The crypto market started the new week with low volatility, just like the past few weeks. The leading cryptocurrency Bitcoin (BTC) began trading around $29,300 with its recent price movements, while Ethereum (ETH) dropped to $1,845. Santiment evaluated the latest situation in the crypto market by highlighting low volatility and a decrease in trading volumes in a report published last weekend.
Market Starts the Week with Low Volatility
Volatility in the crypto market remained at low levels on the first day of the new week. The leading cryptocurrency Bitcoin (BTC) traded around $29,300 with its recent price movements, while Ethereum (ETH) started the week at $1,845. According to CoinMarketCap (CMC) data for the past week, both cryptocurrencies recorded an average increase of about 1%.
Most high market cap cryptocurrencies such as BNB, XRP, Cardano (ADA), and Solana (SOL) did not experience significant value losses or gains in the last 24 hours. However, despite the low volatility in the crypto market, Shiba Inu (SHIB), Pepe (PEPE), Hedera (HBAR), and ApeCoin saw high percentage increases.
Crypto analysis platform Santiment evaluated the latest situation in the crypto market in a report published last weekend. Santiment stated that the recent increases in speculative cryptocurrencies like PEPE and SHIB may be largely due to the low volatility in BTC. According to the crypto analysis platform, the low volatility in the market may lead investors to turn towards more speculative crypto assets.
Top Cryptocurrencies of the Day
FED‘s instant payment system, FedNow, added the payment platform Dropp developed on the Hedera Hashgraph network as a service provider to its system, causing Hedera (HBAR) to record double-digit value increases within hours. ApeCoin (APE), Mina (MINA), and Maker (MKR) also saw high percentage increases during the day, making them the top cryptocurrencies of the day.
On the other hand, there were also cryptocurrencies that experienced significant value losses during the day. Kava (KAVA), Stacks (STX), Arbitrum (ARB), Dogecoin (DOGE), and Aptos (APT) were among the high market cap cryptocurrencies that had the highest percentage value losses according to CMC data, following their recent declines.
