Right from the beginning of December 2021, the prices of all major cryptocurrencies had experienced a plunge. Even now, the situation of the major cryptocurrencies is not very ideal but they seem to be making a comeback.
As of now, the major cryptocurrencies are growing in price, which is a positive sign for the rest of the crypto-verse. The data from CoinMarketCap shows that in the past 24-hours, all major cryptocurrencies have entered the green zone.
According to many analysts, the recent dip wasn’t going to be a long one for the crypto-verse, instead of a brief one. Therefore, the sentiments of the bulls about major cryptocurrencies are still not as negative as they may seem.
As of now, the largest cryptocurrency is Bitcoin (BTC), with a valuation worth $922,246,088,155, having experienced a 1.14% surge in the past 24-hours. Even the price of BTC has surged by 1.14%, coming up to $48,814.65. As for the trading volume, BTC is currently sitting at a 24-hour trading volume worth $36,024,845,867, after experiencing a 16.00% surge.
This means that the bulls are currently purchasing Bitcoin in order to help grow the price of BTC further. They are aiming to push BTC’s price across the $50k price, which is currently acting as its strong resistance point. This is where the bulls and bears have to compete with each other to take the lead.
Then it is Ethereum (ETH) after Bitcoin that is also experiencing an uptrend but it is four times better than BTC. The data shows that as of now, ETH’s price and valuation are up by 4.06%, where its price is $4,013.44 and its valuation is over $476.5 billion. The trading volume for ETH at present is $26,392,000,338, following a 28.12% surge. This means that the positive sentiments of the ETH investors are much higher than the BTC investors.
The rise in the trading volume for ETH in the past 24-hours is the depiction of increased investments in digital assets. The investors seem to be accumulating on ETH now, which has caused the price of ETH to rise significantly. At the time of writing, ETH’s price is constantly growing higher, and soon, the bulls may hit and cross the $4,100 per ETH price.
Then there is Solana (SOL), which seems to be growing at a much higher rate than the former cryptocurrencies. The data shows that in the past 24-hours, SOL’s price has surged by 10.76%, and as a result, its price is now at $177.31. The trading volume growth being demonstrated by SOL is much higher than it was for BTC and ETH. In the past 24-hours, SOL’s trading volume has grown by 60.22%, coming up to $3,759,773,360.
The data suggest that SOL may be on a much better track than BTC and ETH in terms of price growth. The positive growth of SOL shows that the bulls may be aiming to elevate SOL’s price up to $190 in the upcoming days.
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