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  • Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot – December 2 Summary

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot – December 2 Summary

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  Bitcoin

TL; DR failed

  • Bitcoin returned to the $ 56.5 thousand range after facing a downtrend.
  • Atrium and Bainance Quinn are facing a similar downturn and are seeing a decline in value.
  • The global market value of digital currencies has fallen 1.07% in the last 24 hours.

Depreciation continues in the market and affects all major tokens. The liquidation may be mainly due to changes in the market due to the new Covid-19, Omicron. The prevailing mood affected the smaller and larger tokens.

Future market trends are variable, but the effects of this type of virus are evident in the market. Although some tokens bounce back while others try to do so, the market does not appear to be fully recovering. After the resumption of the upward movement, the re-strengthening of the market will be evident from the increase in the value of the global market.

Bitcoin fell 1.04 percent

Although Bitcoin performed better than other coins, some problems are evident. After all, “markets” are people from different walks of life with different lifestyles and motivations. The mood of fear led to a devaluation that pushed the price of Bitcoin to $ 56.5 thousand at the time of writing.

The revision of priorities reduced its value by 3.61%. The current market value of Bitcoin is $ 1,068,831,925,638. The trading volume at the time of writing was $ 32,319,732,242. If we convert this volume, it will be 571184 bitcoins. The circulating supply of bitcoins is 18889393 bitcoins.

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot - Summary 1 December 2
Source: TradingView

Atrium is also reduced, reduced by 2.00%

The declining effects are evident in all major digital currencies. Like Bitcoin, Atrium is liquidating, reaching $ 4,519. The weekly performance of ETH is much better and shows an increase of 0.56%.

The market value for Atrium at the time of writing was $ 535,957,197,643. The diagram shows its efforts to improve. Atrium volume recorded in the last 24 hours was $ 20,842,359,147. This volume converted to Quinn Atrium will be 4,611,445 ETH.

The current supply of ETH in circulation is 118,582,415 ETH. Overall atrium performance is improving, as recorded by CoinMarketCap.

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot - Summary December 2
Source: TradingView

Binance Quinn reaches the $ 614 range

The Baines Coin (BNB), one of the top three coins, has seen a devaluation due to the recent liquidation trend. It was Binance Quinn and Atrium that were the first to be affected by market changes. The latest updates in the last 24 hours have experienced a 1.95% decline. Compared to the last seven days, this decline is much less than 5.68%. The price of Binance Coin may not be ready to break the resistance yet.

The current market value of Bainance is $ 102,566,613,106. The volume of Binance Coin is estimated at $ 2,306,588,402. This volume is at BNB 3,751,139. If we look at the token supply of this token, it is BNB 166,801,148, which shows the effects of the recent devaluation.

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot - Summary December 2
Source: TradingView

Cardano 8.96% increase

Cardano is one of those coins that has made positive progress during the liquidation period. The recorded price for this token was $ 1.69 at the time of writing. Weekly performance, like its 24-hour performance, shows a growth of about 1.27 percent.

Cardano’s market value is estimated at $ 56,240,632,378. The volume of this token, according to the last update in the last 24 hours, is $ 3,734,536,396. This volume is ADA 2,212,093,602 if converted to ADA.

The ADA chart is encouraging for weekly performance, and this has also affected its circulating supply, which is 33,313,246,915 ADA.

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot - Summary 4 December 2
Source: TradingView

The value of Polkadot fell 1.91%

Currently ranked 9thSeventh In this list, Polkadot also witnessed the dissolution. At the time of writing, the current price of this token is around $ 35. As can be seen in some major coins, it has depreciated by 8.46% in the last seven days.

The registered market value for Polkadot is $ 35,433,244,734. If we look at the circulating supply of this token, it is about 987,579,315 DOT. Its registered volume in the last 24 hours was $ 966,894,519. This volume becomes 26948845 if converted to DOT.

Top winner and loser

The top winner in the last 24 hours was Prince Floki V2. In the last 24 hours, it has increased by 882.86%. The current price of this token is $ 0.00000009524. The list is ranked 4082 and its turnover is $ 185996, which was recorded in the last 24 hours.

Daily Price Analysis of Bitcoin, Atrium, Binance Coin, Cardano, Polkadot - Summary December 5

Over the past 24 hours, the top loser was RPS LEAGUE, which ranked 2858 on the list. It has lost 99.53% in the last 24 hours. The record price at the time of writing was $ 0.02865.

Final Thoughts

The overall trend of the crypto market is towards liquidation, as observed in the global market value, which has decreased by 1.07% in the last 24 hours. The same is true of the three leading coins, which have also depreciated. There is no clear idea when these tokens will recover, but their flexibility in the past suggests that they may return soon.

High volatility in the crypto market means that liquidity is a common occurrence. While fluctuations cause regulators to worry about digital currencies disrupting a country’s economy, digital currencies allow investors to make significant profits compared to traditional asset classes such as stocks and commodities. In 2020, amid the outbreak of the Corona virus, bitcoin rose 160 percent year-on-year to the S&P 500 by 14 percent and gold by 22 percent.

Here’s an interesting strategy used by traders: margin trading or increasing the amount of money you have to trade by borrowing third party funds. Think of it as borrowing from a stranger to buy bitcoin or other digital currency. While borrowing to boost your business opportunities can boost any potential profit, you can also lose your invested capital just as easily, turning this type of transaction into a double-edged sword.

Positive signs can be seen in some smaller altcoins that have performed better and returned to the market. For some, the horizon may be uncertain when a general jump in the market occurs, but for someone who hopes the future will be nothing but brighter.

Crypto is no longer just a toy.

Vitalik Butrin, co-founder of Atrium