Bitcoin Flat, Ethereum Falls, Other Tokens Move Lower

Bitcoin Flat, Ethereum Falls, Other Tokens Move Lower

SUMMARY

Major cryptocurrencies moved lower on Monday. The global crypto market cap stood at $810.1 billion, with a volume of $21.4 billion in the past 24 hours.

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Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, traded flat at $16,849.9. Its market value stood at $324.2 billion. The trade volume was at $11.7 billion. The token has risen 0.3 percent in the past seven days.

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“Bitcoin remained under the $17,000 level over the weekend as prices continued to consolidate despite earlier gains. Over the past few days, the price of BTC has faced a rejection on both sides indicating the indecisiveness among the market participants. If BTC can close above $16,900 level, it is likely to encourage resumption of prior recovery,” said Edul Patel, CEO and Co-Founder of Mudrex.

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Ethereum | The second largest virtual currency, Ethererum or Ether, fell 0.1 percent to $1,220.9 with a market capitalisation of $149.2 billion. The trade volume of Ethereum was nearly $4 billion in the last 24 hours. The token has climbed 2.2 percent in the last seven days.

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On Ethereum, Patel said, “On the other hand, Ethereum traded sideways over the weekend. ETH has not yet accumulated enough power for a further move. It is trading in a narrow range with neither bullish nor bearish signals. If the rate fixes above the support level $1,230 we may see an upward move.”

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Dogecoin | Meme-based virtual currency, Dogecoin, fell nearly two percent on Monday. Its market value stood at $10 billion. The trade volume was at $430.2 billion.

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Shiba Inu | Shiba Inu fell 0.6 percent with a market capitalisation of $4.6 billion. The trade volume was $59.4 million in the last 24 hours.

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Solana | Solana slipped 0.6 percent to $11.4 with a market capitalisation of $4.2 billion. The trade volume of Solana was $108.4 million in the last 24 hours.

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Polygon | Polygon traded flat with a market capitalisation of $6.9 billion. The trade volume was $120.1 million in the last 24 hours.

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