Markets Slightly Dip as Serum and Near Dominate
Monday’s trading session has started in a relatively slow environment, with the global market cap recording a decrease of 1.84% in a day of trading to take it to $1.17T as of press time. As the market session seems to have taken a slow momentum, Bitcoin (BTC) started the week with a slow momentum as the asset now sees a 1.5% drop within a day’s trade.
However, the asset’s trading volume has increased by 1.5% as whale activity on the BTC network steadily increases. Volatility on the market seems to be increasing as the Bollinger Bands moving now move far away from each other.
However, the relative strength indicator is high in the overbought region, displaying the dominance bulls have established on the network. The MACD indicator also moves above the positive region as bulls push for the $31K level. BTC was trading at $30,404 as of press time.
Altcoin analysis
Ethereum has taken a bearish momentum as it faces a mild correction, which has returned the asset to the $1.8K level. Trading at $1,896 as of press time, ETH had recorded a 1.3% decrease within 24 hours, as the weekly loss stood at 11%.
However, despite the bear market NEAR Protocol (NEAR) has seen a 7.6% increase within 24 hours as the asset now sits on a 26% weekly gain. Near has a current market cap of $1,431,054,625 as the trading volume now stands at $110,220,666.
Altcoins generally have a bad day, with ADA, DOGE, SOL, and Poloygon decreasing by about 2% within the same period as bears control today’s market session.
Serum (SRM) is making massive gains as an asset and trades with an 18% increase within a day of trading, as its price now stands at $0.1253. Serum has a current market cap of 32.99M, as the trading volume now stands at 81.51M.
Pancake Swap (CAKE) also has a good day despite the bear market as the asset sits on gains of 5.8% within 24 hours to take its price to $1.56, as the weekly gain now stands at 11.62. The market cap currently stands at $334,237,787, and the trading volume now stands at $28,047,626.
