Consolidate Crypto Prices, Handful of Altcoin Markets Pop, Bitcoin Accumulation Addresses Soar – Market Updates Bitcoin News

The price of Bitcoin and a number of digital assets has consolidated this week after some crypto markets fell over 25% the week before. At $ 987 billion, the entire crypto economy is just below the $ 1 trillion mark, growing 1.3% in the past 24 hours.

Consolidate Crypto Asset Markets

A good number of Crypto Asset Markets have been floating around in a state of consolidation while some tokens have seen significant gains over the past few days. At the time of publication Bitcoin (BTC) exchanged hands for $ 36,400 per unit with an overall market valuation of approximately $ 677 billion. BTCThe market capitalization gives the crypto asset a dominance of 66% compared to all existing alternative valuations of digital currencies. At the current price BTC has increased by 4% in the last seven days, by 54% in the 30 days, by 209% in the last three months and by 324% in the last 12 months.

Ethereum (ETH) is trading for $ 1,236 per ether and today has a market valuation of around $ 141 billion. ETH Traders are still in the green, up 15% for the week, 90% for the month, 239% for the 90-day range, and over 651% last year. The stable coin (USDT) holds the third largest market cap today, but below the tether market is the digital asset Polkadot (DOT).

Polkadot has the fourth largest market capitalization today as each token is swapped for $ 17 per unit. Below the DOT market capitalization XRP That is currently trading for $ 0.28 a coin. XRP decreased by less than a percentage during the 30-day period, but also decreased by more than 50%.

Cardano (ADA) follows XRP, and each ADA Token trades for $ 0.37 per unit. ADA has done very well in the past few weeks, hitting 36% this week. During the month ADA Prices have improved 108% and 266% in 90 days. Litecoin (LTC) is currently trading at $ 148 per coin and the crypto-asset is up over 9% in seven days. Bitcoin Cash (BCH) is trading for $ 492 per unit at the time of publication and is jumping over 5% this week. BCH has a total market cap of around $ 9.19 billion and is up 58% in the past 30 days.

“No surprise bitcoin recovered relatively easily last week,” says Accumulation

While the price of a large number of crypto assets fell last week, mainstream experts said the crypto economy was headed for a bear market. However, cryptoanalysts disagree with the bear market valuation and BTCLast week’s rebound has shown that things are still very optimistic. “Instead of a turbulent week with talks about crashes and bubbles, the last week was mostly relatively stable for Bitcoin,” said Simon Peters of Etoro in a statement to investors. “Starting from just $ 30,000, Bitcoin rose to $ 40,000 on Thursday before diving back in over the weekend. It’s currently at $ 36,389, ”added the market analyst.

Peters continued:

While some commentators have pointed out that we are currently in a bear market from a technical standpoint, I don’t personally attribute that view. This level of volatility is no different from what we’ve seen in previous bull runs. However, with Bitcoin being offered at such a high price, the fluctuations in US dollars seem to be much more significant. Expressed as a percentage, they are not. The backdrop for Bitcoin remains supportive, so it was no surprise to me and many in the community that Bitcoin recovered from its setback relatively easily last week.

An analyst has since said that BTC has a few days of consolidation and in the meantime altcoins are likely to see some action. “Three days until Bitcoin reaches a ‘relevant’ apex – that means three more days of fun with Altcoins,” said Teddy Cleps said to his 51,000 Twitter followers on Saturday.

The CTO at Glassnode told his Twitter followers that a large amount of BTC is sent to “accumulation addresses”.

“2.7 million BTC are held in accumulation addresses – that’s an increase of 17% over the past year, ”Glassnode CTO Rafael Schultze-Kraft said recently tweeted. “These are addresses that have received at least two incoming transactions and have never issued any money. Mining and exchange addresses are excluded, ”added the researcher.

Do you want to check all the actions of the crypto market with prices in real time? Check out our Crypto Market Aggregator at Markets.Bitcoin.com.

What do you think of the cryptocurrency market moves on Monday? Let us know what you think on this matter in the comments section below.

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