Matrixport: Sustainability of altcoin rally in doubt as trading volumes decline
According to news on April 1, Matrixport’s latest report pointed out that as a wave of altcoin activity poured into the market, cryptocurrency trading volume began to surge in early March. Anticipations of Ethereum’s Dencun upgrade and low transaction fees have fueled the frenzy, with several political developments pushing cryptocurrencies to the forefront of political elections. However, with trading volumes declining, the sustainability of the altcoin’s rally has been called into question.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cardano Eyes $200 Billion Market Cap Amid U-Pattern Surge Hype
Quick Take Summary is AI generated, newsroom reviewed. Cardano (ADA) could potentially reach a $200 billion market cap, implying a roughly 6x increase from the current $30.5 billion. The post cites a textbook U-pattern (rounded bottom) in ADA’s chart, a bullish reversal indicator in technical analysis. Current ADA price: $0.85, with circulating supply of ~35.83 billion ADA; a 6x surge would price ADA around $5.11–$5.58. Historical context: ADA’s all-time high was $3.10 in January 2022; surpassing this woul
Price predictions 9/22: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE
Bitcoin traders target downside liquidity after key price supports crumble: Is $107K next?
ETH futures turn bearish: A market overreaction, or is $3.8K next?
Trending news
MoreCrypto prices
More
