Bitcoin and Ethereum ease slightly as crypto's low volatility continues
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Loading... - Liisa Turunen
- 07 Oct 2022
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The continued lack of consumer confidence was once again reinforced by the minuscule price movements across the cryptocurrency space.
Bitcoin retreated 0.4% to US$20,238 on Thursday morning but was ever-so-slightly outpaced in its decline by its biggest rival by market capitalisation, Ethereum, which eased 0.5% to US$1,368.
There is hardly any appetite for risk amongst investors, especially for unsafe assets like crypto, largely due to the economic downturn and recession fears.
Low market volatility, which has been a theme in recent weeks, was still apparent on Thursday, with none of the 25 most popular coins moving by more than one percentage point.
Ninety-six of the leading 100 coins were changing hands in negative territory, but for the vast majority, the dips were negligent in the long-term picture.
XRP and NEAR Protocol were the only fallers of the so-called ‘top 30’ to give up more than one percentage point, edging 1.1% and 1.2% lower respectively.
The biggest ‘loser’ of Thursday’s early morning trade was Lido DAO, which changed hands 1.5% lower.
For the largest price change of the ‘top 100,’ 1.5% is a very insignificant movement compared with historic trends, which often produce double-digit alterations each day.
Bucking the trend, BitTorrent-New advanced the most but this was still by a mere 0.1% as it aims to break into the ‘top 50’.
Both the leading cryptos were more than 70% below their all-time highs seen in the ‘crypto summer’ of the latter months of 2021. Read More...
