© Reuters. Bitcoin and Ethereum are flat while Altcoins are faltering
- Santiment posted a tweet earlier today about the performance of BTC and ETH against a few other cryptocurrencies.
- The post mentioned that BTC and ETH were able to stay afloat while many altcoins continued to print losses.
- In related news, LTC, SRM, RAD, HIGH, and VIDT have all seen price declines over the past 24 hours of trading.
Market intelligence platform, Santiment, published a post on Twitter today about what has happened to (BTC), (ETH) and a few other altcoins in the market over the past few weeks. According to the post, both BTC and ETH managed to “stay afloat in their ranges,” while some altcoins continued to trickle in.
Santiment’s MVRV model (Source: Twitter)
Santiment also predicted that there might be some buying opportunities for altcoins such as Serum (SRM), Radicle (RAD), VIDT DAO (VIDT) and Highstreet (HIGH) altcoins. Traders who have invested in these cryptocurrencies have struggled in recent weeks, but Santiment predicted that some buying opportunities may emerge soon as these altcoins bottom out.
Regarding market leaders BTC and ETH, CoinMarketCap notes that they have incurred losses of 1.26% and 0.32%, respectively, over the past 24 hours. As a result, BTC was trading at $27,643.93 while ETH was valued at around $1,847.47.
The past 24 hours have not been kind to LTC, as the altcoin was valued at $78.78 at press time after the price dropped more than 3%. This managed to push LTC’s weekly performance further into the red at -10.05%.
Things didn’t go any better for SRM and RAD with both altcoins experiencing losses of over 10% over the 24-hour period. At the time of publication, the SRM is valued at $0.08496 while the RAD is trading at $2.62.
VIDT and HIGH also suffered losses of more than 4% over the past day. BTC and ETH outperformed VIDT by about 3.80% and 4.79% respectively, while HIGH underperformed against BTC by 3.60% as well as ETH by 4.57%.
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