The revival of optimism in the crypto market

The revival of optimism in the crypto market

FxPro

The crypto market is starting the autumn season quite positively. While far from a dizzying rally, in general, the indicators and price dynamics are encouraging. The total capitalization of the crypto market is gradually growing, starting from $ 2 trillion, which is not so far from historical highs. An even more positive sign is the decline in the bitcoin dominance index, which has already fallen to 41.9%. This directly indicates the existence of a wide demand for altcoins. The capitalization of the first cryptocurrency reaches $934 billion, approaching the most important psychological threshold of $ 1 trillion.

The capitalization of the first cryptocurrency reaches $934 billion, approaching the most important psychological threshold of $1 trillion.The capitalization of the first cryptocurrency reaches $934 billion, approaching the most important psychological threshold of $1 trillion.

One can especially note the growth of Ethereum (ETH), which has overcome $ 3,700 and does not stop the upward movement. There are several important reasons behind this growth, including the decline in ETH stocks on crypto exchanges. According to the analytical company CryptoQuant, in less than half a month, the volume of coins on crypto wallets decreased by 700,000 ETH.

One can especially note the growth of Ethereum (ETH), which has overcome $ 3,700 and does not stop the upward movement.One can especially note the growth of Ethereum (ETH), which has overcome $ 3,700 and does not stop the upward movement.

As in the traditional economy, a drop in supply spurs a price increase, and sometimes even increases the demand for a limited product. In addition, the coin is seriously supported by what is happening around the NFT. The CryptoPunks project is reaching the level of Hollywood, and this cannot but stimulate demand for these tokens.

It is worth noting that NFTs work on the Ethereum blockchain, and every transaction within the ecosystem is subject to a commission. In addition, the decrease in the supply of coins is also affected by the blocking of coins within the framework of DeFi protocols.

With some concern, one can evaluate the news that the European Commission is trying to introduce rules for regulating cryptocurrencies in the EU, including those related to the rules of circulation in the member countries of the bloc. The initiative is met with quite fierce rejection from citizens of various countries who prefer regulation at the level of individual countries.

Beijing wants to create an international network for mobile payments using the digital yuan

China’s economic machine requires the currency to reach the international level, and the country is now able to make a truly competitive digital currency, but protectionism and direct confrontation against the digital yuan from Western countries can hinder these plans.

The total capitalization of the crypto market is gradually growing, starting from $ 2 trillion.The total capitalization of the crypto market is gradually growing, starting from $ 2 trillion.

It is likely that in the future the global digital economy will be built on the principle of circulation around several major centers of attraction, one of which will be China, absorbing the whole of Asia, and the second center will be in Washington, which will dictate the rules to the whole West.

There will be no predetermined winner here, but it can be assumed who will be among the losers — the first cryptocurrencies that the fate of Yahoo and other once large, but lost their power projects can wait for.