The prices of most cryptocurrencies rose for the second day in a row on Sunday, June 26, 2022, a positive sign for the psychological improvement of traders.
Although cryptocurrencies are close to registering Green Week after a sharp downturn in the market, signs of improvement related to the breakdown of the bloody downward wave seem to be faltering on the horizon, but there is still a warning from a sudden bounce.
The market value of cryptocurrencies rose 0.19% to $ 964.77 billion compared to yesterday’s level, with the volume of cash flowing in the last 24 hours being $ 48.13 billion.
The market value of digital currencies rose to more than $ 100 billion in 48 hours, from close to $ 870 billion to close to $ 970 billion.
Serious sales
Bitcoin miners have begun to sell off their stock of tokens to offset rising costs as the industry’s growth outlook declines, and small cryptocurrencies are showing little signs of recovering following the recent downturn.
Mining companies converted about 195,663 currencies into exchanges in May, the largest monthly increase since last January, according to data from coin measurements compiled by Compass Mining. Bitcoin averaged about $ 32,000 in May, and the total value of tokens sold was about $ 6.3 billion.
This means that companies can convert large amounts of currency accumulated in their digital wallet into transactions for sale.
To make it even clearer, this number does not mean that the miners will sell those large quantities of tokens because some of them will exchange currencies in other contracts and will not sell them.
Fear of dying
As a positive sign of the improvement in the psychology of traders, the Fear and Greed index data showed significant improvement in recent measurements, indicating a significant recovery in market sentiment.
The reading of the Fear and Greed index rose from 6 points, the lowest level in the index for more than two years, to 14 points.
For the second day in a row, the Fear and Greed index recorded 14-point levels, with Bitcoin trading higher at $ 20,000 and $ 21,000, respectively.
Fear and greed, according to the index’s reading, averaged 6 points last week, while the index averaged 12 points a month, words revealing that the market is drowning in extreme fear.
The price of bitcoin today
Today, Sunday, June 26, 2022, the price of Bitcoin (BTC), the world’s largest and most popular digital currency, rose 0.72% to $ 21507.5, and the market value of the world’s most popular cryptocurrency reached $ 408.99 billion.
Bitcoin has fallen 70% since it peaked at $ 69,000 last November.
Today’s cryptocurrency rates
Ethereum (ETH) was up 3.45% at $ 1,259.02.
Binance currency BNB also rose 1.47% to $ 241.40.
The ripple XRP was down 0.34% at $ 0.36907.
The Cardano was up 4.77% at $ 0.5204.
Polcat also rose 1.47% to $ 8.30.
Dogecoin DOGE / USD gained 8.39% to $ 0.073289.
Cryptocurrencies are cashless digital payment systems that are managed and traded through a decentralized online payment system that is highly protected from the control and regulation of banks.
Cryptocurrency exchange According to Crypto.com, by the end of 2021, about 300 million people had cryptocurrency.
