In recent days, the performance of the crypto market has been quite volatile. In the beginning of the period, Bitcoin was trading above $30,000 and even reached a peak of $31,000, but shortly afterwards, the asset was pushed down by a significant bearish pressure. This resulted in a price drop to a nearly one-month low of $27,000. Despite a few bounces during the period, the asset closed at nearly 8% down for the week. Furthermore, the digital coin’s market capitalization has stabilized at around $530 billion and its dominance of alternative coins is around 46%.

The alternative coins have not been in a better position either. Ethereum is a prime example; following the successful release of the Shapella update, the asset spiked to over $2,100 but subsequently dropped back to approximately $1,800, which is a loss of more than $300. A similar situation has taken place for some of the other large-cap alts such as Ripple, Cardano, Dogecoin, Solana, Polkadot, and Shiba Inu. On a weekly basis, the performance of Arbitrum and Frax Share has been particularly poor, as both coins experienced losing streaks of over 25%.

More generally, the total crypto market capital is holding steady at $1.150 trillion. However, only Avalanche has been able to close in the green so far, registering a 3% gain and reaching $17. Furthermore, the majority of other digital coins are still on the downside, with Polygon suffering the greatest drops and being down below $1.



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