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||71.6%||54||$28 321.68||2.28%||8.48%||$547 363 076 214|
|2||ETH||Ethereum predictions||78.8%||39||$1 817.69||3.62%||5.68%||$222 437 708 965|
|3||USDT||Tether predictions||90.8%||1||$1.001105||-0.07%||-0.18%||$78 572 798 041|
|4||BNB||Binance Coin predictions||70.8%||51||$325.66||0.31%||-1.61%||$51 419 192 454|
|5||USDC||USD Coin predictions||92%||2||$0.999778||0.08%||-0.02%||$34 416 346 579|
|6||XRP||XRP predictions||84.4%||21||$0.434678||-3.53%||17.51%||$22 147 264 021|
|7||HEX||HEX predictions||62%||82||$0.111054||-9.71%||27.40%||$19 257 973 692|
|8||ADA||Cardano predictions||74.8%||44||$0.367937||-0.76%||10.36%||$12 775 060 278|
|9||STETH||Lido stETH predictions||90.8%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|10||DOGE||Dogecoin predictions||73.2%||51||$0.076721||1.67%||2.49%||$10 178 610 379|
|11||MATIC||Polygon predictions||76.8%||47||$1.15||2.04%||-3.24%||$10 016 033 654|
|12||SOL||Solana predictions||72%||52||$22.02||1.29%||9.81%||$8 449 847 577|
|13||BUSD||Binance USD predictions||93.2%||1||$0.999969||0.04%||-0.06%||$8 063 768 426|
|14||DOT||Polkadot predictions||72.4%||49||$6.33||2.46%||0.91%||$7 401 853 780|
|15||LTC||Litecoin predictions||71.6%||59||$95.37||8.32%||16.29%||$6 919 022 798|
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