The cryptocurrency space kickstarts the week with a sideways price action as major tokens display a consolidated price action. However, mid-cap tokens are gaining traction, showing a shift of investor’s interest toward cryptos with lower valuations.
The Bitcoin price has displayed a variation of >1% over the last 24 hours, resulting in it maintaining its value around the $118,000 mark. Despite such price action it has experienced a jump of approximately 40% in its trading volume to $65.71 billion, suggesting an increase in the trading activity.
On the other hand, the altcoin leader, Ethereum price has stabilized above the $3,800 mark, showing a rising strength in the altcoin market. With a market capitalization of $460.42 billion, the ETH price has increased its market share to 11.7649%.
The XRP and Solana cryptos record a similar price trend in their respective portfolios. Considering the market sentiments and the top tokens showing signs of sideways action, the next 24 hours are important for the crypto market to understand the weekly trend.
The Optimism price however has taken over the crypto market with its impressive upward trend. The OP crypto price has added over 9% to its valuation over the last 24 hours with a trading volume of $1.11 billion, a change of +738%.
As per the latest data from CoinMarketCap, the global crypto valuation is at $3.89 trillion with an intraday trading volume of $171.61 billion, a change of +40.36%. Additionally, with a correction of less than 1%, the market shows a consolidated price trend.
Moreover, the Fear & Greed index stands strong at 67, suggesting a constant positive influence in the market. Following this, the Altcoin Season Index is now at 39, highlighting that the market is still under the influence of Bitcoin season.
In the past 24 hours, a total of 119,125 traders were liquidated from the crypto market, bringing the total liquidations to $353.13 million. Notably, the largest single liquidation order was recorded on the HTX cryptocurrency exchange on the ETH/USDT pair at a value of $2.68 million.
