Digital Asset Insights 18.07.23

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This post was originally published on Trademakers

courtesy of trademakers

Bitcoin (BTC)

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On July 16, 2023, Bitcoin’s price opened at $30,235.5, showing a slight increase throughout the day. The closing price stood at $30,291.8, representing a marginal gain of 0.18%. Trading volume remained at 20.31K, indicating a cautious sentiment among traders.

 

The previous day, July 15, Bitcoin started the day at $30,291.4. It reached a high of $30,395.4 before settling at $30,246.9, reflecting a minor decrease of 0.09%. The trading volume was recorded at 17.06K, suggesting a subdued trading activity.

 

In contrast, July 14 witnessed a decline in Bitcoin’s value. Opening at $30,317.4, the cryptocurrency experienced a tumultuous day, with the price plummeting to a low of $29,944.3. The day closed at $31,465.4, marking a loss of 3.65%. The trading volume surged to 82.42K, indicating heightened market activity during the sell-off.

 

However, the previous day, July 13, Bitcoin showed signs of recovery. Starting at $31,466.1, the cryptocurrency climbed steadily, reaching a high of $31,764.5. The day closed at $30,260.0, recording a gain of 3.55%. The trading volume spiked to 99.81K, as investors capitalized on the positive momentum.

 

July 12, on the other hand, witnessed a slight decline in Bitcoin’s value. Opening at $30,387.3, the cryptocurrency fluctuated throughout the day, eventually closing at $30,231.7. This represented a decrease of 0.77%. The trading volume remained moderate at 54.06K, as traders cautiously observed the market.

 

July 11 brought some relief to Bitcoin holders, as the cryptocurrency experienced a slight increase. Opening at $30,623.3, Bitcoin reached a high of $30,782.2 and ended the day at $30,333.8, reflecting a gain of 0.68%. The trading volume stood at 39.84K, suggesting a relatively calm trading environment.

 

Finally, on July 10, Bitcoin’s price started the day at $30,415.3. It experienced fluctuations throughout the day, reaching a high of $31,019.6 and a low of $29,969.1. The closing price settled at $30,166.9, marking a gain of 0.82%. The trading volume reached 55.24K, indicating moderate activity within the market.

Ethereum (ETH)

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On July 10, Ethereum demonstrated resilience and gained 0.94%, reaching a price of $1,880.42 per coin.

 

The following day, July 11, Ethereum encountered a slight decline, dropping by 0.11% and closing at $1,863.93. This trend continued on July 12, with the cryptocurrency experiencing a minor decrease of 0.34% and settling at $1,865.11.

 

However, July 13 marked a significant turning point for Ethereum. The digital asset surged by an impressive 7.10%, reaching a price of $2,004.77. This substantial increase instilled optimism within the market, hinting at a potential reversal in the recent bearish trends. Trading volume also spiked, with approximately 588.53K Ethereum units exchanged during the day.

 

Despite this positive momentum, Ethereum faced a little setback on July 14. The cryptocurrency witnessed a decline of 3.33%, dropping to $1,900.22. The trading volume surged to 530.86K Ethereum units as traders scrambled to respond to the market shift.

 

As the week progressed, Ethereum continued to experience volatility. On July 15, the cryptocurrency saw a further decline of 0.34%, closing at $1,926.83. The trading volume remained robust, with approximately 145.89K Ethereum units exchanged.

 

The most recent data, as of July 16, reveals Ethereum regaining momentum. The cryptocurrency gained 0.46% during the day, climbing to a price of $1,922.45. The trading volume remained strong at 158.59K Ethereum units, indicating sustained interest from market participants.

Ripple (XRP)

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Starting from July 10, 2023, Ripple opened the week at a price of $0.47798. Despite initial uncertainty, the coin exhibited resilience, climbing to $0.47990, a 2.12% increase by the end of the day. This upward momentum ignited hope among Ripple supporters, who eagerly anticipated further gains.

 

On July 11, 2023, Ripple’s value experienced a slight dip, starting at $0.47529 and closing at $0.47110. The drop of 0.56% left some investors cautious but did not significantly dampen overall sentiment.

 

However, July 12 brought another twist in Ripple’s journey. The price opened at $0.47109, only to experience a fractional decline of 0.88%, closing at $0.46618. The downward trajectory left market participants questioning the short-term stability of the digital asset.

 

July 13 saw an unexpected turn of events, as Ripple experienced a drastic surge in value. The coin soared from $0.81502 to $0.92144, representing an astounding 73.01% increase within a day. The surge caught many traders off guard and raised eyebrows in the cryptocurrency community.

