- The global cryptocurrency market capitalization is valued at $1.04 trillion.
- Stellar’s price has risen by 18% in the last seven days.
- Arweave’s trading volume has dropped significantly by 49% recently.
Significant fluctuations presently characterize the entire cryptocurrency market. This is reflected in the global cryptocurrency market capitalization, valued at $1.04 trillion, marking a marginal 0.26% rise from the previous day. CoinMarketCap data shows that the total volume of the cryptocurrency market in the last 24 hours has seen a substantial decrease of 41.47%, dropping to $16.89 billion.
Significantly, DeFi’s total volume stands at $1.78 billion, making up 10.51% of the total 24-hour volume of the crypto market. In addition, the 24-hour volume of all stablecoins has hit $15.74 billion, accounting for 93.20% of the total crypto market volume. Bitcoin’s market dominance is at 48.29%, indicating a 0.10% drop from the previous day.
Amidst the current scenario, it is uncommon to see cryptocurrency graphs showing positive growth and substantial increases. However, there are still some encouraging indicators among today’s leading performers.
Stellar (XLM)
Stellar has consistently been the leading performer for more than a week. Following a bearish month that saw a 7% drop, it has demonstrated signs of rebounding in the last seven days, marked by a significant 18% rise and a further 8% increase within a single day. This upward price movement comes after a somewhat vague statement released by the Stellar organization on social media. Despite the lack of specific information, the statement suggested a major event occurring on September 12, using phrases such as “something cool is dropping” and “change” is imminent.
In the past 24 hours, XLM’s trading volume has seen a 19% surge. A review of its daily chart shows a positive trend, with the RSI at 58, suggesting a neutral outlook.
Kucoin Token has seen a significant bearish trend in the past month, decreasing 26% over 30 days. The cryptocurrency hit a one-year low at $3.82 in early September. However, there has been a notable rebound this week, with a 6% rise and a further 4% uptick within a single day. Despite this, Kucoin’s trading volume has fallen by 19% in the last 24 hours, and it is still 86% below its all-time high, achieved two years ago. The daily chart analysis for Kucoin Token suggests a bearish outlook. At present, it is trading at $4.160.
Arweave (AR)
Arweave , like the previous two cryptocurrencies, has also experienced a bearish trend over the past month, with a decrease of 17%. However, it has shown a minor rebound in the last week and a 4% increase in the last 24 hours, fluctuating between $4.18 and $4.30. Nevertheless, Arweave’s trading volume has dropped significantly by 49%, to $2,675,105. The daily chart shows a tug-of-war between bearish and bullish traders, with the RSI at 43, suggesting it is approaching an oversold state.
