2022 Starts in Red: AVAX is the Only Top 20 in Green

Yesterday’s sudden price rise to $48,000 saw bitcoin head south, and it fell below $46,000 hours later. Altcoins are also in red with more than $60 billion taken from the cryptocurrency market capital.

Bitcoin dropped $2.5K on New Years Eve

As CryptoPotato recently reported, bitcoin had dropped by $5,000 in just a few days after failing to surpass $52,000 earlier in the week. The asset fell below $47,000 for several days straight.

Yesterday, the situation quickly changed when cryptocurrency launched a sudden price boost that drove it up by more than $1500. It soared to $48,500.

It didn’t continue its upward trend, but the exact opposite. The bears came in and drove the asset down by $2,500. BTC fell below $46,000, the lowest price in more than ten days.

Bitcoin’s market capitalization is now below $900 billion, despite recovering more than $1,000 since then.

BTCUSD. Source: TradingView
lts Retrace Avalanche In Green

Yesterday saw impressive gains for alternative coins. Ethereum recovered from recent price declines and surpassed $3,800. The second-largest asset has seen a decline of 2.3% per day, which is around $100 less than it was before.

Binance Coin (-2%) and Solana (2.5%), Cardano (3.5%), Ripple (1.5%), Terra (1.5%), Polkadot (3.3%), Dogecoin (2.2%), Shiba Inu (3.3%), are some of the more notable losses.

Avalanche is the exception to the rule among the larger-cap altcoins. AVAX has risen by more than 33% in one day, and trades at $110.

SushiSwap (-9%), Uniswap (7%) and IOTA (-7%) are further declines. Algorand (6%) and Gnosis (-6%) were also affected. NEAR Protocol (-6%) was another example.

Since yesterday’s peak, the cumulative market cap for all crypto assets has fallen by more than $60 billion to just over $2.2 Trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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