billion. The positive market has also affected the trading volume of Solana, which is projected to be $1.3 billion. As seen by the previous days’ losses, Solana’s chart demonstrates a tendency of continual decline.
Crashing cryptocurrencies in early 2022 is nothing new. After the 2018 decline, it’s uncertain whether the crypto verse is heading for another crypto winter or a quick recovery later this year. Block chain and cryptocurrency use are expected to grow in the next years as they mature and create new opportunities.
As people add cryptocurrencies to their portfolios and utilize them to power on-chain transactions, demand should rise. Bitcoin is poised to cross $100k and become digital gold, dragging up all other cryptos necessary to power vital infrastructure and daily life.