Ethereum takes the baton as crypto continues its run

ETHEREUM, the original smart contracts crypto, is in the positive by more than 3% overnight and is trading around $3,940 this morning. 

Bitcoin is relatively flat, currently at $67,295, especially compared to previous weeks. The market leader has returned 9% over seven days and 50% over a month. 

Among the younger cryptos, Algorand is one of the big movers overnight, in the green by 5% over 24 hours, and a significant return of 72% over 28 days. 

In crypto news, asset manager Pantera Capital reportedly wants to buy $250 million of Solana from the FTX estate. Pantera initiated the Pantera Solana Fund to acquire the coins, which will be sold at a discounted rate of 39% to investors interested in the fund, who must hold the Solana for four years, as per the sale agreement. 

In the Markets

‍

Total crypto market cap

$2.57 trillion (+3.18%)

‍

What Bitcoin did yesterday

 Daily high $67,985 |  Daily low $65,602

‍

Bitcoin market capitalisation

$1.32 trillion (+1.38%)

‍

Bitcoin volume

$43.58 billion (-27.48%)

‍

CoinDesk Large Cap Select Index 

+1.63%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies. 

‍

SP500

+1.03%

‍

Fear and Greed Index

89 (Extreme Greed) 

‍

Bitcoin’s market dominance

53.28

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

‍

Relative Strength Index (RSI)

‍47.49

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

‍

Post Script…

‍

Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.