Mixed bag as Cardano and Chainlink lead the upward flow while Bitcoin and Ethereum ebb

IT'S a blend of positives and negatives in crypto this morning.

The prices of number one and two by market cap - Bitcoin and Ethereum - have continued to gradually slide over 24 hours, while other large-caps such as Cardano have picked up by 3%. Polygon, Chainlink and Uniswap are also in positive territory right now. Notably, Curve has added 5% to its price overnight, and Bounce Token is nearing $1.00 with an 8% rise. 

The Fear and Greed Index continues to loiter in “Neutral” as investors wait for a signal. Monthly cumulative crypto spot and derivative trading volumes have dipped for the first time in months, as uncertainty in the global economy and other factors have kept a lid on trading volumes, according to some analysts. 

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In the Markets

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Total crypto market cap

$2.27 trillion (-0.84%)

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What Bitcoin did yesterday

Daily high $62,997 |  Daily low $60,894

Bitcoin market capitalisation

$1.20 trillion (-1.57%)

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Bitcoin volume

$24.21 billion (-5.25%)

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CoinDesk Large Cap Select Index 

-2.44%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market. 

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SP500

-0.00%

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Fear and Greed Index

52 (Neutral) 

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin’s market dominance

54.65

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

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Relative Strength Index (RSI)

48.23

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.

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Post Script…

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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.