Mooners and Shakers: Bitcoin and Ethereum steady as alts fire up; BlackRock and Coinbase hop into bed
Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform.
Right, where were we? Ah yeah — analysts think Bitcoin and crypto could go up, down or sideways. Sounds about right. Just overnight here in Oz, things are sideways with the tiniest hint of uppishness. Golf clap.
But… let’s see where Bitcoin lands on its North American weekly close, still a handful of hours away at the time of writing.
As pseudonymous, European-sounding chart watcher Rekt Capital points out, Bitcoin is “very close to performing yet another weekly close above the 200-week MA [moving average]”. And that’s generally a good sign for a market that’s moving in a positive direction… we’re led to believe.
Then again, another account this column occasionally references, “Roman Trading”, has been banging on about low volume and a “bearish divergence on the MACD — a moving average-based momentum indicator — and on the RSI (relative strength index, which measures the speed and change of price movements).
Top 10 overview
With the overall crypto market cap at US$1.14 trillion and up 0.7% since this time yesterday, here’s the current state of play among top 10 tokens — according to CoinGecko.
Actually, if you do prefer bullish stats (reasonably), here’s one. For the past 23 days or so, the entire crypto market cap has managed to hold above* the US$1 trillion mark. Bitcoin (BTC) has largely been in a holding pattern, with Ethereum gaining some ground, and a selection of top altcoins, such as Polkadot (DOT), Polygon (MATIC), AAVE and BNB all performing strongly.
In fact, DOT has located a wristband just recently and is back in the Top 10 club at the expense of Musk’s doggy meme fave DOGE.
When Polkadot first hit the crypto airwaves in 2020, there was a hecka lot of excitement for its DeFi ecosystem. While layer 1 rivalries have taken a bit of a backseat this year, overshadowed by UST/LUNA crapping the bed, crypto-contagion after effects and inflation bantz, Polkadot is still definitely one to watch for when the market eventually turns around.
Uppers and downers: 11–100
Sweeping a market-cap range of about US$7.4 billion to about US$393 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)
DAILY PUMPERS
• Oasis Network (ROSE), (market cap: US$542 million) +25.6%
• Loopring (LRC), (mc: US$599 million) +11%
• Theta Network (THETA), (mc: US$1.66 billion) +18%
• Cosmos Hub (ATOM), (mc: US$3.3 billion) +7%
- Chainlink (LINK), (mc: US$3.8 billion) +6%
Read the full article: https://stockhead.com.au/cryptocurrency/mooners-and-shakers-bitcoin-and-ethereum-steady-as-alts-fire-up-blackrock-and-coinbase-hop-into-bed/
