Thursday, July 25, 2024

Market Watch March 18: Bitcoin steadies at $40,000 but remains volatile

As the week comes to an end, bitcoin being highly volatile seems to have settled for comfort at the $40,000 mark. This comes after several days of relatively calm behavior around the US’s Federal Reserve raising the interest rates.

For almost two days, BTC stayed around the $39,000 level. It made the market reminiscent of its high volatility. According to data on CoinMarketCap, the popular crypto has been down by 1.12% in the last 24-hours and is trading at $40,512. Ethereum has gained around 0.60% and is changing hands at $2,777.

But the altcoins are dwelling in the red zone. Polkadot has lost as much as 3.76% in the last 24-hours. Solana is down by 2.65%, whilst Cardano, Terra LUNA have lost nearly 3%. The popular meme coins are also in red. Dogecoin is down by 1.72% and Shiba Inu has lost 3.14%. However, Avalanche seems to be the winner. It has gained 2.58% in the last 24-hours and is trading at $78.41.

Yesterday, the crypto market saw the emergence of a new token ApeCoin – which is linked to the very popular Bored Ape Yacht Club NFT collection. ApeCoin gained nearly 1000%, as per CoinMarketCap data, in the last 24-hours. It is trading at $10.92.

The crypto market has seen volatility throughout the week. The rise in altcoins, earlier in the week, suggested a greater appetite for risk among crypto traders. It seems that despite the price rallies and crashes, major cryptocurrencies – bitcoin and ether, are stabilizing.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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