 

The following day, July 14, brought disappointment to Ripple holders. The price opened at $0.71818, but a sell-off occurred, resulting in a significant drop to $0.67228. The day ended with a 11.88% decline, leaving investors concerned about the coin’s future performance.

 

Continuing the turbulent trend, July 15 witnessed further uncertainty for Ripple. Opening at $0.71453, the coin struggled to maintain stability and closed at $0.69376, marking a 0.51% decline. These fluctuations amplified the already existing apprehension among market participants.

 

Concluding the week, on July 16, Ripple exhibited a moderate recovery. Starting at $0.74704, the coin closed at $0.70526, representing a 4.55% increase compared to the previous day. This upward movement provided a glimmer of hope for Ripple supporters, indicating a potential reversal in its fortunes.

 

Throughout the week, trading volumes for Ripple remained substantial. Investors traded approximately $1.31 billion worth of XRP on July 16, reflecting sustained interest and market participation.

Cardano (ADA)

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Cardano (ADA), one of the prominent cryptocurrencies, encountered a decline in its value on July 16th, 2023. The digital currency dropped by 3.55%, leaving investors and traders concerned about its future performance. This downward trend comes after a series of price fluctuations witnessed over the past week.

 

On July 15th, Cardano opened at a price of $0.3261 and reached a high of $0.3375 before sliding down to $0.3244. The total trading volume for the day amounted to 143.68 million ADA tokens. Although the decline was relatively mild, with a decrease of only 0.54%, it signified the beginning of a period of uncertainty for the cryptocurrency.

 

The preceding day, July 14th, Cardano exhibited more substantial fluctuations. Opening at $0.3278, it surged to a high of $0.3779, enticing traders with the prospect of substantial gains. However, this upward movement was short-lived, as the coin plummeted to $0.3177, experiencing a significant decline of 8.03%. The trading volume on July 14th was particularly noteworthy, with an impressive 418.75 million ADA tokens changing hands.

 

Astonishingly, Cardano’s price made a remarkable recovery on July 13th after a period of volatility. Starting at $0.3564, it dropped to a low of $0.2890, only to surge to a high of $0.3639, leaving investors bewildered. This day witnessed a massive trading volume of 572.22 million ADA tokens, showcasing heightened interest in the cryptocurrency. Ultimately, Cardano closed the day at $0.2858, reflecting a 23.34% gain.

 

The preceding days, July 12th and July 11th, were relatively stable for Cardano. On July 12th, the cryptocurrency opened at $0.2890 and closed at $0.2854, with a trading volume of 88.19 million ADA tokens. Similarly, on July 11th, Cardano started at $0.2927, reached a high of $0.2938, and closed at $0.2874, with a trading volume of 109.64 million ADA tokens. Both days experienced marginal fluctuations, with gains and losses of 1.27% and 1.70%, respectively.

 

The week began on July 10th, when Cardano opened at $0.2878 and hovered between a low of $0.2787 and a high of $0.2925. This day saw a trading volume of 137.89 million ADA tokens, and Cardano closed with a modest gain of 1.16%.

Solana (SOL)

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Solana (SOL), a prominent cryptocurrency, experienced another day of price volatility on July 16, as its value dipped slightly by 0.13%. The digital asset opened the day at $27.420 and closed at $26.764. Despite this small decrease, Solana’s trading volume remained strong with 8.11 million SOL tokens changing hands.

 

Throughout the week, Solana’s price exhibited fluctuations, providing investors with a thrilling yet unpredictable journey. On July 15, SOL showed resilience by surging 2.91% to reach a high of $29.072 after opening at $27.456. The coin attracted significant attention as 12.93 million tokens were traded, indicating heightened investor interest.

 

The day prior, July 14, Solana experienced another upward movement, gaining 2.63% to reach $26.679. However, the digital asset demonstrated an even more significant trading volume of 23.77 million tokens. This heightened activity may be attributed to growing market enthusiasm surrounding Solana’s potential and the broader cryptocurrency sector.

 

July 13 saw a downward correction, as SOL dropped by 18.47% to close at $21.450, following its opening price of $25.995. Despite the decline, the trading volume remained substantial at 19.22 million tokens, highlighting the persistent interest from investors in Solana’s price movements.

 

On July 12, Solana briefly faced a minor setback, as its value experienced a marginal decrease of 0.62%. Opening at $21.942, it closed the day at $21.776. Nevertheless, Solana’s trading volume remained relatively steady at 7.45 million tokens.

