Crypto Watch On April 13: BTC and ETH Prices Hold Steady as Total Liquidations Exceed $183 Million
The cryptocurrency market is showing some positive signs on April 14th, 2023, with the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) trading at $30,712 and $2,113, respectively. The market capitalization has seen a 4.53% increase, reaching $1286 billion, and the spot volume has also increased by 7.60%, to $51.96 billion in the past 24 hours.
According to data from CryptoQuant, there has been a decrease in the fund flow ratio, indicating a decline in selling pressure on exchanges by whales. This metric gives an idea of how many transactions are going through the exchange. When the fund flow ratio breaks out of the uptrend, a bull market for Bitcoin typically begins. The current section looks promising, and experts are hopeful for a bull run.
The top gainers in the past 24 hours include Newscrypto Coin (NWC) with a 66% increase, SPACE ID (ID) with a 55.9% increase, SuperWalk (GRND) with a 42.6% increase, Stride (STRD) with a 36.7% increase, and XEN Crypto (XEN) with a 36.4% increase. These gains suggest that there is a renewed interest in the cryptocurrency market.
The market sentiment remains at 68 (Greed), indicating that investors are optimistic about the market’s future. This sentiment is derived from the Fear & Greed Index, which tracks emotions and sentiments prevalent in the cryptocurrency market.
In other news, Ethereum’s highly anticipated Shanghai update was released as scheduled on Wednesday night. This update allows users to withdraw previously staked ETH on the network, a feature that was not available before. The update also introduces a new way to withdraw staked funds, eliminating the need for users to submit specific withdrawal requests and pay transaction fees. However, the update has caused some difficulties for users, with many reporting issues when attempting to withdraw their staked ETH.
In a positive development, NEAR Protocol has seen significant growth in the first quarter of 2023, with a market capitalization of $1.67 billion, a 55% increase compared to the previous quarter. The cryptocurrency market has also recorded a 46% increase in market capitalization. NEAR’s quarterly revenue – the total amount of gas spent on the network – was $120,000, with the most notable growth being the number of daily active accounts, which reached an all-time high in the first quarter of 2023 at an average of 64,000 daily active accounts.
Read more:
- Crypto Watch On April 13: Cryptocurrency Prices On The Rise
- Ethereum Completes Successful Shanghai Upgrade, Validators Can Now Withdraw Staked ETH