Volatility continues to influence the movement of prices on crypto charts. Global market cap is down by 2.63% and trading volume, which had earlier plummeted, is now beginning to make a slight comeback. The collective market cap for the global crypto sphere is $2.26 trillion, with overall neutral sentiments at the press time. The FGI has gone with 48 points. Meme coins are on the same path. There is a dip of 2.96% in the global market cap, and trading volume is up by 0.84%.
Bitcoin slips, Ether awaits ETF approval
There is basically no other option for Ethereum. The token is unable to sustain highs. ETH price is down by 2.86% in a single day, and it is listed at $3,353.95. Speculation about a rebound following the approval of Spot Ether ETF holds its rightful place. Another way for Ethereum to gain momentum could be a positive change in economic factors and an upswing in BTC trends. Economic factors largely pertain to concerns about the resurgence of inflation.
Bitcoin is sending some worried signals. It has lost a lot of weight and is hovering just below $62,000. A more specific figure is $60,827.36, with a fall of 3.57% in the last 24 hours. A drop below $60,500 could potentially open the doors for further declines, as indicated by BTC predictions. Positively, for BTC, investors were seen adding approximately $790 million to its ETF despite the fall in prices.
Top meme coins are trembling
The last 24 hours have not been good for the top meme coins—DOGE, SHIB, and PEPE. All of them have declined significantly, especially PEPE, which is down by 5.72%. Dogecoin and Shiba Inu have lost 1.39% and 1.29%, respectively, in the same order. There is still a notable gap between SHIB and DOGE in terms of market cap, with Shiba Inu reflecting a mark of $9.9 billion and DOGE showcasing a value of $17.6 billion.
FLOKI has moved in an upward direction. It has gained 2.26% in a single day and is up by 0.60% in the last 1 hour. POKE has made gains as well. The token has surged by 0.31% in the last 24 hours and 19.79% in the last 7 days. Collective market cap is down by 2.96%, with an uptick of 0.84% in the trading volume.
Other gainers and losers
XRP has jumped by 0.30% in the last 24 hours and is exchanging hands at $0.4796. The value has also gone up by 0.97% in the last 7 days. SOL has fetched 0.23%, and TON has gained 1.93% during the same time window. ADA and TRX are two more cryptos that have banked upward trajectory.
FLOKI and PONKE could have been the only meme coins with gains if it was not for LADYS – a token with a green trade of 1.43% in the last 1 hour, 2.145 in the last 24 hours, and 0.11% in the last 7 days. DADDY has made a massive gain of 21.66%
and 17.715 in the last 24 hours and 7 days, respectively.
Conclusion
BTC and ETH are down, but the community believes that both tokens are running their natural course before marking a rebound. Meme coins are down, with only a handful leading the way. Upcoming days are likely to be important because Spot Ether ETF approval is on the horizon.
Disclaimer: This article is only a piece for reference purposes. It should not be considered investment advice and/or recommendation.
