Daily Crypto Update: Market Regaining Value among Traders

Following a disappointing weekend, Monday gave a sighed comfort to crypto traders. Bitcoin, Ethereum, Solana, and several other top cryptos have regained value in the past 24 hours.

Even the Fear & Greed Index has moved from “extreme fear” to “moderate fear”. According to Cointree, the index stands at 33 right now. Even the OG meme tokens, Dogecoin, and Shiba Inu registered some growth on September 9.

At the same time, new tokens such as Popcat also gained significant value. Here is a quick overview of the crypto market to help traders gauge its dynamics.

Bitcoin

BTC opened the week on a positive note, ending the day at a 3.75% growth spurt. The market leader is nearing the 57k-dollar mark, having lost 3.92% value in the past week.

The primary driver of the surge was the BTC ETFs’ decision to end their negative outflow streak on Monday. The crypto went past its resistance level of 55,300 dollars and currently, BTC price has crossed the $56K mark. Major analysts have called for investment in Bitcoin, predicting a surge in the coin in the upcoming weeks.

Ethereum

Ethereum followed Bitcoin and accrued 2.18% growth in 24 hours. Even after losing 7.07% value in the past week, ETH is trading at $2,343. 

Analysts are noting that Ethereum is facing immense sales pressure right now. The constantly negative ETF outflow is not helping its case either. The Ethereum price eyes for its next resistance level at 2,500 dollars, which it might cross within a couple of days.

Solana

In the past 24 hours, SOL managed to gain 4.23% market value. The coin is currently approaching the 134-dollar mark.

It has lost 0.89% of its value in the past week and is currently trading at 133.81 dollars. The primary reason behind Solana’s surge is the rise of SOL-based meme tokens, one of which is Popcat. On Monday, the meme token also gained 16.74% value, surprising the market.

Dogecoin

DOGE emerged from the depths of a bearish performance, scoring 7.32% growth in 24 hours. The OG meme token is trading at 0.1035 dollars, with a weekly growth rate of 3.94%.

According to analysts, DOGE is eyeing a 100% surge to hit the 0.22-dollar mark next. However, it is going to be challenging seeing the growing number of meme tokens entering the market.

Toncoin

Despite the overall dynamics, TON continues to amaze the market. The crypto managed to stay afloat when BTC, ETH, and other cryptos were down.

Now, TON has amassed a 6.76% surge in 24 hours to hit a value of 5.25 dollars. It has gained 0.08% value in the past week and is showing positive future prospects. Bulls believe that TON’s current value is underpriced, especially after a 148% surge in trading volume.

As a result, the coin’s value is predicted to surge over the following 7-10 days.