From cryptocurrencymarket initially seemed to avoid the effects of the release of inflation data in the US. Bitcoin (BTC) and altcoin prices almost immediately made a nice bounceHowever, that increase turned out to be short-lived. Bitcoin then fell sharply and most other crypto fell even harder. Total market cap stands at $2.05 trillion this morning, after falling more than 3% in the past 24 hours.
Daily Market overview.
Market cap: $2,06T -1,99%⬇️
SPOT Volume 24h: $58,67B +4,89%⬆️$ BTC dominance: 39,66% +0,08%⬆️
Fear & Greed Index: 50 Neutral 👀sentiment on the Market. Most projects in loss🔴#Bitcoin $ BTC $ ETH #Ethereum pic.twitter.com/hfkCG2NPY6— IT Tech (@IT_Tech_PL) February 11, 2022
Ethereum in ‘t rood
Ethereum (ETH) ran into too much resistance around USD 3,250 on Wednesday, then dipped as low as USD 3,175. Yesterday the price was able to recover from that dip, but shortly after ether returned to $3,250, inflation figures were released. The price this time dipped to $3,150 and made a strong bounce there. However, then ether was rejected again at $3,250 and then plummeted all the way towards $3,000. Ether has been slowly recovering this morning and is currently tumbling above $3,100 pushing the price down 4.7%.
#Ethereum adoption is not only about big players.
The number of addresses holding between 0.1-1 ETH is currently at an ATH.
In the span of 1 year, the number of these addresses increased by 98% and now they collectively hold 1.78m ETH (increasing by 4.54% in 1 month) pic.twitter.com/LQS8ecPEzS
— IntoTheBlock (@intotheblock) February 10, 2022
Prices of major crypto sharply in the minus
Avalanche (AVAX) holds up best among the largest crypto. AVAX is only 0.5% down and is back at $90. Binance coin (BNB) also dipped slightly less than ether and currently stands at USD 416 after falling 2.5%. Also cardano (ADA) holding up slightly better, falling 3.9% to $1.15. Dogecoin (DOGE) drops 4.3% to USD 0.152 and then the red numbers quickly climb.
Terra (LUNA) is down 5% at $54. Solana (SOL) is even down 7.2% and is now pushing towards USD 106. Polkadot (DOT) is down a whopping 7.4% to $20.5. Shiba Now (SHIB) also loses 7.4% of its value and drops to $0.000031. Ripple (XRP) however, loses even 8% of its value and drops to $0.816. Despite this, XRP is still 34% in the plus this week and SHIB 50%.
Top 100 hardest fallers and risers
Among the top 100 we find a large number of prices that fell even faster. Synthetix (SNX), oasis network (ROSE), radix (RDX), thorchain (RUNE), harmony (ONE), maker (MKR) and gala (GALA) are all about 8 to 9% down this morning. Nexo (NEXO), kadena (KDA) and waves (WAVES) even lose 10% of their value in the last 24 hours. Arweave (AR) and convex finance (CVX) are the biggest losers of the day, both more than 12% in the red.
Yet there are still a handful of prices that are turning green in the top 100. Smooth love potion (SLP) is 2% in the plus today and now 222% (!) compared to a week ago. Ethereum classic (ETC) is up 3.5%, celsius network (CEL) is up 4.3%, iotex (IOTX) is up a whopping 9% and theta network (THETA) is the big winner today. THETA is up 14% and currently stands at $4.20.
⚡️Coin of the day by social activity – @Theta_Network $THETA
10 February 2022 pic.twitter.com/F0Z08sDbOX— CryptoDep (@Crypto_Dep) February 10, 2022
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