After US data showed signs that the Federal Reserve will slow down, the global cryptocurrency market started to increase. Crypto analytics platform Santiment says traders are losing interest in Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA). However, interest in the two altcoin projects is growing.
Traders’ interest shifted from BTC, BNB and ADA to two altcoin projects
There was a revival in the market after the US macroeconomic information. According to the crypto market monitoring site CoinMarketCap, the global crypto market price has started to increase in the last 24 hours. At press time, the cost of the global crypto market has exceeded $830 billion. In the middle, the dominance of the leading cryptocurrency Bitcoin (BTC) has also increased in the last 24 hours. Bitcoin market dominance currently stands at 39.60%.
Santiment shared today that the market prices of all cryptocurrencies in the cryptocurrency market have “bounced too much in independent directions.” The crypto analytics platform said there is an “enthusiastic crowd feeling” for Ripple (XRP) and Ethereum (ETH) at the moment. He also noted that traders are less interested in Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA). Santiment noted that historically, bearish altcoin projects have performed more smoothly on average.
How is the price performance of cryptocurrencies?
In this middle, the price of XRP has fallen slightly over the past 24 hours, while the price of Ethereum has risen. At press time, XRP was trading at $0.3417 following a 0.70% drop in price. The price of ETH, on the other hand, is at $1,270 after increasing 0.50% in the last 24 hours.
In the middle, the prices of Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA) rose. At the time of writing, the price of the leading crypto Bitcoin (BTC) is up 0.20%, pushing its price to $16,977. BNB trades at $270.15 after a valuable 3.3% increase. The price of ADA has seen a significant increase of 5.44% in the last 24 hours. ADA raised its price to $0.2915 at the time of writing.
Currently, the price of BTC is trading above the 9-day EMA line. However, it is struggling to overcome the $16,926.20 resistance level.
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