Hello everyone welcome here on my blog and sad to say that today, There is a very sluggish trend in the cryptocurrency market. In terms of market cap, only three of the top-10 cryptocurrencies - XRP, Solana, and Cardano - have more than 1% movement, out of which only one cryptocurrency is in the green zone and this is not a good situation and crypto users are waiting badly for the greenery in the market but it seems like whales want to play with money during these months.
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Situation of larget cryptocurrency
Talking about the largest cryptocurrency and obviously, that is Bitcoin, its shine has increased by about half a percent (0.5 %) and BTC dominance in the cryptocurrency market has also increased this dominance decides the future of altcoins means they will rise in the price or not, BTC dominance says all. One BTC is currently available at a price of $ 64,223.04 (and in INR it's Rs 53.67 lakh) with a gain of 0.45%. At the same time, Ethereum's shine has faded by about half a percent and this is the second-largest cryptocurrency in the world. Talking about the entire cryptocurrency market, the global/international market cap increased by 0.09% in the last 1 day time frame and reached $ 2.34 trillion (195.54 lakh crore INR).
If we talk about the current situation then There has been a decline in cryptocurrency transactions in the last 1 day. According to the data available on the biggest platform of Crypto which is CoinMarketCap, cryptocurrency transactions worth $5542 billion and in INR it's Rs 4.63 lakh crore were done in 24 hours, which was 20.69% less than the previous 24 hours. In the last 1 day, BTC's position in the cryptocurrency market has strengthened and increased by 0.21 percent and it has a 54.12 percent share in the cryptocurrency market.
Crypto weekly time frame
Now I want to talk about the weekly time frame because it is very important to check every aspect of trading. And if you want to know the market then you have to see the situation in different time frames. Now if we talk about the weekly time frame, only 1 crypto coin of the top 10 is seeing good growth and showing us some greenery. Ripple has strengthened by about 1% in one week. During this one-week time, T USDT (tether) and USD Coin are also in the rising zone but they are also almost flat and these are the stablecoins. On the other hand, in a week Toncoin crypto has fallen by more than 11 %, Dogecoin crypto by 9 %, Solana by 7%, Cardano crypto by more than 8 %, BTC and BNB by more than 3-3% and second-largest Ethereum by about 1.5 %
Conclusion
We are the users we can take steps according to the data but most of the time market is unpredictable and it goes as it wishes so advance preparation is needed in this type of situation. Now faiz makrani signing off please let me know your thoughts.
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