- Bitcoin lingers around $54,200 as the leading crypto persistently stays red.
- Ethereum above $4,000, other altcoins continue to suffer
- Terra upsurges by 8.71% to touch $47.50.
- GALA reports an impressive increase in value.
From all the bad news the cryptocurrency market has given to all of us these past couple of days, investors continue to hope for the price of major coins like Bitcoin and (BTC) and Ethereum (ETH) to rise high soon.
The fall in the market value of most dominant tokens has got investors on alert. While investors had been previously waiting impatiently for the price of BTC to reach $60,000, now seeing that the market remains in red, it would be safe to say that we might have to wait much longer to see that.
However, with over 14,000 different cryptocurrencies, there is a lot more to the cryptocurrency market. The top gainers in the crypto market for today are less dominant coins like ARC Governance (ARCX) and Block Farm Club (BFC).
Will Bitcoin continue to suffer?
All eyes are on Bitcoin as it remains a trendsetter and the leader of the crypto market. Not so long ago, BTC reached a new all-time high, and the rest of the crypto market had also formed a bullish outlook. However, this last week, the market has been in the red as the price of Bitcoin continued to fall, reaching as low as $54,200.
After a 1.14% drop in the market price overnight, Bitcoin continued to disappoint investors who hoped that the crypto market would gain more stability and composure. While BTC is still the top contender, its market cap has dropped to $1.02T, and the trading volume per 24 hours at the time of writing is $24.6B.
Ethereum drops back to $4,100, leaving investors doubtful
The runner-up in the crypto race, Ethereum, had been performing well some time ago. The investors had been hoping for the price to skyrocket and go as high as $5,000. Unfortunately, things have taken a turn for the worse as many top performers in the crypto market continue to see red.
After the price value of ETH went as low as $3,900 a couple of days ago, the price climbed back to $4,300 yesterday. However, after a 1.39% drop in its price value in the last 24 hours, it now sits around $4,100. While most see ETH in a position of rest, remember that you can never know for sure the next move of any coin in this market.
As the graph below indicates, ETH can be seen as a much safer or stable investment because the price value has stayed over $4,000 for quite some time now. With a trading volume per 24 hours of $13B, the margin of a bear trend is relatively low for ETH in the crypto market. Ethereum is expected to do well but the same can’t be said for other altcoins.
Gala and Terra to become the top gainers?
Even during such uncertainty in the crypto market, Gala (GALA) and Terra (LUNA) continue to perform well with significant value increases. With a bullish trend that could continue, Gala and Terra might just become the top gainers in the world of cryptocurrencies.
Terra (LUNA) is already the 13th largest cryptocurrency in the world by market capitalization. The price value of LUNA surged to $47.50 with an 8.71% increase in value over the last 24 hours. With a $1.5B trading volume per 24 hours combined with these massive gains in its price value, Terra (LUNA) continues to receive attention from investors worldwide.
While Gala (GALA) only comes 41st in market capitalization, the price increase has brought the cryptocurrency into the spotlight over the last few days. The price of GALA further surged by 3.12% over the last 24 hours; it now sits at $0.66. It’s also worth mentioning that there has been a 65% increase in its value over the last seven days.
Both GALA and LUNA continue to move up in the crypto market, making huge leaps in trading volumes and price values. It wouldn’t be wrong to say that Gala and Terra are on their way to becoming the top performers in the crypto world.
The crypto market continues to surprise us every day. While some investors would say that seeing red charts everywhere has been disappointing, top performers and gainers in the market continue to stir up excitement.
The ups and downs in the market can confuse investors. However, the next couple of days could prove to be helpful in understanding where the crypto market is headed.