The broader cryptocurrency market hasn’t seen much change in the last 24 hours. This is because the total capital remains the same.
As we head into the weekend, it’s become clear that some cryptocurrencies have performed extremely well throughout the week, so let’s take a closer look.
Bitcoin stabilizes above $17,000
BTC’s price remains above $17,000 without much movement in the last 24 hours. However, it is worth noting that although early yesterday afternoon he climbed to $17,360, the bulls were unable to continue the push and the price returned him to $17,100.
This left BTC with a 0.4% loss over the past 24 hours and a 0.4% gain over the past week, indicating that the market is unable to break out of its current trading range.
Altcoins Stagnate Downwards
As seen in the heatmap below, the majority of the altcoin market has also stagnated over the past day, but is headed downwards.
One of the best performers of the day was OKT with 8%, followed by Axie Infinity’s AXS, up 7%. This brings AXS’s total profit to over 20% in his week, which is substantial given the current market conditions.
Meanwhile, XCN appears to be the worst performer of the day, followed by BTSE token, both of which are down around 4%.
Overall, the day failed to produce meaningful movement in either direction, and this appears to be reflected in overall trading volume of around $38 billion over the past 24 hours. Usually such periods of calmness and lack of volatility lead to explosive moves in either direction.
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Cryptocurrency charts by TradingView.