Cryptocurrency Market Experiences Slight Downturn with Decrease in Overall Market Capitalization
In the latest update on the cryptocurrency market, Space ID has emerged as the top trending search on CoinMarketCap. The market seems to be experiencing a slight downturn as the overall market capitalization decreased by 2.69% to $1144 billion. However, the spot volume in the last 24 hours increased by 1.76% to $68.53 billion.
Bitcoin (BTC) is currently priced at $27,330, while Ethereum (ETH) is at $1,741. The BTC dominance has increased by 0.03% to 46.14%, while the ETH dominance is at 18.6%. The ETH gas price is currently at 13 Gwei.
In terms of liquidations, over the past 24 hours, more than $246.08 million has been liquidated, with 66,090 traders affected. The largest liquidation occurred on the Bitmex exchange, with a value of $7.39 million.
The top gainers in the last 24 hours include FUBT Token (FUC) with a 26.3% increase, Revolution Populi (RVP) with a 25.6% increase, NvirWorld (NVIR) with an 18.9% increase, Voice (VOICE) with an 18.4% increase, and MANGOMAN INTELLIGENT (MMIT) with an 18.3% increase.
Except for 2021, Bitcoin’s current value is higher than the realized price of every previous year. This is a positive development for investors who have held onto Bitcoin for the past few years, as they are now in a position to reap some profits. To provide context, the chart below shows the average withdrawal prices for each cohort established by date, starting on January 1st, from the year Bitcoin was introduced up to the present year.
- All-time: $11,173
- 2017+: $15,267
- 2018+: $18,698
- 2019+: $21,863
- 2020+: $26,413
- 2021+: $36,465
- 2022+: $26,225
- 2023+: $22,394
This indicates that despite the volatility of the cryptocurrency market, Bitcoin has generally shown an upward trend in value over the years.
The market sentiment seems to be leaning towards greed, with the fear and greed index at 57 (Greed). However, with the overall market capitalization experiencing a slight decrease, it remains to be seen how the market will perform in the coming days.
Overall, the cryptocurrency market is constantly evolving and remains volatile. Investors should exercise caution and do their due diligence before investing in any cryptocurrency.
Read more:
- Telegram Now Supports The Sending And Receiving Of BTC, TON, And USDT Via @Wallet Bot
- Veteran Trader Peter Brandt Issues Warning, Suggesting Bitcoin Price May Drop To Close The Gap At $20,000
- Market Watch: BTC And ETH Prices, Market Cap, And Liquidations On March 22, 2023