The bearish trend in the cryptocurrency market continues today with difficulty finding a balance. The overall value of the crypto market to date is estimated at $918 billion. This is far from the 959 billion dollars recorded over the past few days.
It must be recognized that this unfavorable climate can be explained by several factors. One of the most important is the announcement of an interest rate hike by the US Federal Reserve. This news plunged investors into a climate of mistrust, prompting them to be more cautious in investing.
However, several analysts believe that the market will recover in the more or less near future. Certain cryptocurrencies are going to set the tone and should therefore be followed ready when the recovery takes place. Here are our top 10 crypto trends of the day.
Top Crypto Trending Today
Prosper started an upward curve today and is trading at $1.10. Its price has climbed 28.68% in the last 24 hours. However, PROS remains on a -28.83% drop in the market over the past 7 days.
Its increase on the latest is due to a rise in trading volume as well as market capitalization which is estimated at $21,085,479.
The crypto is booming and showing strong fundamentals. However, it has been posting risky framing segments for the past few days. It may not be the crypto that will exhibit in the next few days but may prove profitable in the long run.
The BTC token is trading at $19,159.15 today. This represents an increase of 1.54% over the last 24 hours. Over the last 7 days, the trend remains down 4.79% and in one month, its price has fallen by more than 10%.
Bitcoin is a far cry from where it was last year. Like the market as a whole, it has not resisted the macroeconomic events of recent months. The current energy crisis does not help to fix things.
However, Bitcoin is the number 1 cryptocurrency in the market. The play is used to holding its own, which is no doubt about its strong comeback.
XRP is trading at $0.4278 today. It is one of the few cryptos that has shown an uptrend since the market crash.
Over the past 24 hours, its price has jumped 6.73%. In one week, it increased by 26.23% and 26.34% over one month.
Ripple is holding up well in the market surely because of its institutional side. Still, this piece still has room to see its price climb.
The case between XRP and the SEC is about to end with an outcome that is bound to affect the future of crypto. Changes are therefore expected on its course.
ETH’s decline continues as the coin is unable to come out of its bad period for the moment. Its price at $1,288 has fallen 2.86% in the past 24 hours. In one week, this is already a drop of 19.51% and a drop of 19.24% over the last month.
The transition to a Proof of Stake protocol has not yet borne fruit. However, analysts remain positive about an upcoming rebound from ETH.
The fact that its token is now deflationary is going to play a big role in ETH’s rally. It is a token of the future.
The CAKE token is priced at $4.30, which is up 0.87% over the past 24 hours. The coin remains on a good momentum of 4.99% in one week. Over a month, PancakeSwap gained a value of 10.10%.
This increase is explained by positive indicators. The token has a rising 30-day moving average and RSI.
PancakeSwap is expected to gain new users as the swap will be present on Opera’s upcoming web3 browser.
ETHW has fallen 2.83% over the past 24 hours. It is trading at $5.89 which represents a drop of 81.01% in one week and 88.24% over 30 days.
The Ethereum fork has struggled to find its footing since it was listed on exchanges. He experienced some technical problems and attacks.
However, its RSI suggests that it is capable of regaining an upward curve. In addition, investors continue to be interested in this token.
Ethereum Classic (ETC)
ETC jumped 1.38% over the past 24 hours. At $28.72, its price remains down over the last 7 days at 22.75% and 13.79% over the last month.
The ETC team did not want to follow the merger initiated by ETH. The trend of its curve, however, shows that the token is also experiencing a decline in the market.
However, its price could go up given that it is one of the few proof-of-work coins on the market. Demand could therefore explode in the long term.
LUNA is currently trading at a price of $2.70. This represents an increase of 3.04% in 24 hours but a decrease of 9.23% in one week. Over 30 days, the token is on the upside of 62.15%.
The Terra project is going through difficult times. Rumors have surfaced that the crypto founder has been on the loose for the past few days, which has impacted its price.
However, Do Kwon came out to reassure his community. He confided on Twitter that he was not fleeing justice and promises to shed light on this case.
Shiba Inu (SHIB)
The SHIB has climbed 3.24% over the past 24 hours. Its token is trading at $0.00001079, which, however, represents a drop of 10.28% in one week and 17.32% in one month.
On the technical side, an analysis of its RSI shows that the token is slightly oversold. It should therefore be able to start rising again in the coming days.
Improvements to the Shiba Inu’s ecosystem show its vibrancy. Recently, the community welcomed the blockchain-based card game Shiba Eternity. It is a step towards the optimization of crypto which wants to get rid of the image of the simple token meme.
Chain link (LINK)
The LINK token is at $7.02 in the market today. This is an increase of 0.93% compared to the previous day. The price still remains down over the last week at -3.65% and -0.14% in 30 days.
Chainlink has managed to hold its own in the market despite two massive selloffs in June and August.
Recently, investors decided to grab LINK tokens worth the equivalent of $93.15 million. It can be predicted that the price of crypto will increase in the future.
We would like to say thanks to the author of this short article for this outstanding content
Top crypto trend of the day September 22: PROS, BTC, XRP, ETH, CAKE, ETHw, ETC, LUNA, SHIB, LINK
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