The cryptocurrency market experienced a remarkable 220% surge in its overall market capitalization between 2020 and 2021. However, this upward trajectory was not without its setbacks. The infamous “crypto winter” of 2018 led to the global crypto market plummeting by a whopping $2 trillion in value, ultimately resulting in the downfall of numerous major crypto firms.
While some experts have questioned the validity of using the term “market cap” to describe the crypto industry and its true reflection of the state of the market, there is no denying the impact of the sharp decline in crypto values on the industry, providing a clear indication of a bear market.
Despite these challenges, the crypto industry has proven to be remarkably resilient, bouncing back from downturns and demonstrating an impressive ability to adapt to changing conditions.
However, Sparklo will help investors in the crypto market regain their confidence as it keeps pushing the boundaries and shaping the future of cryptocurrency.
ARB Price Drops More Than 85% After Airdrop Was Distributed To Early Adopters
On Thursday, the crypto world was abuzz with news of the Arbitrum (ARB) airdrop claiming process going live. This event resulted in the dramatic drop of more than 85% in Arbitrum (ARB) markets from pre-IOU market prices recorded just the day before.
Arbitrum (ARB), a popular blockchain platform that promises fast, cheap, and scalable smart contracts, airdropped just over a billion Arbitrum (ARB) tokens, equivalent to 11.6% of the total supply. The token distribution started at noon ET and more than 474 million tokens had been claimed in just a few hours, reflecting the huge interest in this airdrop.
However, the Arbitrum (ARB) token price has been extremely volatile over the last 12 hours, with prices ranging from $1.10 to $11.80 per Arbitrum (ARB). At the time of writing, a single Arbitrum (ARB) was trading for $1.25 per unit. This volatility can be attributed to the sudden influx of Arbitrum (ARB) tokens into the market and the rapid buying and selling activity that followed the airdrop.
Despite bitcoin nearing $29,000 and Ethereum rising to $1,855 per unit, Arbitrum’s (ARB) price has been down. It is interesting to note that Arbitrum (ARB) trade volume is much higher than the Arbitrum (ARB) IOU volumes recorded just the day before, with roughly $849.81 million in Arbitrum (ARB) volume recorded in the past 24 hours. The top three crypto exchanges with the most Arbitrum (ARB) trading activity are Binance, Okx, and Bybit.
It is worth mentioning that the pre-IOU market prices for Arbitrum (ARB) were much higher than the current prices. The day before the airdrop, Bitcoin.com News reported on exchanges listing IOU Arbitrum (ARB) markets just before the real Arbitrum (ARB) token launched on Thursday. At that time, Arbitrum’s (ARB) value in U.S. dollars was more than 85% higher, indicating a significant drop in value after the airdrop.
The Arbitrum (ARB) airdrop claiming process was a highly anticipated event in the crypto world, and the subsequent drop in Arbitrum (ARB) market prices has been the talk of the town. However, given the huge interest in Arbitrum (ARB) tokens and the high trade volume recorded in the past 24 hours, it remains to be seen how the Arbitrum (ARB) market will perform in the coming days and weeks.
Uniswap (UNI) Price Declines To $5.26 As Price Analysis Shows A Bearish Trend
According to recent Uniswap (UNI) price analysis, the market sentiment has taken a bearish turn resulting in a 0.50% price decline to $5.26. Uniswap’s (UNI) trading session has started on a bearish note, struggling to surpass the $5.40 resistance level. Although Uniswap (UNI) had formed a higher-high pattern in its price chart, it has given up its gains and moved downwards.
At present, the market indicates that sellers are dominating the market and could further push the price down to $5.25 if Uniswap (UNI) fails to break the key resistance levels at $5.40 and $5.50. However, if the buyers manage to break the resistance levels, Uniswap’s (UNI) price could surge to $5.60 and beyond.
In the last 24 hours, the chart for Uniswap (UNI) price analysis reveals that the bulls are being overwhelmed by the bears and are struggling to break the $5.40 resistance level. Although the bulls had been leading since morning, the bears have taken over in the past few hours. The trading volume for Uniswap (UNI) indicates a loss of momentum in the market, reduced to $36,454,232, showing a loss of 6.45%.
The MACD indicator is giving a bearish signal as it moves below the zero line, indicating that sellers are gaining traction and could push Uniswap (UNI/USD) down to $5.25 in the coming session. The Relative Strength Index (RSI) has started dipping towards the oversold region, suggesting a bearish trend in the market. Therefore, it would be interesting to observe how the market trend unfolds in the upcoming trading sessions.
How Sparklo (SPRK) Metal Trading Platform Will Remodel the Crypto Market
Sparklo is a novel blockchain-based metal trading platform. Its primary goal is to provide an innovative space for ordinary customers to invest in precious metals such as gold, silver, and platinum bars.
Sparklo’s innovative approach to fractionalized NFTs will change the face of crypto space. Sparklo has undergone a thorough KYC application procedure to provide a superior level of security and transparency for its users. The application results will be available later this month. The platform has also been audited by Interfi Network, and its liquidity will be locked for 100 years, while its team token will be locked for 1000 days.
Now is the best time to make your investments with Sparklo, with its presale currently at Level Two at $0.019. Additionally, users are rewarded a 30% bonus on every order
Find out more about the presale:
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