Average Network Returns for Traders in Negative Territory -Breaking
- Crypto’s biggest and top assets are seeing some trader pain once again.
- The most anticipated coin of the month (ADA) has had neutral 30-day returns.
- Opportunity zone for (ETH), the second-largest cryptocurrency in terms of market capitalization.
On June 11, Santiment posted on Twitter (NYSE:) that crypto’s biggest and top assets are seeing some trader pain once again.
Top Market Cap Comparison of 30-Day MVRV (Source: Santiment).
The major price pullback that altcoins have experienced in the last few days, as well as the mild drop in Bitcoin’s (BTC) price has resulted in the average network returns of traders dipping into negative territory.
Cardano (ADA) is the most talked about coin of this month. It has had neutral returns for 30 days. ADA currently stands at $0.5078, after a 16.64% decline in value over the past 24 hours. This alleged Ethereum-killer has also seen a 9.94% decline in its price during the week. ADA’s market cap is also down by 14.57% and currently stands at $17,230,896,286, according to CoinMarketCap.
BTC is the market leader and BNB, which is the native token of Binance, are both seeing negative returns. BNB traded at $254.14 after a 12.19% price drop.
Ethereum (ETH), which is the second most popular cryptocurrency according to market capitalization, has now entered an area of opportunity. ETH’s price currently stands at $1,467.96, following a 11.89% decline in the drive within the past 24 hours. In the seven previous days, the price of crypto fell by 18.09%.
ETH’s market capital currently stands at $177.717.213,533, a drop of 11.92% over the previous day. ETH had a 24hr trading volume at $27,009,416,858, an increase of 53.31% over yesterday.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.