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Crypto analytics firm Santiment says the Ethereum (ETH)-based altcoin, which has the highest supply on the exchange, will trade flat for a while before seeing more volatility.
Santimento To tell The price of the native token of automated market maker (AMM) Bancor (BNT) has risen as the supply of tokens on the exchange increased by 46% from three months ago.
Bancors price has skyrocketed today, surpassing $0.4556 for the first time in two weeks. As an altcoin with one of the highest level coins on exchanges within the top 200, BNT experiences significant volatility at any time. There is likely to be.”
At the time of writing, BNT is trading at $0.426.
As for Bitcoin (BTC), the flagship crypto asset currently trading at $19,173 has seen volatility decline over the past few months, Santiment said. rejected in bulk transactions.
Bitcoin price action has become relatively boring over the last four months, so we can see that the lack of whales has a lot to do with this drop in volatility. BTC transactions worth over $100,000 and over $1,000,000 have dropped to levels last seen in 2020.
analysis company To tell The broader cryptocurrency market is declining in popularity as token prices plummet.
Theres been a fair amount of blood in the streets. Unless your portfolio consists primarily of BNB, XLM, QNT, MKR, HT, or other lean positive altcoins over the past 30 days, you It is depressed, reflecting the shrinking group of individuals who are still interested in cryptocurrencies.
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Featured Image: Shutterstock/Mia Stendal
