Bulls and bears continue to play tug-of-war with varying success. Over the weekend, Bitcoin gave market participants hope for continued gains as it rose to $42,500, but sellers stepped up again, bringing the price back below $40K. Low trading volumes of around $25 billion make Bitcoin vulnerable to manipulation. It may be because of manipulation that we are now seeing the price swing near round value.
Low trading volumes, in general, could lead to a situation where a few large investors can move Bitcoin and the entire market after it. The return of Bitcoin’s hash rate growth may contribute positively. The prospect of rising prices will encourage miners to launch their ASICs in new jurisdictions as quickly as possible. Reduced computational complexity creates a competitive advantage for those who haven’t shut down their equipment or can hurry with relocation.
While the first cryptocurrency continues to play the role of the engine of the crypto market, some developments may still have the potential to impact their own. Ethereum’s recent growth is pegged to the upcoming “London” hardfork, scheduled to take place around August 4th. Ethereum is trading around $2,600, showing an increase of 11% over the week, but we should understand that the price grows before the event and can significantly fall.
XRP is also back in the news field. The project hasn’t been pleasing holders with new partnerships for a long time. And now it has been announced that Ripple will launch a payment corridor between Japan and the Philippines based on On-Demand Liquidity (ODL) for international payments. Although RIpple is not directly related to the XRP token, good news for the company is often positive for XRP price.
Attention during the week will also attract Binance, and despite all the flow of negative news around the exchange, the token BNB behaves surprisingly steady. Market participants are looking at what is happening from a broader perspective, realizing that the current events may be part of a larger plan to IPO.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||65.6%||74||$30 326.91||1.12%||-1.69%||$577 507 167 326|
|2||ETH||Ethereum predictions||66.4%||75||$2 076.58||2.21%||-10.32%||$250 891 465 462|
|3||USDT||Tether predictions||96%||1||$0.999001||0.01%||-0.08%||$75 676 462 108|
|4||USDC||USD Coin predictions||96%||1||$1.000230||-0.02%||-0.04%||$52 257 987 348|
|5||BNB||Binance Coin predictions||65.6%||71||$304.44||2.05%||-3.10%||$49 708 837 503|
|6||XRP||XRP predictions||66.8%||66||$0.435585||2.31%||-13.81%||$21 057 536 595|
|7||ADA||Cardano predictions||68.8%||66||$0.575630||2.12%||-8.16%||$19 421 209 986|
|8||SOL||Solana predictions||63.2%||76||$56.43||3.88%||-13.30%||$19 038 552 817|
|9||BUSD||Binance USD predictions||96%||1||$1.002005||0.22%||0.35%||$18 231 060 479|
|10||DOGE||Dogecoin predictions||62.4%||73||$0.089988||2.40%||-16.42%||$11 938 784 018|
|11||DOT||Polkadot predictions||67.2%||74||$11.01||1.97%||-0.91%||$10 874 092 462|
|12||AVAX||Avalanche predictions||66.4%||75||$34.13||2.44%||-22.27%||$9 183 931 187|
|13||WBTC||Wrapped Bitcoin predictions||67.2%||74||$30 349.83||1.15%||-1.21%||$8 599 743 334|
|14||TRX||TRON predictions||71.6%||60||$0.072402||4.12%||-4.60%||$7 070 299 328|
|15||SHIB||SHIBA INU predictions||64.8%||75||$0.000013||4.03%||-21.64%||$6 883 934 346|
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