Bitcoin
BTC$16 815.91

2.46%

Ethereum
ETH$1 262.81

4.49%

Tether
USDT$0.999941

0.02%

Binance Coin
BNB$298.40

-0.55%

USD Coin
USDC$0.999977

-0.02%

Binance USD
BUSD$1.000510

0.01%

Interest in crypto is way broader than just Bitcoin


04 Nov 2021

#Bitcoin

Over the past 24 hours, the crypto market capitalisation grew another 3% and has surpassed $2.7 trillion, hurtling towards new all-time highs. At the same time, the price of bitcoin has increased by 2%, clearly indicating that cryptocurrencies are on a broader growth trajectory. Bitcoin briefly climbed above $64K overnight but pulled back to levels just below $63K on Wednesday morning. The RSI on the daily charts is at 60, stepping down after the October rally and reflecting that the market has cooled enough to clear the way for growth. The crypto Fear & Greed Index jumped to 76, one-week highs, indicating a shift in crypto-enthusiasts focus, but not wariness in general.

Bitcoin reaching new all-time highs earlier last month encourages the search for potential new crypto stars with more room for growth. The search for these ideas we divide into two streams. The first is an increase in purchases of top altcoins. These are the one or two dozen coins with relatively high capitalisation and a long history, the blue chips of the crypto market.

First and foremost is Ether, which attracts with its long history and uses in multiple projects. Although transactions are pretty expensive, the developers are on their way to solving this problem, even if this way is broken up into many stages stretching over the years. In recent months, the project’s main killer feature has been burning coins for transactions on the network, which enthusiasts call deflation. (Though economists can hardly attribute a steady price decline to the fact that the rate at which crypto coins are burning is outstripping the rate of creation.)

Ethereum Six Months Chart

Another area of search for crypto-enthusiasts and speculators in the industry is new projects, promising infrastructure or ideas, or good PR. The best PR man of our time, Elon Musk, is a nice bonus. In terms of PR, what matters is not the coin itself but the extent to which its followers manage to maintain the hype and thereby promote its ever-widening acceptance.

Shiba Inu and Dogecoin are perfect examples from this point of view, as both managed to break into the top ten most capitalised coins (excluding stablecoin USDT). The total value of all coins of each of these projects exceeds $35 billion.

Sandbox is also worth a look among the increasingly popular coins. Despite a relatively modest 8% growth per day, it has gained more than 240% in seven days. It is more than a year old, but it falls out of speculators’ sight during periods of market lull, actively accelerating only during periods of market love for altcoins, like now.

The coin stands out for its trading turnover, which has exceeded $5.27bn in the last 24 hours, putting it in fifth place behind Bitcoin (36.6bn), Ethereum (21.1bn) and XRP (5.29bn). Again, we put stable Tether (86.3bn), and Binance (7.34bn) in a different category as they are intermediaries for crypto players and interest in them does not affect the price.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 61.2% 80 $16 815.91 2.46% 2.22% $323 213 771 261 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.8% 79 $1 262.81 4.49% 8.80% $154 535 308 538 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.999941 0.02% 0.09% $65 358 819 507 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 66.4% 67 $298.40 -0.55% 0.49% $47 735 233 591 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $0.999977 -0.02% -0.02% $43 305 374 728 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000510 0.01% 0.08% $22 176 670 935 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 68.8% 66 $0.402021 2.91% 7.66% $20 217 649 686 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 58.4% 85 $0.104544 2.73% 30.58% $13 869 988 356 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 59.6% 81 $0.313452 1.39% 0.62% $10 795 931 462 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 63.6% 72 $0.866314 4.01% 2.62% $7 566 657 745 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 69.6% 67 $5.37 2.22% 0.69% $6 126 105 270 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 90.8% 1 $0.999600 0% 0.02% $5 652 893 809 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 62% 74 $77.93 2.83% -0.18% $5 589 341 445 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 68.8% 66 $0.053825 0.77% 5.80% $5 472 681 192 WTRX 7 days price change

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