TL; DR Breakdown
The global crypto market does not stay low for long as the cap is up 1.42%. Bitcoin makes a miniscule 0.13% profit, which rises to $ 47,000. Ethereum falls back to $ 3,900 after a 4.12% gain. Aave (AAVE) and Compound (COMP) dominate the winners list with green graphics.
Yesterday’s market crash hasn’t shaken the crypto market as much as the one in early December. Fortunately, the crypto market did not drop from an unrecoverable height and is slowly climbing its way back, but not by much. The profit and loss facing the crypto market is not enough to warrant any excitement, however this is now an everyday case scenario. Small inflows come as no surprise, as all of our major currencies are still significantly below their previous margins.
It’s nothing new that the crypto market is trying to recover from losses, but they don’t make any difference as prices fluctuate. Raising hopes is nothing but disappointment as the bear market progresses. The next strong bull run is the next thing to be anticipated in the crypto market as nothing will help our major currencies regain lost ground as much as a bull run.
Bitcoin and Ethereum increase the stakes negligibly
The bearish run has hit these two coins perhaps more than other coins, as Bitcoin and Ethereum have seen lows that no one could even imagine after so long of high prices. It was no fun watching Ethereum drop prices by $ 1.1k to $ 3.7k. Similarly, Bitcoin has faced bigger losses than any other coin, dropping nearly $ 15,000 in price and hitting the lowest $ 44k. Not much has changed since then as there has yet to be a bull run.
Bitcoin is currently trading at $ 47,150, which is a negligible progression from yesterday’s low of $ 45,500. Its market cap remains below the $ 900B mark, and is at $ 888,135,727,950 at the time of writing. Ethereum is currently trading slightly above yesterday’s low of $ 3,715, at $ 3,975. Its market capitalization is currently $ 470,388,282,263. Bitcoin and Ethereum trading volumes have increased 24.15% and 37.78%, respectively.
AAVE and COMP rise to the list of winners
Lower-ranking cryptocurrencies are apparently seizing the opportunity to dominate the turn-based winners list, with the winners list constantly changing by the minute. However, Aave appears to be dominating the winners list at the top, with Compound hot on his heels. Both cryptocurrencies rank slightly below the 50th spot, but they seem to be steadily rising in the market as their market caps are expanded.
Aave has the simple purpose of offering decentralized financial protocols to those who wish to lend and borrow crypto. Originally launched as ‘ETHLend’ in 2017, the token is now called AAVE after a rebrand in 2018. At the time of writing, AAVE is trading at $ 195.91 after seeing 15.66% gains. Its market capitalization has increased to $ 2,637,945,251 with its recent market value. Its trading volume is $ 522,380,930 after seeing a whopping 266.04% increase.
The compound is also a decentralized finance protocol that allows users to earn interest on their cryptocurrencies by investing in one of several pools offered by the platform. The words of the company when depositing cryptocurrencies in the group in exchange for cTokens, which can be used to recover the deposited cryptocurrency at any time. It is currently trading at $ 204.14 after gaining 9.97%.
The global cryptocurrency market appears to be in a stage of playing with major cryptocurrencies, similar to a yoyo toy. The values of major cryptocurrencies like Bitcoin, Ethereum, Binance, and Solana keep going up and down without a break or enough profit.
The bearish run has continued for fourteen days and it shows no signs of giving up its grip on the major currencies. The timing for bull runs grows increasingly desperate as major cryptocurrencies continue to slide further and further below the deck.
Disclaimer. The information provided is not commercial advice. Cryptopolitan.com assumes no responsibility for investments made based on the information provided on this page. We highly recommend independent research and / or consultation with a qualified professional before making any investment decision.
We want to give thanks to the writer of this write-up for this awesome web content
Bitcoin, Ethereum, Aave, Composite Price Analysis – Morning Forecast for December 18