Tuesday , August 3 2021

Market Update: Bitcoin remains below $ 3,900, while Ethereum closes the XRP gap

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As we approach the end of 2018, this year's bitcoin turned 10 years ago, it seems that the collapse of the cryptoaval ecosystem may not be completed, although this trend may change next year, as capital markets appear to enter a bearish period.

At present, according to CryptoCompare data, bitcoin trades at $ 3,870 per drop from about 1% in the last 24-hour period. Its market limit is about $ 67 billion, which means that there are 51.8% of the market share of ecosystems.

Bitcoin prices in the last 24 hours

This year the battle ranged from over $ 13,000 to a minimum of $ 3,200 before recovering. Despite the decline, adoption has increased as the number of ATMs with crypto-capacity, as they are covered, doubled to more than 4,000, with 6 being installed daily this year.

In addition, the BTC solution for scanning the layer two, Lightning Network (LN), is constantly growing. This month, he surpassed the capacity of BTC 500, and saw a crypto artist sell a small piece of artwork for a millionaire, about $ 0.000000037, in the most likely cheapest artwork ever sold.

Bitcoin is often considered a tool for protection from an economic crisis, because it is considered healthy money. It was created after the financial crisis in 2008 and since then the stock market has been one of the biggest bulls in history. However, it is obviously close to its end, and some analysts argue that BTC can thrive as the stocks collapse.

Looking at the S & P 500 index, it's easy to see why the stock market is believed to be entering the bear market. After seeing a 250% increase from the financial crisis in 2008, the index began to decline from a high level of around 2,929 to 2,350. Although recovered at 2.456, some said that this could be a bounce of dead cats.

The industry average Dow Jones has seen a similar rally in recent years, and has also begun to decline in recent months. Peter Brandt, a technical trader who predicted the fall of the battle at 84% this year, thinks Dow is set to face a similar correction.

ETH starts closing On XRP

This year Ethereum ether has recorded its price drop from all times high close to $ 1,400 to a minimum above $ 80 before it recovers. In the press time, ETH trades 139 dollars after a 1.9 percent increase in the last 24 hours, and its market limit is $ 14.3 billion.

This decline noted that it was losing its position as the second-largest crypto-liquidity with a limit on the XRP market, which fell from high over $ 3 to $ 0.37 in press time. Its market limit is $ 14.9 billion, as its price dropped by almost 1% in the last 24-hour period.

Market roof of Ethereum and XRPThe Ethereum market is close to exceeding that of the XRP

The gap between the two cryptoctectants falls. While the XRP has been on the rise from 26.9% in the past two weeks, ETH increased by 59.8% over the same period. If its price continues to rise, it will soon seek the title of the second largest crypto-currency.

Most other top cryptographies, including EOS, TRX and LTC, are less than 1%. NEO is significantly increased by about 4% in the indicated period.

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