Cardano, XRP, BNB, POVEZAVA: Oglejte si te meritve za znake izterjave

The recovery in the price of top altcine is slower than anticipated following the bloodbath of the past weekend. Several factors led to the dip, one of the key factors was volatility. A sudden drop in volatility of top altcine led to a dip, this was evident from the social volume. The current altcoin bloodbath led to a drop in demand across exchanges, and the volatility of the crypto market is currently swinging between 40-60% based on the following chart.

vir: Twitter

This has led to a limitation in scaling and demand across spot and derivatives exchanges. Volatility is a double-edged sword in the case of altcine during a price rally. Just as it drove profitability during the rally of altcine like ETH, LINK, BNB, XRP, volatility is helping drive recovery. The social volume of XRP, LTC and LINK has increased based on data from lunarcrush.com.

This increase in social volume is driven by the increased number of tweets on crypto Twitter, mentions by influencers and increased search volume on Google. For altcine in top 30, both the volatility and social volume are increasing steadily. In the case of ADA, XRP, BNB, LINK volatility is influenced by demand across exchanges and market capitalization.

vir: Coinmarketcap.com

Concentration by large HODLers has increased consistently, for altcine like Chainlink. 78% of large HODLers have LINK concentrated in their wallets, of which 56% are profitable. The on-chain sentiment is bearish based on data from intotheblock. The investment inflow in the past 7 days on the LINK network is $6.24 Billion. Large transactions have dropped by 3%, however, the drop hasn’t had a negative impact on the price yet. Resisting the selling pressure, LINK is trading at $24.76 level currently.

Similarly, in the case of ETH, the price is up 8% in the last 24 hours. The increase in social volume and volatility is driving an increase in the price. The narrative of ETH scarcity continues as the % balance across exchanges is dropping and there are 88% HODLers profitable at the current price level of the 58% who held the altcoin več kot 12 mesecev.

In the bull run of 2018, volatility of Bitcoin was key to the price rally of both Bitcoin and top altcoins, since altcoins had high correlation with Bitcoin. Similarly, the correlation between top altcine and Bitcoin is above 0.80, thus altcoins are following Bitcoin’s lead as it recovers and rallies to the $40000 level.

Vir: https://ambcrypto.com/cardano-xrp-bnb-link-look-at-these-metrics-for-signs-of-recovery/