Bitcoin stalls as markets drop, while ADA looks strong

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Crypto at a glance

All eyes were on the Bitcoin-sponsored car in the 105th Indy 500 this weekend (it finished eighth), but while the BTC-adorned Chevrolet was busy leaving the competition behind, it was a stop-start weekend in the crypto markets. What does this week have to offer?

Bitcoin price appears to be hovering between $ 35,000 and $ 40,000 and is currently trading at around $ 36,000. It fell to $ 33,000 yesterday, its lowest level in over a week. It looks like there are still cracks from the decline over the past week and concerns about the environmental damage from Bitcoin mining continue to make headlines. Will we get better news this week?

It seems that Bitcoin is still putting some strain on the markets and other leading cryptocurrencies are following suit. Ether (ETH) continues to trade at around $ 2,500, compared to highs of just under $ 3,000 a week ago. It’s still up 10 percent over the past week, but there is still a long way to go before we can talk about new all-time highs.

Cardano (ADA) was the standout performer over the weekend. Prices rose almost 20 percent in a 24-hour period yesterday. It is currently trading at around $ 1.62 and is once again the fourth largest cryptocurrency by market cap after skipping Binance Coin (BNB) again. ADA relies on its references as “more sustainable” crypto, even though it’s down one percent today. Can it hold its position now?

All feedback on Crypto AM Daily in collaboration with Luno is welcome by email at James.Bowater@cityam.com

In the markets

The bitcoin economy

* For definitions and findings, see https://bytetree.com/insights/

Total market capitalization for crypto

The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 1,523,809,822,874,

What Bitcoin did yesterday

We are closed yesterday, May 30th, 2021 at a price of $ 34,616.07from $ 35,697.61 the previous day.

Yesterday’s daily high was $ 37,234.50 and the daily low was $ 33,693.93.

Around this time last year, Bitcoin’s price closed the day at $ 9,700.41. In 2019, it closed at $ 8,319.47.

Bitcoin market capitalization

Bitcoin’s market capitalization at the time of writing is $ 666.8 billion. In that context, the market capitalization of gold is $ 12.115 trillion and Facebook is $ 932.1 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the past 24 hours was $ 30,450,258,873. High volumes can indicate that a significant price move has stronger support and is more likely to last.

volatility

Bitcoin’s price volatility over the past 30 days is 85.69 percent.

Fear and greed index

The market sentiment is today 18th.

Bitcoin’s dominance of the market

Bitcoin’s market dominance is today 43.50The lowest dominance ever recorded was 9/37 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is current 34.18. Values ​​of 70 or higher indicate that an asset is being overbought and may be prepared for a trend reversal or price correction. An RSI of 30 or less indicates an oversold or undervalued condition.

Convince your Nan: Soundbite of the day

“The world is changing, we all just have to understand that it is constantly changing and you can either be ahead of the curve or behind it, and I choose to be ahead of the curve. As someone who wants to be at the forefront of things, I will help create the trend, adopt it and see that the world is going in that direction. “

– Tom Brady, American hero

What they said yesterday

Our boy …

Tell…

It’s happening right now…

PayPal has exceeded #bitcoin transaction volume of over $ 300 million.

– Bitcoin Magazine (@BitcoinMagazine) May 30, 2021

Foreseen …

Crypto AM Editor writes

More problems for Bitcoin as environmental groups line up to reject cryptocurrencies

How are cryptocurrencies dealing with it this weekend?

Squashed Bitcoin heads into an uncertain weekend

China’s CMB International and Nervos Foundation are launching a $ 50 million blockchain fund

Cardano is working with Save the Children on a humanitarian initiative

HMRC: We don’t limit ourselves to crypto

Ethiopia is revising its education system through an IOHK blockchain partnership

Crypto AM: Longer reads

City AM Markets: What is Aave’s Decentralized Finance (DeFi)?

Crypto AM: Conversation with James Bowater

Crypto AM: Market View

Crypto AM: Technically

Crypto AM: A Trader’s View with TMG

Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher

Crypto AM: speak legally

Crypto AM: headlights

Crypto AM: Founders Series

Crypto AM: Industry voices

Crypto AM: Walk the Crypto on tiptoe with Monty Munford

Crypto AM: Definitely DeFi

Crypto AM Parliament Special

Part one of two – April 2021

Part two – April 2021

Five-part series – March 2021

Part One…

Second part…

Part three…

Part four …

Part five …

Crypto AM: Recommended Events

Bitcoin 2021

June 3-5, 2021 – Miami

https://b.tc/conference

Roundtable from Crypto AM City of London

Crypto AM DeFi & Digital Inclusion Summit

&

Crypto AM Awards 2021

September 29th and 30th, 2021

Warning notices

It’s definitely tempting to get swept up in the excitement, but please keep these careful words in mind: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. Please note, however, that the content of this article is for informational purposes only and is not intended to be investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always recommend that you seek your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 08:30 GMT.