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Market Stagnate at $1 Trillion Level | Crypto Daily Digest Sep.12

TokenInsightTokenInsight2023/09/12 15:31
By:TI Research

With both low volatility and low volume, boredom dominates the market

As liquidity, volatility, and trading volume continue to decline, some metrics have regressed to levels last seen in 2020. The cryptocurrency market has been characterized by a narrow trading range, with the total market capitalization hovering around $1 trillion since the beginning of the year.

https://tokeninsight.com/en/dashboard/global-charts/global-market-cap

According to research from Glassnode, despite the recent spike in volatility during the sell-off down to $26,000, realized volatility has remained surprisingly low. This environment of reduced liquidity and minimal volatility is also evident in Bitcoin network settlement volumes, which have returned to levels last observed in October 2020.

Furthermore, the cohort of long-term holders has reached a new all-time high of 14.74 million BTC. The prevalence of hodling indicates a strong conviction among existing holders, but it may also suggest that they constitute the majority of market participants at this time.

Today's Market

Source: TokenInsight Gainers and losers

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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