Crypto Academy Week 13 - Homework Post for @imagen || Cryptocurrency Markets


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Hi, friends hope you all are fine, I just completed the lecture post by professor @imagen, and learn about dominance in crypto and how the market will behave when we see high price in BTC and learned about altcoin season in-depth.


Dominance in the world of cryptocurrencies.


Dominance in simple word we can say that one thing or person has power or influence over other, as we have seen in crypto market Bitcoin(BTC) have dominance than altcoins because of many reasons, one of them are Bitcoin is very first cryptocurrency others have followed concepts of Bitcoin and added some additional things.

Other projects like Ethereum(ETH), Binance(BNB), and Ripple(XRP) are coming after Bitcoin, they have strong projects and getting a higher market cap on a daily basis.

Binance(BNB) has taken over the market in just a few months, they are just making things simple and take fewer transaction fees do we have seen rapid changes in the price of the Binance(BNB) token.

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Still, Bitcoin has dominance among other coins in this we have seen up and down in the price of Bitcoin and today we have seen Bitcoin is low at $46,980.02 and high at High:$57,196.48 and totally - 13.45 %, and has a market cap of $921,996,432,344 and Bitcoin dominance is decreased to 42.1% and we have seen Ethereum dominance is increased 19.7%.


2 Times Where The Market had Strong Falls.

First Market Strong Fall

In 2018, we have seen a great fall in the whole market it's like a huge crashed and all the market was red many investors have lost their investment, In January 2018 Bitcoin is falling down by 60% whole market was red.

Second Market Strong Fall


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---owadays the market i is behaving ke same as in past t years, the start bitcoin priceeached an all-time high of $64,863 3 just a month ago and now it's keep going down andown on a daily babasis today market down Bitcoin is a at -10% a all altcoins hahave followed Bitcoin.


What is the Altcoin Season?

Altcoin season in which all top altcoins perform best or gives all time high we can say like that season in which we give quite good gain and in altcoins are know as Altcoin season.

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Like now a day we can say it's altcoin season top 50 aln has gained a new all-timetime high like Ethereum, Binatoken has gain man massively. here we can see in this chart Ain have a great cht change in dominance.

Give a brief description of at least 2 altcoins that are in the TOP 50.--

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  • 1. Binance Coin(BNB) : BinanceBNB) is the native ttive of Binance it works in both Binance centralized exzed exchange and Binance smart chain it's same like Ethereckchain, Binance nance coin is rank at 3 positing after Bitcd Ether and haved have 4.4% dominance level, because of high gas fees in Ethereum network users have moving toward Binanace smart chain where they have to pay veryees, the projectroject like Uniswap name Pawap and a few daysw days ago tve crossed the 24 he 24 hours of Uniswap. and price toward the moon.-on.

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  • 2. PanCakeSwap (CAKE): Pancakeswap is fork of Uniswap in the Binance Smart chain with some additional features like users get benefits of ry and staking LP g LP to get cake etc, Pancakeswap have native coin name $Cake currently rank at #35 according to coinmarketnd have a market cket cap of $5,160842 and the current rent price is $31.39.akeswap gains very populaopularity in BSC and attract more user be of low fees, wes, we can see in picture $Cave gained very mary massive change in few months.

How can relevant news influence the price of cryrrencies?

e haWe haveen much influence ne newhich has an effect the market in botboth good and bad way here are some examples:


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  • Tesla has announcunced that they are no more accepting Boin as a paypayment method for paying any Tesla vehicle, after this announcnt we have seen the Bitcoin market it is going down.

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    1. Reefnance has announcunced that Alameda Reseh has invested $20$20 Million into Reef Finanand overnight we we have seen 30% gain in their native coin. andter a few weeks AlaAlameda Research announced they are not investing in this project for e reason then su suddenly reef coin is at30% within few hours of the news relrele.
      At the end of of 2020 Trust wallet have announced burning 89 Billions of $twt tokeokens from a total sup of 90 Bi Billion, after s news coins market have touch sky gained more than 100%. Source

Penny cryptocurrency

SafeMoon

SafeMooMoon is the hottest coin in the market na dayday, the investor gains dou even more profit from this coin to date, according to wo write a paper offeMoon they are solsolving a problem which is newcomers haven't got beits from higher APY so they are pe providing these bfits ts to newcomers. afeMoon have totalsupply of Quadrillion 1,000,000,000,000,000 coins. and having current prize of $0.00000745 per $SAFEMOON, total market cap is $4,332,726,409 and 24 hours trading volume is $192,980,022.

SafeMoon is rank at #202 by coicoinmarketcap, thioin is just 2 months oldold and gains a massive amo of change in price because of user interest in this coin.


Thank you.

Cc:

@imagen
@steemcurator01


Comments 2


Hola @farhanali

Gracias por participar en la Academia Cripto de Steemit.

Escala de Estimación. Puntaje Observación
Concepto de Dominancia. 0.6
Ejemplos del mercado. 1.4
Temporada de Altcoins 0.6
Descripción Altcoins TOP 50. 1.4
Noticias relevantes y ejemplos 1.1
Criptomoneda Penny 1.4
Calificación 6.5

16.05.2021 04:23
0

Thank you professor 😊

16.05.2021 10:48
0