Most investors’ expectations appear to have fallen. With just two days left until January 1, we see the smallest inflows of all time for our top ten cryptocurrencies. Apart from Cardano, Terra and Polkadot, we don’t see any other green placement in the top ten. Cardano can barely maintain its status in the green chart, up 0.55% during the week, but LUNA and DOT seem to be trying to stabilize their position.
The global crypto market is back where it started two weeks ago, but looks set to take a small step up. After hitting 2.17 tonnes last night, the market cap is desperately trying to rise in the crypto market. After rising 1.42%, the global market cap rose to $2,232,873,646,340 in 24 hours. It’s not as big a win as one would expect, but it is something. Investors are lucky enough to start earning rather than losing more value. With the New Year approaching, it looks like the crypto market can’t take any more losses if it enters 2022 with its heads held high.
Bitcoin and Ethereum fluctuate again.
While Bitcoin and Ethereum are at the forefront of the crypto market, that doesn’t mean they can’t suffer as much as other cryptocurrencies. The whole month is proof that Bitcoin and Etherium are suffering from a bear market more than any other cryptocurrency. The dominance of the world market for the first two coins is 60% of the total crypto market, which means that more than half of the performance of the crypto market depends on BTC and ETH.
When Bitcoin and Ethereum lose their value, 60% of the crypto market suffers; When Bitcoin and Ethereum appreciate in value, 60% of the crypto market can expand easily. Everything is currently moving in these two major currencies. With powerful influencers like Elon Musk, Mark Cuban, Katie Wood and others behind Bitcoin, there is no telling how much the crypto market will suffer if Bitcoin and Ethereum continue to lose value. With that, Bitcoin price edged up from 1.60% to $46,555. Thanks to this increase in market value, Bitcoin’s market cap rose to over $900 billion to $900,736,159,024.
As for Ethereum, the best altcoins have suffered quite a bit over the past month. Ethereum has always set people’s expectations in the cryptocurrency market given its blockchain base, but ETH is suffering as badly as ever. Half of the tokens in the crypto market depend on the Ethereum blockchain. Ethereum hit a low of $3,615 last night, desperately trying to crawl out of the hole it fell into. ETH is now trading at $3,735, up 0.09% from a silent yesterday. However, progress is progress and must be encouraged.
GNO and ALGO prices are booming with a slight increase
Gnosis is a decentralized prediction marketplace built under the Ethereum protocol and has been active since 2015. Third-party developers can also market their services. Gnosis continues to gain momentum and struggles ahead, reaching a market cap of $1,005,102,496. After rising 31.47% in the last 24 hours, the price, along with Binance Coin, rose to $540.87.