Markets
Analyzing the performance of the main cryptocurrencies in the current market; Buy, sell or HODL
The last three days have been quite bearish for the cryptocurrency market, where the value of most cryptocurrencies fell, reducing the overall market capitalization to $2.41 trillion on May 11. Its impact was mainly noticed on the price of Bitcoin, which fell to its value for the week. minimum of $66,203. However, today is different as a small recovery has occurred, including market sentiments moving to 58 from the week’s low of 56, fear and greed index.
In this sense, we will discuss the performance of the main cryptocurrencies in the current market.
How are top cryptos performing today?
According to CoinmarketCap, the main cryptocurrencies are Bitcoin, Ethereum, Binance Coin and Solana. XRP and others based on their market capitalization. Most importantly, the demand and popularity of cryptocurrencies makes them stand out from the rest.
1.Bitcoin (BTC)
Since the previous decline, Bitcoin has recovered after the Consumer Price Index (CPI) data were released yesterday. However, the rise did not last long, as the Bitcoin price fell to $67,512 with a market capitalization of $1.3 trillion. Despite this, this may be the lowest point Bitcoin has reached before surpassing the ATH.
2. Ethereum (ETH)
Despite the approval of the Ethereum ETF, Ethereum Price it is only declining where it currently stands at $3,489. The downtrend has been ongoing continuously for a week, reducing overall market demand. It is at its lowest values and is among the perfect cryptos to buy this week.
3. Binance Coin (BNB)
BNB is slowly moving away from the newly created all-time high target of $720.67. O BNB Price it is currently at $603.8 after moving 16.03% from ATH, of which a 1.8% drop occurred in the last 24 hours. BNB had already maintained its unreachable high ATH for almost three years, risking the same this time as well.
4. Solana (SOL)
Solana is currently trading at $151.16 with a market cap of $69.7 billion after facing a 12% drop this week. It has come a long way to reach the all-time high target of $260.06 set three years ago, but the current decline has pushed it further away. It is among the least profitable cryptocurrencies in this bull market period, despite the popularity of Solana meme coins
.
5.Ripple (XRP)
With many analysts stating almost no hope for XRP, it is still among the top cryptocurrencies with a high market share of $1.2 billion in market value. XRP Price
is at its lowest point of the year with its current value of $0.4846 and could continue to fall as it has been in a downtrend for years due to regulatory issues with the SEC.
6.Dogecoin (DOGE)
Dogecoin Price it has also fallen from its mid-range of $0.015 and is 80% away from the all-time high target of $0.7376 set three years ago. The price is moving again after a 2.3% increase in the last 24 hours. With the support of Elon Musk and its dominance in the meme coin market, DOGE is among the most favored cryptocurrencies.
7. Toncoin (TON)
Toncoin price is growing today as it rose 6.48% from yesterday and traded at $7.53. The altcoin is now just 3% away from its all-time high target of $7.78 set just a week ago. As the trend continues, TON could reach a new high soon.
8. Cardano (ADA)
With some ups and downs, Cardano is also on the profitable side of cryptocurrencies for now, especially recovering today with a 1% increase after a previous decline. At the time of writing, the ADA Price is $0.4308, which is 86% away from the ATH set three years ago. Cardano has a high profit potential despite the dips.
Although these cryptocurrencies are at the top of the list, many have failed to meet expectations for years, limiting their role in the cryptocurrency market. However, they are at the top for a reason and have a high profit potential when the situation becomes favorable.
Keep reading 5 Altcoins Regaining All-Time Highs After Market Crash