Market Overview
Sunday, July 21 finds the cryptocurrency universe in a state of collective calm with major coins trading sideways. Despite the market’s expectation of fireworks, it appears that investors are more interested in a siesta, resulting in moderate losses over the past 24 hours, as reported by Coin360.
Bitcoin Takes a Dip
Bitcoin (BTC) had a false start earlier, breaking the elusive $11,000 mark before doing its best impression of a bungee jumper. Currently resting at $10,406, BTC is down 1.86% for the day, and let’s not even talk about the weekly performance—it’s lost 2.20%. One can’t help but contemplate if BTC is waiting for a more exciting moment to burst back into action!
Ether Follows Suit
Not to be outdone, Ethereum’s resident troublemaker, Ether (ETH), is also on a downward slide. At $221.26, ETH has dipped by 1.34% today. It kicked off the day quite optimistic at $233.61, even reaching a peak of $236.05, only to realize it was just mirage in the desert. Henceforth, Ether continues to ponder life and its decisions.
XRP’s Rollercoaster Ride
XRP is experiencing a similar fate, slipping by 1.78% and trading at $0.323. It is funny how this altcoin, which only a few days ago hit a low of $0.293, is still managing to show a weekly gain of 2.91%. Talk about consistency—the kind one can rely on to keep the hopes alive amidst the crashing waves!
Glimmers of Hope in the Top-20
Amidst the gloom, a few digital currencies are actually waving flags of victory. Tether (USDT), EOS (EOS), UNUS SED LEO (LEO), Cosmos (ATOM), and Tezos (XTZ) are showcasing gains. Notably, Tezos is living it upscale with an impressive hike of 9.37%. Seems like there are a few party-goers who refuse to leave the dance floor!
The Bigger Picture
As of now, the total market capitalization is floating around $288 billion, which sounds great until you realize it’s the low for the day. Daily trading volume sits at a modest $59.4 billion, which doesn’t quite scream excitement. Additionally, it’s worth noting that BTC outflows from the exchange BitMEX surpassed inflows by a staggering margin of $71 million, triggered by regulatory clouds looming over the exchange. Seems like traders are putting on their running shoes!
