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    Bitcoin (BTC) on track to close the day above $23,000; Ether (ETH) recovers losses of the week

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    Daily summary on Bitcoin, the cryptocurrency market and decentralized finance (Image: Unsplash/shutter_speed)

    O Bitcoin (BTC) heading to close the day with a daily recovery of just over 2%, holding on to its $23,000 support. However, this Friday (5th), the cryptocurrency accumulates a negative weekly variation of 2.78%.

    O Ether (ETH), crypto asset from the network smart contracts Ethereum, has recoveries after yesterday’s drops (4), and appreciates just over 6% in 24 hours. The crypto asset is currently priced at $1,694 to end the week virtually flat.

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    According to data from CoinMarketCap, the market capitalization of the sum of all crypto-assets increases by 2.57%, and remains above the US$ 1 trillion mark.

    Bitcoin has decreased its dominance Marketplace on top of Ether, and Ether has increased its dominance over the market. The dominance of bitcoin and ether is, respectively, 40.5% and 18.9%.

    “Fear & Greed” Index – how is the feeling of fear in the market?

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    The “Fear & Greed” index, or fear and optimism, seeks to represent these feelings that surround the market. The index scale is from 0 to 100 points, where the closer to zero the fear is extreme, and from 100 the optimism reigns:

    Latest Crypto Fear & Greed Index

    Today, the index advances by one point, from 30 to 31. Currently, the index has moved from the “extreme fear” zone to just “fear”.

    Bitcoin (BTC) Onchain Data

    According to the data analysis website of blockchainBlockchain.com, the hash rate – the maximum capacity a miner can produce – per second has increased since yesterday to 211,486 EH/s.

    Today, the cryptocurrency’s blockchain had about 267,717 confirmed transactions on the network and an estimated volume of 102,533 BTC moved in those 24 hours.

    Ethereum (ETH) Onchain Data

    Currently, based on the “etherscan.io” network block explorer, the network mining difficulty is 12,002.04 TH.

    The network hashrate is 957,622.81 GH/s, an average fee of 12 Gwei, or $0.43, and 1,666.98 M (12.8 Transactions per second).

    Onchain Data of “Ethereum 2.0”

    As per the Beacon Chain block explorer – a proof-of-stake consensus layer chain that will be implemented on Ethereum (ETH) after The Merge – the network has 412,013 active validators, 13,184,305 Ethers in “stake” and an average of 33.72 Ethers per active validator.

    The last case of “Slashing” – withdrawing Ethers from the validator as a way to punish malicious activity on the network – occurred 16 days ago. The validator had 35.01 ETH on its balance sheet.

    Market analysis

    André Franco, chief analyst at the Bitcoin Market, comments that we are in at least the third consecutive day in which the bitcoin starts the day in green and ends the day in red.

    “Even with very low volumes in the drops, BTC has dropped just over 5% in the last few days, but today the asset is rehearsing a recovery of almost 3%”, he says.

    Without much news on the horizon, for him it is natural that we will see even more laterality in prices and some reaction on the 10th, when the US inflation data comes out.

    “Until then, what is worth monitoring are the likely attacks within the ecosystem that can affect assets on a timely basis”, he concludes.

    Decentralized Finance (DeFi)

    the sector of decentralized finance (DeFi) also had a slight daily high. The total amount locked in DeFi, according to the website Defillama, is US$ 68.68 billion, a positive daily variation of 1.33%.

    The protocol that has the most dominance, in terms of TVL, is Maker DAO (MKR), a decentralized lending platform, with a 12.42% DeFi market share and $8.53 billion locked in the protocol for liquidity. A positive 1.72% daily change in your TVL.

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    Disclaimer

    Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

    Source: Moneytimes

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