There are traders who believe that right now the crypto market is in a quiet phase. A Crypto trading expert, identified as Daan Crypto Trades, one of those prominent traders who have come out openly supporting this theory. Recently, he published a post in X about the same. Interestingly, there are some shocking revelations in the post. Definity, you may find it helpful. So read on!
Trading Expert about the Current Crypto Market Scenario
Daan’s statements noted the characteristics of the present crypto market as quiet. He observed the dominance of long-term traders in the market over short-term traders. He claimed that the current nature of the market helped it to eliminate emotional traders. His statement sounded optimistic. Daan concluded his statement, emphasizing the significant role the top two cryptocurrencies, Bitcoin and Ethereum, should play in the future growth of the crypto sector. He opined that BTC and ETH should take the lead role in the next move higher in the industry.
Crypto Market Landscape: BTC, ETH & Altcoins
The total market cap of the crypto sector today is $2.28 trillion, and the total cryptocurrency trading volume is roughly $81.2 billion. In the last 24 hours, the sector has seen a negative change of -3.6%.
Right now, Bitcoin and ETH domaines the sector, with 54.77% and 14.32% dominance respectively. The dominance of cryptocurrencies excluding the top ten cryptos is just 9.56%. In the last six months, it has experienced a decline of -18.84%. And in the last one month alone, it has witnessed a fall of -2.39%.
The currency price of BTC is nearly $62,420. In the last seven days, it has displayed a slight increase of 3.0%. During the period, Ethereum, priced at $2,626.96, has witnessed a slight fall of -0.8%.
In the last one year, both BTC and Ethereum have experienced a strong increase. In the case of BTC, the rise has been reported as high as 139.6%. At the same time, Ethereum has registered an upward movement of 59.0%.
It is fair to conclude saying that the conduction is favorable for BTC and ETH to take a lead role in the future crypto momentum
Also Check Out: Why is Crypto Market Down Today?
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