Bitcoin, Ethereum, BNB Top Coins Market Cap Lose $200 Billion – What’s Next for Crypto Market?
In this article, we’ll look at the price movements of Bitcoin, BNB, Ethereum, Cosmos, and EverGrow Coin
The cryptocurrency industry has fallen below a $1.8 trillion market cap for the third time this year. We’ve seen three bullish cycles – but the last failed to push over the $2 trillion market cap. In the week following Russia’s invasion of Ukraine the crypto industry regained $200 billion in the space of a day, but we’re now back where we were a week ago.
Nearly all major cryptocurrencies are down on their seven-day averages. Polkadot’s DOT is posting the most significant losses of 20 top cryptos, with a 6.3% decline over the last week according to CoinMarketCap. Avalanche’s AVAX is down 5.7%, while Ethereum’s ETH is down 4.6%.
Not all crypto tokens are in decline, however, in this article, we’ll look at the price movements of Bitcoin, BNB, Terra, Cosmos, and EverGrow Coin.
As of March 6, Bitcoin is trading at the same price as 7 days ago – around $39,000. This appears to be a key resistance level for Bitcoin after prices rose to the $44,000 mark between March 1-3. Bitcoin’s price has failed to go past $45,000 since the very beginning of January. But Bitcoin’s most recent bullish cycle did not fall as low as at the end of January when it fell to $33,000.
EverGrow Coin (EGC)
EverGrow Coin is another crypto showing 2% growth over the past 24 hours. EverGrow Coin is not a top 20 crypto yet, but its growth coincides with announcements of new key developments. Among these is the rollout of the world’s first crypto-integrated social media platform, Crator, due to launch this month. Evergrow Coin introduced unique tokenomics which rewards 8% from every transaction and has already distributed $35 million in rewards EverGrow Coin is also receiving attention for its NFT lending capabilities, which will allow NFT owners to borrow stablecoins with their NFTs as collateral – another crypto first. EverGrow Coin is currently trading at $0.0000005122.
Terra’s LUNA token has been the most bullish of all top 20 cryptos in the past week. Its seven-day price gains hit over 80% at the beginning of March, but are currently showing 9% growth over the last week as of March 6. Terra’s ecosystem incentivizes token holders to burn LUNA when demand for its stablecoin TerraUSD is high. UST’s 24-hour trading volume grew 100% on the same day Russia invaded Ukraine (Feb 24) and is still higher than before the crisis in eastern Europe. LUNA is currently trading at $83.
Atom also has shown strong growth in March 2022 following announcements of a new integration with Polkadot’s entire blockchain. Cosmos is a project aiming to interconnect the world’s blockchains to increase opportunities and drive down costs and environmental impacts. ATOM has fallen back to 20th place in the crypto rankings on CoinMarketCap (it overtook Dai for a few days) though is showing 0.2% growth over the past week. ATOM is currently trading at $28.9.
Share This Article
Do the sharing thingy
More info about author