Bitcoin has managed to start the week in the green light at $30,000. The crypto market saw substantial volatility over the last 24-hours as BTC traded in the $29,274 – $30,446 range. Data suggests that trading volume declined by 11.95% totaling $26 billion.
Last week, the popular crypto saw high lows and traded with strong bearish momentum. It found some consolidation below the $32,000 resistance at the beginning of the week. At the time of writing this article, Bitcoin was up by 0.69% and trading at $29,942. In the last seven days, BTC lost 10.40%. Ethereum gained 0.80% and was trading at $2,044. The world’s second most popular crypto lost nearly 16% of its value in the past week.
The overall crypto market, as per data from CoinMarketCap, recorded slight gains. Solana rose as the biggest gainer. It has been up by 10% in the last 24-hours. Cardano gained 9%, Avalanche 4.57%, Polygon is up by 5.49% and Polkadot gained 1.38%. The meme coins also saw gains – Dogecoin gained 2.79% and Shiba Inu 3.54%.
Terra’s stablecoin UST continues to be the biggest loser. It is down by 9.75% in the last 24-hours and is very far from the $1 peg. Currently, UST is trading at $0.17. Tether stablecoin USDT is also depegged and is trading at $0.99. UST is an algorithmic stablecoin that is powered by the Terra protocol and is backed by the crypto token called LUNA.