• 18 June, 2024
News

Today’s Market Overview: Top Ten Cryptos Exhibit Bullish Momentum

In today’s market overview, Bullish sentiment continues to dominate the cryptocurrency market, as most tokens are trading in green candlestick charts. The top ten cryptocurrencies show strong gains, with strong buy signals on technical charts. BTC, ETH,  and other major altcoins have performed well in the past week, with BTC’s price surpassing the $35K mark. 

CryptoRank, a crypto market data aggregation and analytics platform, shared a tweet providing the current performance of the top coins.

The overall market capitalization has also seen a positive trend, currently at $1.43T, up by 2.29% from the previous day. This suggests that investors are pouring funds into the market, leading to an increase in overall market value. On the Fear & Greed Index at 72, the market sentiment remains in the “Greed” zone, indicating a strong belief that prices will continue to rise.

Cryptocurrencies price heat map, Source: Coin360

BTC, the largest cryptocurrency by market capitalization, is trading above $35K with a 24-hour gain of over 2.94%. For the first time in the past 4-months, BTC has broken through the resistance level of $35K, indicating a potential bullish trend in the coming days. This could also lead to altcoins following suit and experiencing price surges. The BTC dominance, which measures BTC’s market share compared to other cryptocurrencies, has also seen a slight increase of 0.15%, currently standing at 52.05%,in the past 24 hours. 

ETH, the second-largest cryptocurrency by market capitalization, has also seen a positive trend, with a 24-hour gain of over 2%. ETH token is currently trading above the $1,800 level, indicating a potential upward trend in the near future. At the time of writing, ETH is trading at $1,836 with a current market cap of $220 billion. The strong performance of both BTC and ETH is a positive sign for the overall cryptocurrency market, as these two coins hold a significant share of the total market capitalization.

BNB and Ripple( XRP) also show positive price movements, with gains of over 3.48% and 2.43%, respectively. BNB token is currently trading at $231, while XRP is trading at $0.6168. BNB has been gaining traction in the market in the past week, with its price surging by over 25% in the past seven days. The SEC’s recent settlement with Ripple boosted investor confidence in XRP, leading to its recent price surge.

Other notable gainers in the top 10 cryptocurrencies include SOL (+12.7%), ADA (+6.77%), and DOGE(+3.7%). These altcoins have shown strong bullish trends in the past week, indicating a potential shift towards altcoin investments in the market. SOL currently trades at $44.46, ADA at $0.3104, and DOGE at $0.06954.

In today’s market, the top gainers in the cryptocurrencies include Aave (+15%), ROSE (+14%), and UNI (+13%). These altcoins have shown strong price movements in the past few days, indicating potential investment opportunities for traders. On the other side, the top losers in the past 24 hours include LEO (-1.16%), RUNE (-1.17%) and XMR (-0.82%). Despite these losses, overall market sentiment remains positive, with strong bullish trends in most cryptocurrencies.

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