 

The preceding day, July 11, SOL enjoyed a positive upswing, gaining 3.63% as it climbed from $21.298 to $22.078. This increase in value was accompanied by a trading volume of 5.53 million tokens.

 

July 10 saw Solana’s price decline marginally by 0.17% from its opening value of $21.305 to its closing value of $20.532. The trading volume remained moderate at 6.75 million tokens, indicating consistent interest in Solana among traders.

Tether (USDT)

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On July 16, 2023, Tether’s value stood at $1.0002, with a trading range between $1.0001 and $1.0011. The total trading volume on this day reached 49.70 million USDT, indicating a relatively active market. Despite minor fluctuations, Tether closed the day with a negligible change of 0.00%.

 

The previous day, July 15, 2023, Tether exhibited a similar pattern. Starting at $1.0002, its value experienced a marginal fluctuation between $1.0002 and $1.0012. The trading volume on July 15 reached 47.87 million USDT, representing a modest decrease of 0.04%. Despite this minor dip, Tether remained resilient and ended the day with minimal change.

 

Examining the market activity on July 14, 2023, Tether began the day at $1.0007, with a trading range between $1.0004 and $1.0012. The trading volume on this day stood at 162.98 million USDT, reflecting a renewed interest in the stablecoin. Tether’s price experienced a slight uptick of 0.02%, reinforcing its stability in the market.

 

July 13, 2023, saw Tether trading at $1.0004, with a range between $1.0002 and $1.0014. With a substantial trading volume of 203.67 million USDT, Tether exhibited a marginal increase of 0.01% by the end of the day. This consistent performance continued to instill confidence among investors and traders alike.

 

On July 12, 2023, Tether’s value fluctuated within a narrow range, opening at $1.0003 and closing at the same price. The trading volume stood at 110.70 million USDT, showcasing a steady market demand for the stablecoin.

 

July 11, 2023, witnessed Tether maintaining its stability as its value ranged between $1.0003 and $1.0010. With a trading volume of 159.58 million USDT, the stablecoin closed the day with no significant change.

 

Looking back at July 10, 2023, Tether’s value opened at $1.0003 and experienced minor fluctuations between $1.0001 and $1.0008. The trading volume reached 153.01 million USDT, with a negligible decline of 0.01%.

Binance Coin (BNB)

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On July 16, 2023, BNB opened at $242.30 and reached a high of $252.00 before encountering a downward trend. The coin’s value dipped to $242.20, resulting in a trading volume of 443.13K BNB. BNB ended the day with a decline of 3.43%, leaving investors and traders closely monitoring the market for potential signals.

 

The previous day, July 15, 2023, presented a different picture for Binance Coin. Starting at $250.90, BNB’s value initially declined to $248.10, only to rebound and reach a high of $252.50. Ultimately, BNB closed the day at $247.10, reflecting a modest gain of 1.13%. The trading volume stood at 393.00K BNB, indicating active participation in BNB trading.

 

On July 14, 2023, Binance Coin opened at $248.10 and reached a high of $261.60, showcasing a significant upward movement. However, the coin experienced a subsequent downturn and closed the day at $243.51. The trading volume on this day was relatively high, reaching 1.10 million BNB. Overall, BNB recorded a decline of 3.20%, marking a challenging day for investors.

 

July 13, 2023, painted a different picture for BNB’s price performance. The coin opened at $256.30 and fluctuated between $243.90 and $257.50. Ultimately, BNB closed the day at $242.80, exhibiting a notable gain of 5.09%. The trading volume reached 1.07 million BNB, reflecting increased market activity.

 

Looking at July 12, 2023, Binance Coin began at $243.90 and experienced a slight decrease before reaching a high of $250.39. However, the coin closed the day at $242.70, resulting in a decline of 1.93%. The trading volume stood at 613.17K BNB, indicating relatively active trading.

 

On July 11, 2023, BNB opened at $248.69 and experienced minor fluctuations throughout the day, with a high of $249.40. BNB closed the day at $244.70, showcasing a modest gain of 1.01%. The trading volume reached 677.47K BNB, suggesting continued interest in BNB trading.

 

July 10, 2023, saw Binance Coin open at $246.20 and experience a significant increase, reaching a high of $246.30. The coin closed the day at $231.61, representing a substantial gain of 5.17%. The trading volume was particularly notable, with 1.23 million BNB being traded.

The post Digital Asset Insights 18.07.23 first appeared on trademakers.

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