Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm

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            <strong>Digital currency markets have been bearish in recent days as prices have continued to sink lower. The entire market capitalization of all the crypto assets in existence is down over 8% on Sunday at $1.25 trillion. Bitcoin has plummeted from its all-time high (ATH) of $58,350 last Sunday to today’s low of $43,189 per unit.</strong>
  • Bitcoin (BTC) prices have dropped -25.98% since last Sunday and today the crypto asset has touched a new low. At 10:48 in the morning, New York time, BTC prices touched a low of $43,189 per coin. BTC is down over 7% today but is still up 28% during the last 30 days and 122% for the last three months.
  • BTC dominance or the market valuation in comparison to the rest of the crypto economy’s valuations is around 61.23% today.
Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm
Bitstamp BTC/USD 3-minute interval chart on February 28, 2021. At the time of publication, BTC has been trading hands at prices between $43,600 to just above the $44k handle.
  • The second-largest crypto asset by market valuation is ethereum (ETH) which is swapping for $1,318 per coin on Sunday. ETH prices have dipped over 10% today and lost 31% during the last week.
  • Cardano (ADA) currently commands the third-largest market cap, and each ADA is exchanging hands for $1.20 per unit. ADA has been a coin that has notably outperformed other crypto assets during the last two days while most markets have been down. ADA is down 12% today but seven-day stats show cardano is up over 10%.
  • Cardano (ADA) is expected to upgrade on March 1, 2021, which introduces native token functionality to the Cardano network.
  • Meanwhile, tether (USDT) now holds the fourth position and behind it is binance coin (BNB) trading for $197 per coin. The Binance-created token is down 11% on Sunday and 31% for the last week. Behind BNB is polkadot (DOT) trading for a touch over $30 per DOT.
Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm
Bitstamp BTC/USD 4-hour candle chart on February 28, 2021.
  • XRP has been pushed down to the seventh position and is down 10% today. Each XRP is trading for $0.39 per unit. Litecoin (LTC) is swapping for $155 a coin and is down a touch over 9% this weekend.

  • The stablecoin USDC that’s managed by the crypto firm Circle has made it into the top ten crypto market cap positions. Currently, USDC is the eighth largest market valuation with $8.97 billion worth in circulation.
  • Lastly, stellar (XLM) holds the tenth top position amongst the 8,000+ crypto tokens in existence. A single XLM is currently trading for $0.39 per unit and interestingly, is roughly the same value as XRP, as the Stellar network blockchain was designed in a similar fashion.

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What do you think about all the market action on Sunday, February 28? Let us know what you think about this subject in the comments section below.

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                <a href="">25% loss</a>, <a href="">Bearish Markets</a>, <a href="">Bears</a>, <a href="">Bitcoin</a>, <a href="">Bitcoin (BTC)</a>, <a href="">bitcoin cash</a>, <a href="">Bitcoin Price</a>, <a href="">BTC</a>, <a href="">crypto assets</a>, <a href="">litecoin</a>, <a href="">Lows</a>, <a href="">Market Lows</a>, <a href="">Price Sinks</a>, <a href="">Prices</a>, <a href="">Tether</a>, <a href="">Top Ten</a>, <a href="">USDC</a>                </div>
                <p class="images_credits"><em><b>Image Credits</b>: Shutterstock, Pixabay, Wiki Commons</em></p>

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