At the start of the new trading week, the crypto market is once again unstable. After last week’s flash crash, most digital assets recovered rapidly. But at the start of a new week, the global crypto market starts with considerable losses. The market cap of all digital currencies worldwide fell again by around 4%. This means that the cryptos are only trading insignificantly above the $ 2 trillion mark. But what’s next with cryptocurrencies? Will the big correction in Bitcoin, Ethereum, Cardano and Co. continue?
Crypto Crash: Entire market with losses
Certainly the exceptions confirm the rule. Nevertheless, the entire crypto market is rather weak. Only some coins are green today. In the top 10 by market capitalization, it is currently only the crypto currency Polkadot, which is around 6% up. All other top 10 cryptos are unchanged or largely in the red. Things are looking really bad at Solana. The innovative blockchain solution with its Coin SOL is now over 10% in the red.
Most valuable cryptocurrencies in the red
The most valuable cryptocurrencies in the world have a particularly drastic effect on the entire crypto market. After all, the two largest cryptos Bitcoin and Ethereum alone account for over half of the total market cap of the crypto market. Bitcoin is around 2.5% in the red, with Ethereum it is over 5%. The losses are even greater for the Cardano cryptocurrency, which has now completed the top 3 due to a furious rally in recent weeks and has now reached a market capitalization of over 75 billion US dollars.
Only a few coins as a winner
Nevertheless, there are also some cryptos that currently score with good momentum and can convince with good performance in a weak overall market. The altcoins Tezos, Hedera Hashgraph and Cosmos, for example, are up over 10%. These are all smaller coins with a market cap between 4 and 7.5 billion US dollars. But in addition to the risks that are certainly there, there are also immense opportunities for above-average performance in this segment.
Invest in cryptocurrencies now?
The crypto market is currently undecided. After things went excellently at the beginning of the year, difficult weeks followed for digital currencies. The news flow was extremely negative, with many coins losing a considerable part of their value. But in the last few weeks the tide has turned. Positive news about digital currencies increased again, and crypto rates rose. There is currently a competitive race between bulls and bears in the crypto market. Over the next few days and weeks, there should be increasing signs of what the performance looks like for the fourth quarter.
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