This weekend turned out to be relatively quiet for Bitcoin and Ethereum. In contrast to the previous weekend when they were down in large numbers due to freefall. The two leading coins remain in the safe zone while Binance Coin lost 0.81% in the last 24 hours. The last few weeks could be a transition period for the crypto market due to the enormous changes. These changes are not limited to any particular currency or region; on the contrary, its effects will be evident in the future.
CoinMarketCap describes this period as a major turnaround that could “turn over” leading coins like Ethereum and Bitcoin. The situation may change if Ethereum and Bitcoin make major changes to their blockchain systems. Despite the long-term swings, there is hope for a Santa rally in the coming days. The changing situation caused these coins to be recovered due to the holiday season. There is hope for a revival of guide coins due to additions as a result of the Christmas season.
Leading coins are aware of the challenges they may soon face. Therefore, they began to take environmental measures. One of them is carbon-neutral bitcoin, which will help reduce CO2 emissions. It is expected that new models will be tested and introduced to meet the new challenges.
Is BTC Safe To Relive?
Bitcoin was the hardest hit coin due to its large volume and leading position. Due to its important position and share in world market capitalization, Bitcoin suffered significant losses in the last recession.
The coin, which is expected to exceed $100,000 in the near future, returned from $59,000 to $46,000. For other small coins, this huge loss means the complete destruction of the coin, but Bitcoin is still around.
During difficult times like these, he faced many changes, including losses and gains. The latest change has increased volume by 0.21%, with the current price hitting $46,858.02. The weekly loss for Bitcoin is 4.01%.
The current market cap is $885,872,198,839 while the trading volume over the last 24 hours is $27,118,658,157.
ETH shows green signal
Ethereum was a major loser when Bitcoin reversed course. Both were hit by a recessive market and showed declines. They have been showing fluctuations lately.
According to the latest update, Ethereum has grown 0.48% in the last 24 hours. The price of this coin is currently estimated at $3,943.68 while it has lost 1.08% in the last seven days.
The market cap of the coin in question has increased since the recent recession it fell and is priced at $468,551,791,252. If we look at the market cap for the same coin, it has held at $17,198,000,940 for the last 24 hours.
The course of the past few weeks has been uneven as investor confidence falters due to changing market conditions. The liquidation of the market is why it continues its journey in the opposite direction.
LUNA added six to the volume
Terra LUNA has developed well even in the recessive phase. Unlike other coins, the chart remains green due to consistent investments. The profit he made over the last 24 hours was 6.33% which brought the price to $78.55.
Terra LUNA’s profit for the last seven days was 30.44%. Profits in times of recession show that this is not undermining investor confidence. Over the past 24 hours, Terra LUNA’s trading volume is currently estimated at $2,492,627,020. If we look at the market cap of Terra LUNA, it has also increased and is priced at $29,383,480,367.
Changes in the market turned out to be a boon for some coins, and Terra LUNA is one of them. The gains made show that if it keeps going, it can get ahead of the competition.
LINK is going through tough times
Chainlink has been going through some tough times after the last recession. Currently at number 22 on the list, he has lost 2.66% in the last 24 hours while having lost 4.32% in the last seven days. Due to the loss, the price was raised to $18.92.
Its market capitalization has also devalued. According to the latest update, the expected market cap for this is $8,836,769,063. The registered trading volume for Chainlink over the last 24 hours is estimated at $723,719,619.
Hopes for his recovery are not over yet as his turbulent journey is showing both positive and negative signs. Investors expect Chainlink to rebound as soon as the market starts to recover.
Recent changes in the market indicate improvements in the leading coins. Once they are on a recovery path, other markets will follow. This change has been observed several times in previous recessive changes. We expect the next few days to bring positive changes as Santa’s rally can attract investors to giants like Bitcoin and Ethereum.
Since there were no significant losses in this currency over the weekend, a price increase can be expected for the next week. Once the market is on track for new investments, investor confidence will recover and we can see an increase in global market cap and coin prices.