Altcoins Feel The Pinch As Crypto Market Sentiment Sours
The crypto market slipped into a risk-off mood over the weekend as the Crypto Fear & Greed Index fell to 44, moving from Neutral into Fear. Related Reading: MemeCore Explodes 3,800% For ATH — But Is A Collapse Around The Corner? Traders Shift Toward Large Caps Santiment said a heavy focus on large-caps can signal more cautious behavior among traders. Based on reports, that pattern was visible on Saturday when market activity narrowed and attention tightened around the biggest tokens. According to data firm Santiment, traders are pulling money out of obscure altcoins and putting it back....
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With contrasting events in the industry, crypto investment products have witnessed a continuous outflow for the sixth week. Some altcoins demonstrate resilience in this trend, defying the broader market sentiment. Dissecting The Crypto Outflow Trend Crypto funds have witnessed a net outflow of $9 million in the past week, taking the total to roughly $464 million over the last ten weeks, according to Coinshares’ latest digital asset fund flow weekly report. Related Reading: Crypto Fund Flows: Millions Exit Bitcoin, But These Three Coins Hold Their Ground Relevant digital asset....
Many investors expressed worries about the crypto market corrections during this cycle. Bitcoin’s price drop has dragged altcoins with them, and, as a result, a more pessimistic sentiment has started to brew among some sectors of the crypto community. Analysts and traders have reassured investors that the market fluctuations are a normal part of the journey. Some urge the community to look at the bigger picture, as altcoins remain above levels not seen in years. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment “Down”? Renowned crypto analyst Altcoin Sherpa....
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....
In this over-populated cryptocurrency sector, only few altcoins manage to grab the users' attention. Throughout this article, we will spot the light on one of these few newbies that are promising a stable and steady investment option for small-time investors. Meet CLAM, a new cryptocurrency which has been steadily rising ever since it was lauched. CLAM/BTC CHART. As we can conclude from the above chart, CLAM's market cap is displaying uninterruptible flux of investments since the day it entered trading. It's market cap, which initiated from a mere $816,447, today has peaked to over $1....
How many of these altcoins will eventually go to zero? When visiting Coin Market Cap, you can get a clear picture of the current cryptocurrency market. Bitcoin is still the clear frontrunner in this new industry, but there are now more than 100 cryptocurrencies listed on the website for cryptocurrency market capitalizations. It's no secret that I don't see a bright future for most of the altcoins currently on the market, although there are a few coins that actually do bring something new to the table. As I lookover most of the altcoins listed on coinmarketcap.com, I can't help but feel....