XRP hits record-high market cap as Cardano, Chainlink, XYO and Jasmy surge
IT SEEMS each cryptocurrency is enjoying its moment in the spotlight.
This morning, Chainlink (LINK) surged 28% over the past 24 hours, with The Sandbox (SAND) and Fantom (FTM) following suit, both delivering over 20% returns to investors overnight.
As altcoins rally, Bitcoin and Ethereum (ETH) appear to be taking a breather.
Bitcoin, however, had another burst of activity during US trading hours, hitting a daily high of $97,330 before retreating to around $95,000 - a pattern that has played out repeatedly over the past few days.
This cooling trend among number one and two on the market-cap list is reflected in the Fear and Greed Index, which has eased from ‘Extreme Greed’ to ‘Greed’, marking its first slip out of ‘Extreme Greed’ since November 10.
What catalyst will push sentiment back into the ‘Extreme Greed’ zone?
Meanwhile, XRP continues its climb, now overtaking Solana and Tether to secure the third spot on the market-cap leaderboard.
Despite this momentum, XRP remains below its 2018 all-time high of $3.30, trading around $2.60 at the time of writing.
With volatility persisting across markets, investors are keeping a close eye on which cryptocurrency will lead the next charge.
In the Markets
🌦️The Data...
Total crypto market cap
$3.45 trillion (+0.86%)
What Bitcoin did yesterday
Daily high $97,338 | Daily low $94,497
Bitcoin market capitalisation
$1.89 trillion (-0.61%)
Bitcoin 24-hour trading volume
$67.4 billion (+48%)
SP500
+0.24%
Fear and Greed Index
Source: Coinmarketcap
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin Relative Strength Index (RSI)
46
Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.
Post Script…
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
