Selling pressure in the crypto market is fading suggests data after CoinEdition

• MilkybullCrypto tweeted that the next week in the crypto market will be interesting.
• The trader shared a snapshot from Dune showing declining selling pressure in the crypto market.
• In related news, the crypto market leader’s price is up 0.02% in the last 24 hours.

The Twitter user who goes by the name MilkybullCrypto (@MilkybullCrypto) tweeted yesterday that next week will be interesting for the crypto market. In the tweet, the Twitter user included a snapshot of a chart from Dune showing 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 is 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 amounts to around 9.67% of the total volume in the market in the last 24 hours.

Stablecoin trading volume accounts for the majority of the market’s daily trading volume. At press time, the total trading volume for the stablecoin 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% in the last 24 hours. This 24-hour gain has added to BTC’s already positive weekly performance – taking its total gain over the past 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 fallen approximately 50.62% in the last 24 hours. This brought the daily trading 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.

Disclaimer: The views and opinions, as well as all information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

The post Sales pressure in the crypto market fades suggests that data appeared first on Coin Edition.

See the original at CoinEdition

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