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The cryptocurrency markets experienced a total capitalization increase of approximately $6 billion over the past 24 hours. In essence, not much has transpired. Some of the prominent coins are registering minimal gains, but overall, the trend remains predominantly rangebound.
Bitcoin is still at a standstill around $30K, unable to break free from that range; let’s examine how things unfolded.
BTC Price Steady at $30K
As illustrated in the chart below, the last 24 hours did not yield any significant developments regarding Bitcoin’s price specifically.
The cryptocurrency continues to hover around $30K, with neither side managing to assert dominance. The bulls have not succeeded in reclaiming the level decisively, while the bears are also unable to drive the price down to another support area.
Source: TradingView
Consequently, altcoins have also been unable to take advantage of BTC’s stagnation. This is evident in Bitcoin’s dominance – the metric that measures its share in relation to the rest of the market. It has remained unchanged at 46.6% over the past 24 hours.
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TRON (TRX) Rises 8%, But That’s All
The heatmap below shows a predominantly green outlook for the past day, yet most of the gains are quite minimal. For example, BNB, ADA, ETH, UNI, XMR, LINK, and numerous other cryptocurrencies did not increase by even 1%.
The notable exception is TRON’s TRX. The altcoin surged by 8% during the day, making it one of the top performers among the 100 largest coins by total market capitalization.
Source: Quantify Crypto
XDC Network (XDC) surged by approximately 15.5% over the day, marking it as the cryptocurrency with the highest gain in the last 24 hours. It is followed by Casper Network’s CSPR and, as mentioned, TRX.
Conversely, FLEX Coin (FLEX) has seen a decline of 14.6%. The remainder of the market remains largely unchanged.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
