The global cryptocurrency market has started to pick up after US data showed signs of the Federal Reserve slowing down. Crypto analytics platform Santiment says traders are losing interest in Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA). However, interest in the two altcoin projects is growing.
Traders’ interest shifted from BTC, BNB and ADA to two altcoin projects
As you can follow from Kriptokoin.com, there has been a revival in the market after the US macroeconomic data. According to crypto market monitoring site CoinMarketCap, the global crypto market cap has started to rise in the last 24 hours. At press time, the global crypto market cap has exceeded $830 billion. Meanwhile, the dominance of the leading cryptocurrency Bitcoin (BTC) in the market has also increased in the last 24 hours. Bitcoin market dominance currently stands at 39.60%.
Santiment shared today that the market caps of all cryptocurrencies in the cryptocurrency market have “bounced too much in independent directions.” The crypto analytics platform said there is an “enthusiastic crowd feeling” for Ripple (XRP) and Ethereum (ETH) at the moment. He also noted that traders are less interested in Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA). Santiment noted that historically, bearish altcoin projects have performed better on average.
How is the price performance of cryptocurrencies?
Meanwhile, the XRP price has fallen slightly over the past 24 hours, while the Ethereum price has risen. At press time, XRP was trading at $0.3417 after a 0.70% drop in price. The price of ETH, on the other hand, is at $1,270 after increasing 0.50% in the last 24 hours.
Meanwhile, the prices of Bitcoin (BTC), Binance Coin (BNB), and Cardano (ADA) rose. At the time of writing, the price of the leading crypto Bitcoin (BTC) is up 0.20%, pushing its price to $16,977. BNB is trading at $270.15 after a significant 3.3% increase. The price of ADA has seen a serious increase of 5.44% in the last 24 hours. ADA raised its price to $0.2915 at the time of writing.
BTC price daily chart / Source: CoinMarketCapCurrently, the price of BTC is trading above the 9-day EMA line. However, it is struggling to overcome the $16,926.20 resistance level.
