Bitcoin
BTC$42 435.30

-3.82%

Ethereum
ETH$2 898.43

-7.49%

Cardano
ADA$2.23

-0.57%

Tether
USDT$1.001440

0.09%

Binance Coin
BNB$352.49

-7.00%

XRP
XRP$0.932568

-6.42%

Almost all the top 250 coins declined in price in September


30 Sep 2020   #Ethereum

The DeFi hype faded in September, dragging prices with it. Over the last few months, DeFi protocols including Yearn.Finance, Compound, Synthetix, and Chainlink have seen their token prices go through the roof, sparking talk that the long-awaited bull market might be here. The DeFi boom is built on Ethereum and propelled ETH’s price rise from $100 in March to $470 in August.

However, the DeFi euphoria has been fading in recent weeks, and there is bearishness in the rest of the market too. For the past two weeks, ETH price has been hovering at around $350.

And according to CoinMetrics, 72% of the top 250 crypto assets have declined in price week over week, and that number increases to 93% for the month over month analysis. Looking at Messari's DeFi chart, across September, most DeFi tokens corrected by anywhere between 15% - 85%, with bZx Network losing 85%, Curve down 78%, Swerve (-76%), Ren (-57%), Balancer (-53%), THORChain (-52%), Synthetix (-34%) and AAVE (-29%).

To better understand what’s going on here, let’s look at a rolling 7-day metric using the ratio of assets making new 30 day highs less a ratio of those making 30 days lows. The chart shows bearish levels not seen since the selloff in March of this year — but thankfully still a long way off the depths of crypto winter in 2018.

While the recent pullback has some traders wondering if the party is over, trend reversals are common in bull markets. During the bull market of 2017, there were numerous price retracements.

For instance, in early 2017, when Bitcoin hit $1,180 for the second time, it triggered a massive sell-off and the top cryptocurrency fell by almost 40%. And of course, that didn’t stop Bitcoin from reaching an all-time high around $20,000 later that year.

 In its newsletter this week, DeFiWorld suggested corrections were normal and just part of a larger trend, adding this year reminded them of 2016.

"We move in bubbles and 4-year cycles. While everyone is just thinking about what happens today, this week, or this month, you should zoom out and reflect where we are really heading. The long term trend is clear: It’s upwards."

Source


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 86% 27 $42 435.30 -3.82% -10.67% $798 843 453 346 $41 875 933 869
2 Ethereum (ETH) ETH Ethereum predictions 74.8% 50 $2 898.43 -7.49% -16.63% $341 018 107 532 $25 119 846 328
3 Cardano (ADA) ADA Cardano predictions 64% 78 $2.23 -0.57% -6.34% $71 411 624 055 $5 734 484 720
4 Tether (USDT) USDT Tether predictions 96% 1 $1.001440 0.09% 0.11% $68 691 485 942 $92 416 325 974
5 Binance Coin (BNB) BNB Binance Coin predictions 60.8% 78 $352.49 -7.00% -14.45% $59 266 206 180 $2 064 251 017
6 XRP (XRP) XRP XRP predictions 75.2% 48 $0.932568 -6.42% -12.98% $43 567 385 538 $4 641 985 825
7 Solana (SOL) SOL Solana predictions 63.2% 83 $139.49 -5.82% -1.32% $41 467 489 552 $4 041 527 553
8 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000761 0.07% 0.05% $30 432 510 822 $3 991 490 878
9 Polkadot (DOT) DOT Polkadot predictions 62.8% 74 $30.77 -2.94% -9.08% $30 391 187 124 $3 785 910 016
10 Dogecoin (DOGE) DOGE Dogecoin predictions 65.2% 78 $0.208918 -6.33% -14.44% $27 455 953 723 $2 219 973 271
11 Avalanche (AVAX) AVAX Avalanche predictions 63.2% 82 $73.45 -4.25% 12.05% $16 179 548 858 $2 391 193 014
12 Terra (LUNA) LUNA Terra predictions 68.8% 61 $34.85 -2.03% -0.58% $13 942 018 660 $2 307 928 114
13 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $1.000668 0.05% 0.05% $13 477 216 401 $6 991 450 944
14 UniSwap (UNI) UNI UniSwap predictions 65.2% 74 $19.64 -8.12% -20.80% $12 010 497 802 $461 226 982
15 Chainlink (LINK) LINK Chainlink predictions 68% 64 $22.80 -7.36% -19.93% $10 361 191 269 $1 641 630 892

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