New week kicks off with marginal dips in the crypto markets

New week kicks off with marginal dips in the crypto markets

By Sam Grant - min read
  • Top crypto assets are down by between 2% and 5% over the last 24 hours.
  • At the time of press, Bitcoin is holding $37,076, and Ethereum $2,544.
  • Terra continues to lose significantly, declining 25% over the last week.

The volatility that has plagued crypto markets in January continued into the last week of the month. Market swings sent the prices rocking with major crypto-asset tokens in the red into the start of the new week.

Now having a market cap of $705.98 billion according to CoinMarketCapBitcoin has plunged 2.6% in the last 24 hours and is currently trading at $36,975. Though the world’s market-commanding digital asset resided north of $38k in bits over the weekend, it has remained inconsistent, and so has Ethereum’s native coin ETH.

ETH is currently down 1.85% on the day, but it established a pretty consistent rise since Friday afternoon, reaching as high as $2,630 on Sunday. However, today morning the token started falling and plunged to as low as $2,499 and has hardly neared the $2,600 range. Still and all, it has recovered from falling below $2,350 and is up 15% in the last seven days.

Alts are holding steady

Most altcoins performed modestly in the markets over the weekend. ADA is trading $1.02, down 4.4% in the last 24 hours. Like many other alts, it has hardly recovered from the hit the market took in the previous weekend. Since Wednesday, the token has not crossed $1.1 and only hovered around the $1 point even during the weekend.

Binance Coin (BNB) also has a negative marginal change in the last 24 hours, 3.91%. It, however, conforms to general market behaviour in the 7-day time frame, showing an 8.5% increase relative to its price last week.

Solana’s SOL and MATIC are showing a positive elevation relative to their positions last week as well. Up 10.4% and 18.6%, respectively, over the last seven days, the tokens are on the verge of reclaiming $92 and $1.60.

LUNA is seeing more losses

Terra’s LUNA, however, is a unique case. The coin has posted a 25% slump over the last seven days. LUNA is currently changing hands at $45.75, down 8.63% in the last 24 hours.

It is trading more than 55% below its all-time high. Within this range, LUNA is now testing lows it last saw in November.