Daily trading volumes have slumped to monthly lows as Bitcoin and most altcoins remain silent. Meanwhile, tomorrow is an important day for many altcoins. Here’s what will happen in 6 altcoins tomorrow…
Important day for 6 altcoins is tomorrow
- TradersCoin (TRDC) will make minting announcements tomorrow for its first 2030 NFTs.
- PNetwork (PNT) has announced that it will make a big announcement tomorrow.
- LBank lists LinkDao (LKD) with USDT pair.
- Ooki (OOKI) will hold a question and answer event with Cryptominers. The event will start at 16 CEST.
- Coinsbit lists Aurix (AUR) with USDT pair.
- BitMart lists StorX (SRX) with USDT pair at TSI 13.
What is the latest situation in the market?
Bitcoin continues to trade around $23,000 after another day without any decisive moves in either direction. The weekend is also pretty calm for altcoins. Most are slightly red in color on the daily scale. As we’ve reported as Krptokoin.com, Avalanche is among the few exceptions. Last weekend was significantly more volatile for the crypto market. For example, Bitcoin climbed above its six-week high of $24,600. This price increase was fueled by the recent rate hike by the US Federal Reserve and US President Biden’s refusal to acknowledge that the country was in recession.
However, the strength of the bulls weakened in the following days. BTC fell below $23,000 several times, the lowest level of which was $22,500 on August 4. However, it bounced off soon after and even tried its hand at $24,000. But there it failed. As a result, he was back at $23,000 and spent most of the next few days at this point. The absence of these significant price movements was due to the absence of high trading volumes.
Altcoins are also calm
On the other hand, somewhat unexpectedly, altcoins are also quite calm on a daily scale. Ethereum was among the top performers yesterday. It hit multi-week highs above $1,700. Now, though, the second-largest crypto has bounced back below that level after a 2 percent drop. Most other major coins also faced minor daily drops.
Binance Coin, Ripple, Cardano, Solana, Polkadot and Dogecoin are now in red. Avalanche became the only altcoin in the green. It’s up almost 3 percent and sits at $26. Interestingly, Celsius gained more than 6 percent in one day and more than 30 percent weekly. As a result, CEL is trading above $1.3. The cumulative market cap of all crypto assets remains calm at just under $1.1 trillion.
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