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.
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.
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 …
It’s happening right now…
PayPal has exceeded #bitcoin transaction volume of over $ 300 million.
– Bitcoin Magazine (@BitcoinMagazine) May 30, 2021
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 four …
Part five …
Crypto AM: Recommended Events
June 3-5, 2021 – Miami
Roundtable from Crypto AM City of London
Crypto AM DeFi & Digital Inclusion Summit
Crypto AM Awards 2021
September 29th and 30th, 2021
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.