Analyzing The Performance Of Top Cryptos In Todays Market; Buy, Sell, or HODL

The last three days have been quite bearish for the crypto market, where most of the cryptos dropped in value, bringing the overall market cap down to $2.41 Trillion on May 11. Its impact was mainly noticed in the Bitcoin price as it dropped to the week’s low of $66,203. However, today is different as a minor recovery has happened, including the shift of market sentiments to 58 from the week’s low of 56 per the fear and greed index.

On that note, let us discuss the performance of top cryptos in today’s market.

How’s The Top Cryptos Performing Today?

As per CoinmarketCap, the top cryptos are Bitcoin, Ethereum, Binance Coin, and Solana. XRP and others based on their market capitalization. More importantly, the demand and popularity of cryptos make them stand out from the rest.

1. Bitcoin (BTC)

From the earlier decline, Bitcoin has made a recovery after the Consumer Price Index (CPI) data was released yesterday. However, the rise did not last long, as the Bitcoin price dropped to $67,512 with a market capitalization of $1.3 Trillion. Despite that, this might be the lowest point Bitcoin has before rising past the ATH.

2. Ethereum (ETH)

Despite the Ethereum ETF approval, Ethereum price is on the decline only where it is currently at $3489. The downtrend has been continuously going on for a week, bringing down its overall demand in the market. It is on the lowest values and is among the perfect cryptos to buy this week.

3. Binance Coin (BNB)

BNB is slowly drifting away from the newly created all-time high target of $720.67. The BNB price is currently at $603.8 after moving 16.03% from ATH, out of which a 1.8% drop happened in the last 24 hours. BNB had previously kept its ATH high unachievable for almost three years, risking the same this time as well.

4. Solana (SOL)

Solana is currently trading at $151.16 with a market cap of $69.7 Billion after facing a 12% decline this week. It already had a long journey to its all-time high target of $260.06, set three years ago, but the current decline drove it farther away. It is among the less profitable cryptos in this bullish market period despite the popularity of Solana meme coins.

5.Ripple (XRP)

With many analysts claiming almost no hope for XRP, it is still among the top cryptos with a high market share of $1.2 Billion in market cap. XRP price is at the lowest point of the year with the current value of $0.4846 and might continue to decline as it has been in a downtrend for years due to regulatory issues with the SEC.

6.Dogecoin (DOGE)

Dogecoin price has also dropped from its average range of $0.015 and is 80% away from the ATH target of $0.7376 set three years ago. The price is moving again after a 2.3% surge in the last 24 hours. With the support of Elon Musk and its dominance in the meme coin market, DOGE is among the most favored cryptos.

7.Toncoin (TON)

Toncoin price is booming today as it has surged 6.48% from yesterday and trading at $7.53. The altcoin is now just 3% from its all-time high target of $7.78 set just a week ago. With the trend continuing, TON might accomplish a new high record soon.

8.Cardano (ADA)

With a few ups and downs, Cardano is also on the profiting cryptos side for now, especially making a recovery today with a 1% surge after an earlier decline. At the time of writing, the ADA price is $0.4308., which is 86% away from the ATH set three years ago.  Cardano has a high-profit potential despite the declines.

Though these crypto are on top of the list, many failed to perform up to the expectations for years, limiting their role in the crypto market. However, they are at the top for a reason and have a high profit potential once the situation turns favorable.

Continue Reading 5 Altcoins Recovering the Highest After Market Crash

The post Analyzing The Performance Of Top Cryptos In Todays Market; Buy, Sell, or HODL appeared first on CoinGape.