Bitcoin
BTC$66 661.99

-0.78%

Ethereum
ETH$3 091.54

-1.38%

Tether
USDT$0.999955

-0.01%

Binance Coin
BNB$576.30

-0.90%

Solana
SOL$172.54

-0.95%

USD Coin
USDC$1.000055

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 85.2% 20 $66 661.99 -0.78% 9.21% $1 313 286 357 219 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 86.4% 20 $3 091.54 -1.38% 7.12% $371 376 449 299 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $0.999955 -0.01% 0.03% $111 429 922 801 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 89.6% 6 $576.30 -0.90% -1.94% $85 054 179 016 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 78.8% 42 $172.54 -0.95% 22.98% $77 471 147 278 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94% 1 $1.000055 0.01% 0% $33 497 191 204 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 88.8% 8 $0.512600 -2.07% 4.18% $28 341 122 489 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 70.8% 65 $6.34 -1.61% -7.69% $22 023 425 481 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 79.2% 30 $0.151251 -3.02% 10.32% $21 834 921 284 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 84% 23 $0.469351 -2.51% 9.51% $16 746 496 038 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.4% 41 $0.000024 -4.51% 9.69% $14 044 244 503 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 80% 38 $36.06 -4.38% 11.66% $13 802 975 866 AVAX 7 days price change
13 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 85.6% 18 $0.121333 -0.92% -4.35% $10 609 537 077 WTRX 7 days price change
14 TRON (TRX) TRX TRON predictions 86% 21 $0.121321 -0.96% -4.20% $10 608 524 161 TRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 89.2% 18 $66 645.37 -0.66% 9.24% $10 363 126 056 WBTC 7 days price change

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