Bitcoin (BTC) and cryptocurrencies have been stable over the past few days as the market remains uncertain about the future. The war in Ukraine continues and central banks continue to raise interest rates after years of interest rates being close to zero. Bitcoin and digital assets are showing relative stability, which has been considered a positive thing for the whole crypto market.
Bitcoin and Cryptocurrencies Remain Stable
The cryptocurrency market has been operating without major changes among the top 10 cryptocurrencies in recent hours. Most virtual currencies have experienced almost no change in the last hour and very small changes in 24 hours.
Bitcoin, the largest cryptocurrency in the world, has moved higher by 0.1% in the last 60 minutes. Compared to 24 hours ago, its price moved higher by 0.4%, showing a positive trend. Despite that, these are normal fluctuations for Bitcoin. Most virtual currencies experience similar movies throughout the day without changing their mid-term trajectory in the market.
Ethereum (ETH), instead, has not moved in 24 hours or in the last hour. Its price remained stable at $2.957 per coin. Therefore, we see that the second-largest virtual currency experienced no changes in terms of price. Therefore, close to 56% of the total market capitalization has barely moved in recent hours.
According to data shared by CoinGecko, the total cryptocurrency market valuation has only changed by 0.1% in the last 24 hours. This shows that the whole market is being traded almost without change.
Binance Coin (BNB), has instead moved by 0.2% higher in the last hour and 0.5% in 24 hours. This is the largest change among the top 5 virtual currencies. Therefore, we see that some other coins are also experiencing price changes that are close to zero.
One thing that is worth pointing out is that in the last week, most virtual currencies experienced losses among the top 10. There have been just two virtual currencies without moving lower. These coins include Terra (LUNA) and Polkadot (DOT). They moved higher at 13.3% and 1.7%, respectively.
Meanwhile, Bitcoin fell by 1.7% during the same period of time, Ethereum moved lower by 3.7% and XRP lost close to 10% of its value during the last week. It is just a matter of time to seeing what we could expect from virtual currencies in the coming months. There are two main issues affecting them: the war in Ukraine and also the increase in interest rates all around the world.