DOGE, XRP, Cardano Skyrockets, BTC, ETH Sluggish

The cryptocurrency market continues to remain sluggish due to the aggressive monetary policies of global economies. The Bitcoin “Fear and Greed Index” still shows extreme fear as the sentiment around the largest cryptocurrency. Bitcoin has dropped 1% in the past 24 hours and is currently trading at $ 19.1,000.

Ethereum continues to show bearish trends after the merger. The price of ETH has dropped close to 9% in the past 7 days and close to 1% in the past 24 hours. It is currently trading at $ 1.31,000.

The global cryptocurrency market cap has declined slightly in the past 24 hours and currently stands at $ 940.18 billion.

The biggest winners

Outside of Ethereum, the altcoin market has shown some strength. XRP continues to show excellent results, increasing by almost 6% in the last 24 hours. It has increased by over 45% in the past 7 days. It is currently trading at $ 0.511.

Cardano (ADA) has stopped its downward movement and has risen by 2% in the past 24 hours. It is currently trading at $ 0.462. On the other hand, Solana showed strong feelings and rose 5% to trade at $ 33.69.

Dogecoin (DOGE) has been one of the biggest winners in the cryptocurrency market over the past 24 hours. DOGE is up 8% in the past 24 hours and close to 2% in the last hour. DOGE is currently trading at $ 0.064.

Cronos (CRO), the token, was another big winner of the crypto market. The CRO is up 13.72% in the past 24 hours to trade at $ 0.1242.

Chainlink (LINK) continues to receive support from cryptocurrency traders and influencers. It rose 5% to trade at $ 7.44. Leading cryptocurrency trader Kevin Svenson believes Chainlink at this price is a huge opportunity. Michael van de Poppe, CEO of Eight Global, had similar feelings about LINK.

What is driving the cryptocurrency market

The cryptocurrency market is unable to break through due to the aggressive attitude of the Federal Reserve. Meanwhile, the dollar continues to show incredible strength. The broader market, the S&P 500 and NASDAQ-100, fell 1.6%.

The cryptocurrency market is strongly related to the broader market.

Nidhish is a tech enthusiast whose goal is to find elegant technical solutions to solve some of society’s biggest problems. He strongly believes in decentralization and wants to work on the mainstream adoption of the Blockchain. He is also fond of almost all popular sports and enjoys conversing on a wide variety of topics.

The content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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