Published Mar 26, 2023 04:55AM ET
Sell Pressure in the Crypto Market Is Fading Suggests Data
The Twitter user that goes by the name of MilkybullCrypto (@MilkybullCrypto) tweeted yesterday that the next week will be interesting for the crypto market. In the tweet, the Twitter user included a snapshot of a chart from Dune which showed that the selling pressure in the crypto market is almost over.
Selling pressure in the crypto market (Source: Twitter)
Meanwhile, CoinMarketCap shows that the 24-hour volume in the crypto market stands at around $31.26 billion. According to the crypto market tracking website, this is a 42.53% decrease in the total daily trading volume in the market.
Furthermore, the total volume in DeFi is estimated to be $3.02 billion of the total trading volume. This makes up around 9.67% of the total volume in the market over the last 24 hours.
Stablecoin trading volume makes up the majority of the market’s daily trading volume. At press time, the total stablecoin trading volume in the last 24 hours is $27.96 billion – 89.44% of the market’s daily volume.
In related news, the price of Bitcoin (BTC) has risen 0.02% over the last 24 hours. This 24-hour gain has added to BTC’s already-positive weekly performance – taking the total gain over the last 7 days to +2.23%. As a result, the crypto market leader’s price is trading at $27,528.07 at press time.
Trading volume for BTC has dropped approximately 50.62% in the last 24 hours. This brought down the daily trade volume for BTC to $12,856,864,239. The majority of BTC’s trading volume in the last 24 hours took place on centralized exchanges, with $12,880,690,500 being traded on these centralized platforms.
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