Whenever it pertains to volatility between investment assets, crypto, especially altcoins like Chainlink (LINK), is out front. Although an uptrend is very important to day traders, aggregation for long-term investment may benefit from a drop.
The prices of the majority of tokens on the cryptocurrency market somewhat increased through the weekend. Although last week was not good, this week might be better.
Most altcoins‘ general 24-hour study reveals that the previous Sunday was marked by a praiseworthy pattern. The bulk of the tokens showed notable advancement in an upward trend. Among other altcoins, Chainlink (LINK) was prominent.
For the principal cryptocurrency, however, the situation is very distinct. Bitcoin (BTC) stalled at the same level during the weekend after climbing to the $19,000 range.
Positive changes were seen in the cryptocurrency market, particularly with the rise of altcoin prices. In conclusion, the overall market cap has stagnated without further declining. The capitalization is now at around $950 billion.
The native cryptocurrency takes the lead as the top-performing alternative coin. In the first few hours of current trade, the token rose by more than 5%, hovering around the $8 mark. Ethereum (ETH) is gradually recovering out of its 20% merge decline. As soon as the price of Ethereum (ETH) exceeded the $1,300 mark, it started to rise.
The price of other altcoins rose. These are the somewhat rising Shiba Inu (SHIB) and Solana (SOL). Nevertheless, notwithstanding the latest Vasil Upgrade introduction, the price of Cardano (ADA) remained stuck at a certain range. Ripple (XRP), Polkadot (DOT), Binance Coin (BNB), Tron (TRX), Dogecoin (DOGE), Polygon (MATIC), and Avalanche (AVAX) are among cryptocurrency assets that have seen a modest decline.
The performance of the flagship cryptocurrency has not exactly been stellar in the week that passed. Yet, it is noteworthy that Bitcoin (BTC) experienced a gain prior to the US Federal Reserve’s rate hike. Coin value increased from $18,300 to almost $20,000 post-hike. Its endurance was, nevertheless, transient. The price of Bitcoin (BTC) fell dramatically after the news of the 75 bps interest rate hike. The value of the main cryptocurrency dropped by about $2,000 in the hours that followed the news.
Bitcoin (BTC) fell to $18,100, a fresh low of 3 months. As the panic selling grew, the cryptocurrency market was plunged into yet another crisis. However, after a couple of days, the value of Bitcoin (BTC) started to slowly recover and dipped to the $19,000 mark. Then, during the session between September 25 and 26, Bitcoin (BTC) increased to a high of $19,500 as the market saw more bulls.