The price of Bitcoin on Friday was underwhelming and found itself below the $45,000-mark. However, the Cryptocurrency market appeared to be on the upswing and even the top cryptocurrencies such as Bitcoin, Ethereum, Cardano and so on seem to be doing well as data indicated that they were trading green over the past 24 hours. Notably, Bitcoin had a price of $44,369.38 on Friday. The cryptocurrency was trading green at 1.48 per cent over the course of the last 24 hours. However, contrary to this positive trend, the performance of this coin over the duration of the last seven days was anything but. Bitcoin slumped by 7.10 per cent over the last seven days according to data from CoinMarketCap. It should also be noted that Bitcoin maintained a market dominance of 42.14 per cent, which is an indication of a surge of around 0.19 per cent over the day.
Coming to the performance of the overall crypto market, the global crypto market cap stood at $1.99 trillion at the time of this article. This indicated that the market cap surged by 1.62 per cent over the last day. Additionally, the total crypto market volume over the last 24 hours was $100.90 billion, which pointed to a slump of 11.28 per cent.
In terms of the performance of the top altcoins, they were, as mentioned above, trading green over the last 24 hours. The top four altcoins, apart from the number-one-ranking Bitcoin, are Ethereum, Cardano, Tether and Binance Coin in that order. Ether held a price of $3,095.64 on Friday, which pointed to the cryptocurrency trading green at 0.40 per cent over the course of the last day. Similar to the majority of the cryptocurrencies, it was also trading red over the course of the past seven days at 13.01 per cent. Similarly, Cardano had a price of $2.29 and surged 2.05 per cent over the 24-hour period, while also displaying a slump of 5.04 per cent over the course of the week. The cryptocurrency Tether was holding a price of $1.00 at the time of this article and was trading green at 0.01 per cent. It was also the only coin amongst the top 10 currencies to be trading green over the course of the last seven days 0.01 per cent.
Speaking on the matter of Ether and the altcoins, Siddharth Menon, COO of WazirX said, “Ether has formed a classic cup pattern, it is now forming the handle between the price range of 2700 and 4000 levels for 2 weeks. Once it breaks out of the handle towards the upside, we may see buying momentum picking up and the Funds moving to Altcoins.”
He went on to add, “Total crypto mcap is trading around $2 trillion, all eyes on the dollar index. Weakness in the dollar index would strengthen the Crypto markets. After the recent 15-20% sell-off on the cryptocurrency market, which has affected both the Bitcoin and altcoin markets, most assets have recovered back above key values like $3,000 on Ethereum.”
Here are the top 10 cryptocurrencies and their prices on September 24, 2021 (data from coinmarketcap.com while publishing the article)
Bitcoin $44,369.38 or (+1.48 per cent) change in 24 hours
Ethereum $3,095.64 or (+0.40 per cent) change in 24 hours
Cardano $2.29 or (+2.05 per cent) change in 24 hours
Tether $1.00 or (+0.01 per cent) change in 24 hours
Binance Coin $375.75 or (-0.37 per cent) change in 24 hours
XRP $0.9876 or (-1.11 per cent) change in 24 hours
Solana $145.70 or (-1.44 per cent) change in 24 hours
Polkadot $32.11 or (+2.04 per cent) change in 24 hours
USD Coin $1.00 or (+0.01 per cent) change in last 24 hours
Dogecoin $0.2231 or (-0.42 per cent) change in 24 hours