Thursday and Friday was the cryptocurrency The market is growing just as fast again, but this weekend it will cool down for a while. Total market cap came in at $2.19 trillion last night, dropping to $2.14 trillion last night and back to $2.17 trillion this morning.
Despite the fact that many cryptos cool down for a while, the prices seem new higher lows to settle in to prepare for further increases. The market still looks bullish and a decline in supply continues to be a driving force for prices.
Supply held by Long-Term Bitcoin Holders has reached new all-time highs.
These entities now hold 12,674,515 BTC.
That’s 67% of supply, 84% when adjusting for lost coins. pic.twitter.com/M9SHIxCO3Y— Will Clemente (@WClementeIII) August 21, 2021
Bitcoin (BTC)
Bitcoin (BTC) made another sharp move down yesterday after the price touched $49,250. Bitcoin briefly fell below $48,000, then made a big bounce up to $49,500. Later in the afternoon, bitcoin established a new high around $49,675, but has since fallen back slightly. Bitcoin dropped below USD 49,000 several times last night, but the price seems to be holding here this morning for the time being. Whether we’ll see a $50,000 test today remains to be seen, but it won’t be long anyway. There seems to be a lot of confidence in the $50,000:
August #bitcoin options expiry next week, $50k is the largest strike open on the upside pic.twitter.com/GjgUauBPRk
— skew (@skewdotcom) August 20, 2021
Altcoins
Ethereum (ETH) looks a little less stable this weekend. The ether price also made a sharp move down from $3,300 to $3,225 yesterday and then bounced up to a high of $3,310. However, ether dropped to $3,200 overnight, the price appears to be finding support around $3,250 this morning, but whether it will hold remains to be seen.
Cardano (ADA) keeps going strong. The ADA rate corrected, after a new all-time high (ATH) from $2.58 on Friday, back to $2.40 last night. ADA was up 10% last night and reached $2.64 this morning, another new ATH this morning. There may be even more to come. ADA is up 120% this month.
Solana (SOL) rose to a new ATH of $81.25 on Friday night, but fell sharply again on Saturday and the SOL price is also in the minus today. SOL seems to have found support last night around $74 and is rising again this morning started. SOL is even 180% in the plus this month.
In addition, we see a number of other prices correcting downwards that rose sharply last week. Terra is 6% down today, but still 280% in plus this month. XDC (XDC) is down 7.5%, but is still up 140% from a month ago, and avalanche (AVX) is down 11%, but is even up 300% this month.
Some crypto prices are also turning green today. Filecoin (FIL) and harmony (ONE) are up 7.5%, non-fungible token (NFT) as enjin (ENJ) and chiliz (CHZ) increase by 8.5%. Thorchain (RUNE) and cosmos (ATOM) are even 15% in the plus. Near (NEAR) is up the fastest and is 27% in the plus today and close to 200% this month.
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