The Crypto Today – ADA, BTC, DOGE Lose Up to 3%
The overall market capitalization dropped to $157 trillion after losing 2% over the past day. Also, the total market volume plunged to $74.98 billion.
The upward runs in the market over the past few weeks see traders continuing to book profits today. That had the top ten assets in the red during the early sessions Tuesday. Cardano and Bitcoin led the losers, dropping over 3%.
On the other hand, the global cryptocurrency market capitalization dropped to around $157 trillion, following 2% losses in the last 24 hours. Also, the market actions witnessed the overall market volume decreasing to $74.98 billion.
At the moment, the market does not seem to have enough momentum to sustain its recent gains. That is because of the unpredictable risks related to the London fork and the worries by discontented crypto miners.
Ethereum appears to prepare for new recoveries. The prominent alternative coin managed to cross the $2,600 level yesterday. That way, ETH has gained around 40% from its lows at $1,750. Market analysts attribute the recent ETH rallies to the anticipated London fork. According to ZebPay, traders consider the EIP-1559 upgrade a bullish mover for ETH since it aims to decrease gas fees.
Also, ZebPay declared that the ETH upgrade would impact miners. Keep in mind that the functionality will burn some of the blockchain fees, reducing mining revenue. That can force crypto miners to find other profitable alternatives by migrating.
Chinese central bank promised to impose massive regulation pressure on the crypto market after amplifying its crackdowns earlier in 2021.
Tech View
Dash crypto has been circulating in the crypto space since its launch in 2014. Developers launched DASH as BTC's private and faster alternative.
Dash aims to facilitate daily transactions as a crypto coin that supports decentralized payment deals. Dash developers are savvy fintech experts, working day and night to improve the platform's functionality and introduce robust technology, adding essential market sentiments to take the asset higher.
Recently, the project added a transaction app that helped the asset to rally. The DASH Direct application, designed to suit retail traders, is likely to increase the asset's adoption with 155,000 vendors that accept clients to pay using the coin. That way, DASH seems to enjoy long-term bullishness.
Share this article.
