Bitcoin (BTC) is currently on the rise and a large part of the altcoins is being pulled along. How long this increase will last today is uncertain, however, as tensions are high over the FOMC meeting later today.
The total market cap of all cryptocurrencies initially dropped all the way to $1.78 trillion last night, but is recovering to $1.85 trillion this morning, up 0.6%.
Daily Market overview.
Market cap: $1.82T -0.71%⬇️
SPOT Volume 24h: $34.1B -2.20%⬇️$BTC dominance: 39.80% -0.51%⬇️
Fear & Greed Index: 21⬇️😱extreme fear sentiment on the Market. Most projects in loss.🔴#Bitcoin $BTC $ETH #Ethereum
— IT Tech (@IT_Tech_PL) May 4, 2022
Ethereum price recovers
Ethereum (ETH) is also on the rise, but not yet as convincingly as bitcoin. ETH first dipped as low as $2,760 last night and is at $2,845 at the time of writing, just below its 24 hour mark. According to CryptoQuant, there is a huge outflow of ETH on Coinbase:
$ETH Coinbase Outflow hits an all-time high
— CryptoQuant.com (@cryptoquant_com) May 4, 2022
SOL, XRP, AVAX, SHIB, DOGE in the min
Solana (SOL) has not yet been able to fully recover. The price is currently pushing towards $88 with which SOL is 0.7% in the negative. Ripple (XRP) initially recovered faster, but took another dip this morning. XRP is down 0.6% and comes in at $0.616. Avalanche (AVAX) also slowed down for a while this morning, but then quickly rose again. AVAX is now 0.5% in the min at $61.5. Shiba inu (SHIB) just failed to break through $0.000021 and is therefore 0.3% in the min. Dogecoin (DOGE) is currently recovering back to $0.1317, almost the same price as 24 hours ago.
BNB, DOT, LUNA, ADA in the plus
Binance coin recovers to $390 and is 0.2% in the plus. Polkadot (DOT) failed to break through $15.4, but is still 1.4% in the green today. Terra (LUNA) is in the green 1.6% and is currently pushing towards $86.5. LUNA is catching up with XRP and is now the sixth largest crypto, or the third largest altcoin excluding stablecoins, with a market cap of $29.7 billion. It is possible that XRP, which now stands at $29.5 billion, may soon catch up with LUNA again.
Cardano (ADA) just rose sharply, making it the winner among the largest crypto today. The ADA price now seems to finally break through that $0.8. This means that the ADA price is up 1.8% today.
— Ali Martinez (@ali_charts) May 3, 2022
Crypto top 100 hardest fallers
Although a large part of the top 100 crypto is still red, most prices are not too deep in the negative today. Axie infinity (AXS), graph (GRT), cosmos (ATOM), nexo (NEXO) and okb (OKB) are still about 3% in the min. For leo (LEO) and maker (MKR) that is 4% . Iota (MIOTA) is down 5%, apecoin (APE) almost 6% and algorand (ALGO) almost 7%. However, several prices from this list are currently on the rise.
The deal brought massive attention to the derivatives market, as the volume in Perpetual Swaps surpassed $1b for the first time since Nov 18
— IntoTheBlock (@intotheblock) May 3, 2022
Crypto top 100 hardest risers
With a few exceptions, we also have few outliers on the green side. Near (NEAR) is 3% in the plus. Sandbox (SAND), monero (XMR) and lido (LDO) are about 4% in the green. Thorchain (RUNE), convex finance (CVX) and waves (WAVES) are up nearly 5%. Tron (TRX) is no less than 10% in the plus today and frax share (FXS) even 14%.
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