Top Three Cryptocurrencies to Watch This Week (Sep 4)
Most cryptocurrencies are stagnant or seeing very small volatility. As a result, the crypto market has not recorded any significant change in value. Nonetheless, the sector under consideration saw an almost 11% increase in trading volume.
This is an indication that the market is returning to its previous trend of seeing very small changes in worth. However, this was not the case during the previous intraweek session.
The global cryptocurrency market cap was at $1.04 trillion at the start of the period but enjoyed small increases that saw it peak at $1.1 trillion. Afterward, it retraced to a low of $1.02 trillion and closed a little above the mark.
With the new week under consideration, there have been no huge moves from major assets. However, there are fundamentals working already.
A few hours ago, Visa announced that it would start the transfer of USDC over the Solana network. Many traders received this news as a sign of more good will. As a result, the coin is seeing more price increases.
There are other assets as well. Let’s see how they may perform in the coming days.
Top Three Cryptocurrencies to Watch
1. Bitcoin (BTC)
The past week was a price rollercoaster as the apex coin broke some key levels but failed to gain stability above them. This resulted in the asset failing to register any significant increase in the end.
A closer look at what happened during this period showed that Bitcoin had one of the slowest start to the seven-day session. Nonetheless, it picked up momentum on Tuesday as it registered its biggest gain in more than three months. It started the day at $26,103 and enjoyed a significant spike in buying volume that saw an increase in worth. To this effect, the coin attempted the $28k resistance. It broke through an peaked at $28,142.
However, it failed to hold on to the mark as it retraced and closed at $27,700. Aside from losing the $28k barrier, BTC gained more than 6% during that intraday session.
Another significant change in price happened on Thursday. This time, it was negative as the asset lost a huge fraction of its value. It all started after it kicked off trading at $27,300 and tried flipping the $26k support. It succeeded and dropped to a low of $25,683. Before the intraday session closed, the top coin tried to regain this critical level but failed as it registered losses of more than 5%.
Following these major events, the last three days of the week were marked by little or no changes in price.
With a focus on the new week, BTC is showing no huge signs of an impending massive surge.