Bitcoin, Ethereum, Fantom, Monero Daily Price Analysis

The cryptocurrency market is full of surprises when it comes to price swings. The market can turn into a bear or a bull in no time. The volatility of the crypto market is its most unique feature. This sets it apart from other financial markets and makes trading riskier but profitable for individuals.

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However, the crypto industry has been growing relentlessly lately. An emerging concept of Bitcoin is now home to more than 16,200 crypto tokens. There are more than 450 cryptocurrency exchanges that provide cryptocurrency related services to people all over the world.

With the transition to 2022, the ease of use of crypto is a very well-known factor. It is considered an asset class because it is used for trading and investing. Over time, more and more money is being transferred to the digital currency sector with new and diverse projects. At the time of writing, the total market cap of cryptocurrencies is $2.24 trillion, with the daily change increasing 1.27%.

Bitcoin remains just above the important $47,000 mark
With the Christmas and New Year holidays, the cryptocurrency market is plagued by uncertainty. However, expect a downward trend as people usually withdraw money these days. Bitcoin also masks this factor in its price development. The coin was up slightly by 1.01% on the last day. However, it is still around 5.64% below its weekly price swing.

BTC is currently worth $47,350 and has a market cap of over $896 billion. The trading volume of the leading cryptocurrency token is around $24.50 billion. The holiday season is coming to an end and then a clear breakthrough is expected for Bitcoin. The general market today also does not have a clear model.

However, the annual close for Bitcoin is at an astounding level. Recently, the coin hit a record high of over $68,000. Many experts expect the coin to be close to a six-figure number, but Bitcoin has other plans. Bitcoin’s dominance also dropped to 40.0%, which is low by his standards. However, it remains to be seen how the coin performs in the coming weeks, as historic Bitcoin posted gains in the first month of the new year.

Ethereum is showing no significant improvement and remains around $3,750
The leading altcoins in the cryptocurrency market have recently suffered in terms of price as well. So far, Ethereum is expected to exceed $5,000 and mark a new record high in history. However, it has suffered from market volatility. In recent days, the performance of the coin has not been good.

At the time of writing, Ethereum is hovering around $3,750. Prices show little or no change as ETH is holding about 8% below the previous week’s price. The market cap and trading volume of the coin have also fallen recently. Its market cap is currently under $446 billion and its trading volume is $9.46 billion.

On the other hand, Ethereum competitors fared relatively better than ETH. Due to SOL, ADA and LUNA remain on the market in more positive countries. These coins have lost their winnings over the past week and are also declining in terms of weekly price changes. But recently they have shown an intention to recover.

On the last day, ADA was up 2%, SOL was up 3.26%, and LUNA was up 4.70%, topping $91. It’s too early to talk about the price evolution of these coins. However, all three are known to be Ethereum killers. They overshadow the performance of ETH, which can influence individual investment preferences.

FTM achieves double-digit profit percentage, followed by ATOM, XMR and ALGO
No significant price changes were recorded on the cryptocurrency market. However, there are some coins that have seen a green candle during the last 24 hours of trading. Only a handful of tokens managed to regain most of their lost value over the past week.

FTM is a leading well-known cryptocurrency maker, seeing profits of more than 10%. The token crossed the $2.50 mark and is also growing in its market cap and trading volume. The coin has grown by about 13.50% in the last 7 days. Its market cap is already over $6.30 billion and trading volume has exceeded $835 million.

In addition, coins such as Axie Infinity (AXS) and Sandbox (SAND) also experienced significant declines. AXS is already under $95 and SAND is under $6. Both coins have fallen 13% and 15% respectively over the past week. The graphs of these coins do not give a positive picture for the coming days.

In addition to these symbols for the game and the metaverse, meme coins like Shiba Inu and Dogecoin have also continued to decline. DOGE is currently at $0.17 and SHIB is currently at $0.00034. Both coins are up slightly around 0.50% on the last day. The increase, however, was insignificant compared to their 10% decline last week.

The cryptocurrency sector is engulfed in uncertainty without the prices of large coins and tokens having such a boost. This year’s candle also ended below analysts and pundits’ expectations. However, the crypto community is optimistic that the industry will thrive at the start of the new year.

Bitcoin and other big coins should be successful in the coming weeks to challenge the bulls. Speculators predict that Bitcoin is at a point of creation or breakdown and therefore may rise significantly or fall to new lows. If the leading crypto token manages to fill the gap with the highest level ever, the market could spike in no time as well.

Traders and investors are looking for tokens like MATIC, LUNA, and DOT which are expected to be successful in the near future. However, the next few weeks will provide a clear view of the long-term trends and patterns of the market.