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Market Analysis: It’s Time To Buy Crypto

Market Analysis- It’s Time To Buy Crypto

Interest in digital assets is at an all-time high. Investors are divesting from traditional assets such as property and stocks because of increasing volatility in financial markets that have marginally reduced returns on investments. Scott Melker, popularly known as the ‘Wolf of All Street’, is leading the new way of trading by embracing crypto hodling for wealth maximization.

As of 6:00 GMT, trends indicate that the current crypto market is a buyer’s market. A Coinmarket Cap review shows that the bearish cycle has been consistent in the last 7 days. This scenario presents an ideal investment opportunity for new investors who want to join the crypto community.

How The Top Coins Performed In The Last 7 Days

In the top 10 digital assets by market capitalization, Terra (LUNA) has plunged by 22.72% in the last 7 days. Cardano (ADA) and Solano (SOL) also shed over 20% of their coin value, making it easier for investors to acquire long-sell tokens.

Avalanche (AVAX), shed 19.90% compared to XRP’s 13.97%. Bitcoin (BTC) and Ethereum (ETH) each had a 14% drop in value, with Binance (BNB) shedding 10% of its value.

USD Coin (USDC) and Tether (USDT) had a marginal growth of 0.04% and 0.01% in the same period. The digital assets are backed by the US dollar, which hedges them against volatility risks.

Bitcoin Dominance Is Still Prevalent

BTC has a market capitalization of $763 million and the aggregate market cap is $1.8 billion. Ethereum (ETH) has a market dominance of close to 20% showing that investors’ sentiments towards a few coins are positive.

Nonetheless, there are Crypto market fund managers like Off the Chain leading the space in encouraging investors to consider other tokens such as XRP and DOGE, which are more stable compared to the popular crypto-BTC.

Over 18,835 cryptos are being traded in over 300 onshore and offshore crypto exchanges. Additionally, investors can acquire cryptos through other means, such as accepting Crypto payments and getting Crypto for free by participating in airlifts and Blockchain startups launchings.

The Motive For Crypto Trading Is Hodling

Although more businesses are accepting Crypto payments. The circulating supply of Crypto is still low, which is an indicator that most investors hold their coins as a store of wealth and for speculation.

For instance, BTC supply on a 24-hour window is 875,000 against an aggregate circulating supply of 19 million tokens. Ethereum (ETH) has a day-on-day volume of 7.5 million against an available circulating supply of 120 million.

The only exception is USDT which has a daily volume of 74 billion against a circulating supply of 82 million digital assets.

The high holding rate shows that Crypto traders are positive about the long-term value appreciation of their assets. Since positive sentiments are the foundation of future growth, new investors should take the opportunity to acquire and hold futuristic Cryptocurrencies in a bearish market.

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