Bitcoin
BTC$41 800.30

6.07%

Ethereum
ETH$2 254.14

4.72%

Tether
USDT$1.000265

0%

Binance Coin
BNB$231.16

1.80%

XRP
XRP$0.623299

-0.16%

Solana
SOL$61.88

-1.23%

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 85.2% 16 $41 800.30 6.07% 12.97% $817 650 631 149 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 85.6% 27 $2 254.14 4.72% 11.49% $271 021 537 915 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000265 0% -0.01% $89 671 342 751 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82.4% 26 $231.16 1.80% 1.90% $35 066 472 230 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 84% 30 $0.623299 -0.16% 3.17% $33 588 707 166 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 65.6% 67 $61.88 -1.23% 12.69% $26 257 579 897 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $1.000124 0.04% -0.01% $24 497 048 556 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 82% 28 $0.406130 3.91% 6.67% $14 340 520 491 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 78.4% 39 $0.088204 4.68% 11.59% $12 533 317 054 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 83.6% 19 $0.103896 0.88% -0.38% $9 196 297 643 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84.4% 21 $0.103677 0.55% -0.65% $9 176 826 999 WTRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 74.8% 43 $15.94 0.45% 11.66% $8 875 045 850 LINK 7 days price change
14 Toncoin (TON) TON Toncoin predictions 84% 22 $2.39 -0.69% -0.72% $8 206 328 944 TON 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 56.8% 87 $21.84 0% 5.94% $7 977 619 351 AVAX 7 days price change

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