{"id":499165,"date":"2022-08-18T23:00:27","date_gmt":"2022-08-18T23:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=499165"},"modified":"2024-06-11T13:43:39","modified_gmt":"2024-06-11T13:43:39","slug":"crypto-market-gains-retrace-as-ethereum-merge-draws-closer","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-gains-retrace-as-ethereum-merge-draws-closer\/","title":{"rendered":"Crypto Market Gains Retrace As Ethereum Merge Draws Closer"},"content":{"rendered":"

Crypto market sentiment had been turning more positive in the month of August, and this had seen the digital assets in the space return double-digit growth in the first week of the month. However, the market has been unable to hold its bullish trend properly, and cryptocurrencies are beginning to shed the gains that they had put on in the first week. While the assets remain largely at positive levels, the gains for last week are noticeably less than the previous week.<\/p>\n

Weekly Gains Drop Across The Board<\/h2>\n

The weekly gains across the crypto market have been down for the last week. The Small Cap Index still remains the apparent winner through the week, as is expected during such recoveries. But it was in no way close to the gains that were recorded for the prior week.<\/p>\n

Related Reading: Flippening Forewarning? Ether Options Overtake Bitcoin As The Top Crypto To Trade<\/a><\/strong><\/em><\/div>\n

Small Cap altcoins came out on top with 8% gains for last week. This put it 2% ahead of the Mid and Large Cap Index and 5% better than Bitcoin\u2019s performance. However, it should be taken into account that small cap altcoins possess more volatility compared to the other indexes. Hence the large swings in gains and losses.<\/p>\n

The Large Cap Index made a surprising move last week by rivaling the returns of the Mid Cap Index. Usually, in cases like these, the Mid Cap tends to outperform alongside the Small Cap, but last week saw it return 6% gains, the same as the Large Cap Index.<\/p>\n

\"Crypto<\/p>\n

Bitcoin was the worst performer of the bunch once more. It saw only 3% gains, maintaining a noticeable distance from the rest of the indexes.\u00a0<\/span><\/p>\n

Bitcoin Sees Crypto Market Dominance Decline<\/h2>\n

Bitcoin has been seeing its crypto market dominance decline over the last two years. With the entrance of popular cryptocurrencies such as Ethereum, the leading asset has had to give up more market share to make room for others. But even with so much market share already taken from the pioneer cryptocurrency, altcoins continue to dig their heels in.<\/p>\n

Related Reading: Bitcoin And Ethereum Retrace Before Crypto Sentiment Could Reach \u201cGreed\u201d<\/a><\/strong><\/em><\/div>\n

Last week, bitcoin recorded another decline in its market dominance. The 0.42% taken over by altcoins has now dragged bitcoin\u2019s dominance down to the 40% territory. Meanwhile, Ethereum is seeing a growing market share. The altcoin added 0.89% last week, bringing its market dominance above 20% to 20.74% at the time of this writing.<\/p>\n

Stablecoins are also losing market share as investors begin to take more risks. USDT, USDC, and BUSD all saw declines of 0.03%, 0.17%, and 0.03% respectively. Surprisingly, Dogecoin added 0.15% to its market dominance, while Solana saw a 0.01% addition.<\/p>\n

The decline has seen more than $50 billion wiped off the crypto market cap, bringing it to $1.10 trillion at the time of writing.<\/p>\n

Featured image from Analytics Insight, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Crypto market sentiment had been turning more positive in the month of August, and this had seen the digital assets in the space return double-digit growth in the first week of the month. However, the market has been unable to hold its bullish trend properly, and cryptocurrencies are beginning to shed the gains that they had put on in the first week. While the assets remain largely at positive levels, the gains for last week are noticeably less than the previous week. Weekly Gains Drop Across The Board The weekly gains across the crypto market have been down for the last week. The Small Cap Index still remains the apparent winner through the week, as is expected during such recoveries. But it was in no way close to the gains that were recorded for the prior week. Related Reading: Flippening Forewarning? Ether Options Overtake Bitcoin As The Top Crypto To Trade Small Cap altcoins came out on top with 8% gains for last week. This put it 2% ahead of the Mid and Large Cap Index and 5% better than Bitcoin\u2019s performance. However, it should be taken into account that small cap altcoins possess more volatility compared to the other indexes. Hence the large swings in gains and losses. The Large Cap Index made a surprising move last week by rivaling the returns of the Mid Cap Index. Usually, in cases like these, the Mid Cap tends to outperform alongside the Small Cap, but last week saw it return 6% gains, the same as the Large Cap Index. Bitcoin was the worst performer of the bunch once more. It saw only 3% gains, maintaining a noticeable distance from the rest of the indexes.\u00a0 Bitcoin Sees Crypto Market Dominance Decline Bitcoin has been seeing its crypto market dominance decline over the last two years. With the entrance of popular cryptocurrencies such as Ethereum, the leading asset has had to give up more market share to make room for others. But even with so much market share already taken from the pioneer cryptocurrency, altcoins continue to dig their heels in. Related Reading: Bitcoin And Ethereum Retrace Before Crypto Sentiment Could Reach \u201cGreed\u201d Last week, bitcoin recorded another decline in its market dominance. The 0.42% taken over by altcoins has now dragged bitcoin\u2019s dominance down to the 40% territory. Meanwhile, Ethereum is seeing a growing market share. The altcoin added 0.89% last week, bringing its market dominance above 20% to 20.74% at the time of this writing. Stablecoins are also losing market share as investors begin to take more risks. USDT, USDC, and BUSD all saw declines of 0.03%, 0.17%, and 0.03% respectively. Surprisingly, Dogecoin added 0.15% to its market dominance, while Solana saw a 0.01% addition. The decline has seen more than $50 billion wiped off the crypto market cap, bringing it to $1.10 trillion at the time of writing. Featured image from Analytics Insight, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":499195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[134,142,428,6972,86626,1119,1144,78790,6664,1557,84508,84510,84509],"class_list":["post-499165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-altcoin","tag-altcoins","tag-bitcoin","tag-bitcoin-index","tag-bitcoin-market-dominance","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-cryptocurrencies","tag-large-cap-index","tag-mid-cap-index","tag-small-cap-index"],"acf":[],"yoast_head":"\nCrypto Market Gains Retrace As Ethereum Merge Draws Closer<\/title>\n<meta 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market Gains Retrace As Ethereum Merge Draws Closer","url":"http:\/\/wncen.com\/news\/crypto-market-gains-retrace-as-ethereum-merge-draws-closer\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-market-gains-retrace-as-ethereum-merge-draws-closer\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/crypto.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/crypto.jpeg?fit=900%2C500"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoins","bitcoin","bitcoin index","bitcoin market dominance","btc","btcusd","btcusdt","crypto","cryptocurrencies","large cap index","mid cap index","small cap index"],"dateCreated":"2022-08-18T23:00:27Z","datePublished":"2022-08-18T23:00:27Z","dateModified":"2024-06-11T13:43:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market Gains Retrace As Ethereum Merge Draws Closer\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-gains-retrace-as-ethereum-merge-draws-closer\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-gains-retrace-as-ethereum-merge-draws-closer\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/crypto.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/crypto.jpeg?fit=900%2C500\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoins\",\"bitcoin\",\"bitcoin index\",\"bitcoin market dominance\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"cryptocurrencies\",\"large cap index\",\"mid cap index\",\"small cap index\"],\"dateCreated\":\"2022-08-18T23:00:27Z\",\"datePublished\":\"2022-08-18T23:00:27Z\",\"dateModified\":\"2024-06-11T13:43:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/crypto.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=499165"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/499195"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=499165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=499165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=499165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}