The post Why is the Crypto Market ‘Quiet’? Top Analyst Reveals Shocking Trends appeared first on Coinpedia Fintech News

Is the crypto market in a lull right now? Many traders seem to think so. One of the most prominent voices supporting this theory is Daan Crypto Trades, a well-known expert in the space. Recently, Daan shared his insights on X, making some surprising revelations that could be helpful for crypto enthusiasts.

Curious to know more? Let’s dive in!

HODLers Take the Lead

Daan Crypto Trades describes the current state of the crypto market as quiet. He notes a shift in dominance, with long-term traders outpacing short-term speculators. According to Daan, this trend is helping to push emotional, reactive traders out of the market, leaving behind a more stable environment.

His outlook is optimistic, suggesting that Bitcoin (BTC) and Ethereum (ETH) will play pivotal roles in driving the next phase of growth in the crypto sector. He believes these two cryptocurrencies are poised to lead the charge in the market’s next upward movement.

Market Overview: Numbers Tell the Story

As of today, the total market capitalization of the cryptocurrency sector stands at $2.28 trillion, with a daily trading volume of approximately $81.2 billion. However, the market has seen a slight downturn, with a 3.6% drop in the last 24 hours.

Bitcoin and Ethereum continue to dominate the space, holding a market share of 54.77% and 14.32%, respectively. Meanwhile, the dominance of cryptocurrencies outside the top ten has shrunk to just 9.56%, reflecting a notable decline of 18.84% over the past six months. In the last month alone, this segment has slipped by 2.39%.

BTC and ETH Show Mixed Results

Bitcoin’s current price hovers around $62,420, showing a modest 3.0% increase over the past seven days. On the other hand, Ethereum has faced a slight dip, currently priced at $2,626.96, down by 0.8% during the same period.

Over the past year, both BTC and ETH have seen significant gains. Bitcoin has surged by an impressive 139.6%, while Ethereum has climbed 59.0%, showcasing their strength as the industry’s frontrunners.

The Road Ahead

Given the market’s current dynamics, it seems likely that BTC and ETH will continue to take the lead in driving future growth. With favorable conditions in place, these two cryptocurrencies are well-positioned to lead the next big move in the industry.

Also Check Out: Why is Crypto Market Down Today?

Is this the calm before the storm? Tell us what you think.

The post Why is the Crypto Market ‘Quiet’? Top Analyst Reveals Shocking Trends appeared first on Coinpedia.org.