The global crypto market cap is $2.24T, a 0.68% increase is being seen over the last day. The crypto market dived further on Wednesday to see another wave of red after signs of recovery on Tuesday. We will review the most prominent crypto pairs.
Bitcoin: BTC price declined by 2.59% in the last seven days, and the price dropped by 1.38% in the last 24 hours. Bitcoin is currently trading at $46,922.64.
Bitcoin’s price recovered slightly to above $46,5K. After reaching its all-time high in October, the crypto giant has been on a bearish trend, reaching the same levels as in May-June. It seems retail interest in BTC is diminishing, with institutions and whales being the main drivers behind the price.
Ethereum: Ethereum price took a massive 5.7% dip in the last seven days. Furthermore, it declined by 2.32% in the last 24 hours. Currently, ETH is trading at $3,702.57.
It seems that every major Ethereum airdrop initially caused interest in the market, followed by a major sell-off. Other coins recorded new highs; however, all the ETH tokens launched with an airdrop lost over 50% of their value.
Ripple: XRP recorded the biggest losses of the top 10 coins, having lost 16.11% in the last seven days. The coin also lost 2.77% in the last 24 hours. XRP is currently trading at $0.827.
As known that cryptocurrency in 2021 has been full of waves-ups and downs, Arcane Research may surprise us with its 2022 cryptocurrency insights and market reports. According to the bespoke crypto research and analytics firm, XRP and Cardano will likely drop from the top 10 crypto rankings list.
Litecoin: Current value of LTC is $146.48, down by 5.85% in a week and 2.07% in the last 24 hours.
Compared to most altcoins, Litecoin has an exceptionally higher adoption rate, yet we see Litecoin struggling to make it to the sweet spot and being a inconsistent vehicle of investment. The Litecoin’s price fell under $150 and cannot rise about even after a short-term bull run. The community, however, is losing a bit of interest in the adaptation of this altcoin.
