How Is the Crypto Market Doing Today?

1 month ago 22

After a good month, the crypto market has faced a few setbacks where the majority of cryptocurrencies lost their weeks of gains. As for today, the market seems to be recovering and moving towards new elevations.

In this blog, let us discuss what the crypto market is doing today.

Crypto Market Performance Today

The global market cap has improved from earlier and is currently at $2.5 Trillion after a 0.76 surge. The overall trading volume of the crypto market has also surged by 4.8%, pushing the value to $99.17 Billion, which is a good sign.

Looking at the meme market, both the market cap and trading volume are down. The meme market cap is around $57 Billion and is down by 2.5%, whereas the trading volume is at $7.6 Billion after a 7% fall.

Also Read: 3 Crypto To Sell In April Before Crash

The fear and greed index data has a better score today of 75 under the greed category. For the last few days, the score stayed around 70 only after declining from the extreme greed zone. The extreme zone was the time when a lot of cryptocurrencies created new all-time high values.

The overall data suggest a better price performance today. But on a close look, most cryptocurrencies in the top 10 list of CoinmarketCap are facing issues. Ethereum is trading around $3286 after a 1% drop from yesterday, Solana price is down by 5% where the current price is $175, Dogecoin is down by 2.8%, and the current price is $0.1742, etc. The same is happening with BNB and Cardano price.

Bitcoin Is Making A Recovery

Bitcoin price dropped to a low of $64K previously, but as of now, the price has lifted to $67K. The price has surged 1.32% from what it was yesterday, and the trading volume is also up by 17%, pushing the volume to $36,398,625,752.

The price fall earlier was a result of the upcoming Bitcoin halving. There’s still, many days are left for the halving event, so a few more price fluctuations might occur.

The user expectations are also high, as a long bull run might start after the Bitcoin halving event. Bitcoin is now just 9% away from its all-time high value achieved on the 14th of March, and the long bull run might push this value above the $100K mark.

Pendle (PENDLE) Dominating The Crypto Market With Highest Hike

Pendle has made a remarkable recovery this year. The Pendle price is surging from the start of the year. In the past month, the price has surged by 103%, and the current value is $6.26. It is on the best performance since launch, three years ago.

Also Read: Trader Turned $100 Crypto Investment Into $8.3 Million In A Week; Here’s How He Did It

In the last 24 hours, the price has surged by 26%, and the market cap is also up by 24%. Pendle is ranked 68th on CoinmarketCap, with its market capitalization of $1,498,261,610. Interestingly, the trading volume is up by 263%, where the volume is $350,950,346.

Conclusion

So, the second quarter of the year had a slower start compared to the expectations. The crypto market is stuck under correction and will require some time to recover. Now, investors are eyeing the Bitcoin Halving and Spot Ethereum ETF approval for better crypto market performance.

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