Crypto Watch on April 7: Bitcoin Holds Steady at $28,000 While Ethereum Struggles to Rebound
In the world of cryptocurrency, the market on April 7th, 2023, shows some interesting statistics. Bitcoin (BTC) is currently priced at $28,039, while Ethereum (ETH) is at $1,875. The total market cap is $1,185 billion, which represents a decrease of 0.16% from the previous day.
In the past 24 hours, the trading volume has decreased by 15.58% to $35.68 billion. The BTC dominance is at 45.1%, showing a slight increase of 0.15%, while ETH dominance is at 19.1%.
Within the last 24 hours, there were over $48.7 million in total liquidations, with 21,518 traders being affected. Bybit, a cryptocurrency exchange, saw the largest order liquidated at $936.20 million. Meanwhile, the ETH gas stands at 26 Gwei.
According to Santiment, a blockchain analytics platform, traders are transacting at a loss at twice the rate of profit. This is the first time this ratio has been negative in five weeks, indicating that traders who were eagerly buying into the rally are now giving up on it.
On the other hand, there are some top gainers in the last 24 hours. Radiant (RXD) increased by 35.1%, Taboo (TABOO) by 29.6%, Ontology (ONT) by 22.6%, Somnium Space CUBEs (CUBE) by 21.7%, and Flashstake (FLASH) by 21.1%.
The greed and fear index currently sits at 64, indicating a high level of greed in the market. This is a measure of the emotions and sentiments of traders, where higher values indicate more greed and lower values indicate more fear.
Some news articles surrounding the cryptocurrency market include Shiba Inu (SHIB), which has seen a massive 70% decrease in its total value locked (TVL) since reaching its all-time high. Shark Tank investor Kevin O’Leary also revealed that he is still investing in cryptocurrency, with Bitcoin being his top performer in the past year. Additionally, the Cardano Foundation reported that there were 64 million transactions in March, a 2.96% increase from the previous month.
In summary, the cryptocurrency market on April 7th, 2023, is showing a mix of positive and negative indicators. While there are some top gainers, there has been a decrease in the total market cap and trading volume. The sentiment among traders is currently leaning towards greed, and there have been some interesting developments in certain coins such as Shiba Inu and Cardano. It remains to be seen how the market will continue to evolve in the coming days and weeks.
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