The crypto market looks better today, with most of the important coins trading in the green. Check out some new price predicitons for cryptos.
New price predictions are out
CoinDesk notes that July has brought relief to the crypto market, with Ethereum classic (ETC) and UNI, and MATIC leading the recovery in digital assets with at least $1 billion market value.
“ETC has added 184% this month, while scaling solution Polygon’s MATIC and decentralized exchange Uniswap’s UNI have gained 102% and 86% respectively,” CoinDesk data show.
The same online publication notes that MATIC seems to be reaping the rewards for Polygon’s expansion plans and partnership announcements.
They also noted that UNI is not the only decentralized finance (DeFi)-associated token to rally.
On the other hand, its outperformance may result from the Uniswap community’s decision to approve a “fee switch” proposal that directs a portion of trading fees to the UNI holders.
Current state of the crypto market
The crypto market is struggling to recover following a lot of corrections.
The worst of the Bitcoin (BTC) capitulation could be over, according to the crypto analytics firm Glassnode.
In a new analysis, Glassnode examines the Market Realized Gradient Oscillator (MGRO) 14-day, 28-day, and 140-day time periods, with the latter period indicating Bitcoin has already been in a bear market for many months, according to the analytics firm as per the online publication the Daily Hodl.
An important crypto analyst says Bitcoin (BTC) and the rest of the digital asset markets are rebounding on Federal Reserve Chair Jerome Powell’s dovish post-Federal Open Market Committee (FOMC) press conference.
In the latest edition of his Cryptocademy newsletter, analyst Justin Bennett dives into the charts to predict how long BTC, Ethereum (ETH), and FTX Token (FTT) rallies will last.
“Bitcoin has put in an impressive rally today, with a 7% gain as of this newsletter. Of course, most of this came following today’s FOMC.”