Bitcoin and Ethereum fell due to volatility in the information market.

Data from Cointelegraph Markets Pro shows that NFT-related platforms such as AUDIO, AXS, and SLP produce the largest 24-hour recall.

Today, with Bitcoin (BTC) falling to $ 32,300 and altcoins falling 2% to 5%, the broader cryptocurrency market is looking for something to strengthen.

According to data from Cointelegraph Market Pro and TradingView, our top players in the last 24 hours are Audius (AUDIO), AXIe Unlimited (AXS) and (SLP).

The device has performed better over the past 24 hours. Source: Cointelegraph Markets Pro

Versatility and the use of non-fungible tokens are still the driving force behind all NFT sites as they open the door to more income, primarily through the sale of tokens, music and art.

Audius loves new artists and users.

According to Cointelegraph Markets Pro, AUDIO expectations have risen in recent days as new users and popular groups like Wheezer flock to the music sharing and streaming protocol.

Cointelegraph Markets Pro's VORTECS ™ data began reviewing the AUDIO deal on July 9 ahead of the recent price.

Cointelegraph's unique VORTECS ™ Scores are algorithmic comparisons of historical and current markets that include a mix of data such as market sentiment, volume and price movements or, and Twitter activity.

VOTECS ™ credit (green) and AUDIO rating. Source: Cointelegraph Markets Pro

As you can see in the image above, AUDIO's VORTECS ntsuab score turned green on July 8 and peaked at 73 on July 9. In the past 32 hours, the rate has increased by 55% over the next two days.

Users receive income from Axie Infinity.

Axie Infinity (AXS) was one of the best gains in July as users in the most disadvantaged sectors of the industry won a marketplace based on blockchain and integration battle games to find the revenue it needs. has.

The AXS market has also been positive for some time, according to data from Cointelegraph Markets Pro.

VOTECS ™ credits (green) and AXS rates. Source: Cointelegraph Markets Pro

As you can see in the image above, AXS 'VORTECS ™ score started turning dark green on July 7, peaking at 89 on July 9, with prices rising 97% from 11. , $ 18 to $ 22.14 in about 5 hours. 4 days in advance.

SLP Water has been upgraded with the registration of a new stock exchange.

Today, the third best performer is Little Love, who is part of the Axie Infinity ecosystem for breeding Axies, a non-fungible token-based creature in the world of Axie Infinity.

4 hour SLP / USDT chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that over the past 24 hours, SLP prices have fallen from a low of $ 0.264 on July 12 to $ 0.41 on July 13, less than two days from the high historic 0.419 cents.

Tuesday's SLP performance was aided by tokens, in part, listing the FTX cryptocurrency derivatives exchanges that made the square and the market permanent.

Traders appeared troubled even as the price of Bitcoin falls near key $ 32,000 support.

A new wave of selling has pushed the price of Bitcoin (BTC) up by $ 32,000 in the past few hours as falling volumes and traders' speculation brought the price down to its current low.

4 hour BTC / USDT chart. Source: TradingView

Ahead of the network's next London hard fork, ETHer (ETH) prices were also in high demand with Bitcoin as energy houses could not support prices above $ 2,000. and hit a low of $ 1,918 per day.

Bitcoin's compression range is narrow.

The anonymous Gas Fring Twitter account provides an overview of the current market and announces the following tweet describing an example of a pre-market move by BTC.

1 / Here is a graph that shows how many $ btcusd controls. The Bitmex financial mechanism will help determine the exit. With the exception of Q4 2018, when silver traded from negative to positive, the events of the month helped define ... pic.twitter.com/te93tA98JO

- Gas Fring (@gas_fring_) 13 juillet 2021

As can be seen in the graph below, the price of Bitcoin likes to trade a lot of volatility after the high price rose to 132 days, as it did in 2018 and early 2019.

BraveNewCoin liquidity index for the Bitcoin one-day chart. Source: Twitter

The current compression range is maintained for 55 days, with the narrow range of $ 30,000 to $ 36,500 after June 19.

According to Gas Fring, in the past of the "layered tighter compression" that occurred in the fourth quarter of 2018 and the summer of 2020, the tighter compression time lasts "about half the time."

“This tells us that we probably have about two weeks placed inside the breast, which takes 34 and 68 days respectively.

Altcoins have been hit hard as Bitcoin continues to struggle.

In the afternoon, sales hit the altcoin market, leaving a few green coins as traders poured in.

Daily cryptocurrency market. Source: Room 360

Non-fungible and gaming tokens such as Axie Infinity (AXS) and Little Love Potion (SLP) continue to hold their place in the dark market, up 22% and 35% as new users receive daily earnings. Blockchain based trading and fighting game.

Other big gains included a 16% increase in Phala Network (PHALA) and a 15% increase in MyNeitherAlice (ALICE).

The total cryptocurrency market is currently $ 1.314 trillion, with Bitcoin accounting for 46.1%.

Ether (ETH) may have the best prospects for its July meeting, with a major tech upgrade called EIP-1559 which promised to make the root ETH token rarely accessible through the main generator of the network.

However, the second largest cryptocurrency in the capitalization industry still lags behind its biggest competitor, Bitcoin. This strong relationship came as Ether fell below $ 2,000 after New York City opened on July 13 and Bitcoin fell two weeks below $ 32,500.

ETH/USD vs BTC/USD sur Coinbase. Source : TradingView

ETH / USD fell 3.43% before hitting a one-day low of $ 1,961.10. The pair's slight decline coincided with Bitcoin's bearish sentiment as traders measured the latest uptrend in US data.

Consumer prices in the United States in June rose 0.9% from the previous year to 5.4%, the highest since 1991. Bitcoin and other cryptocurrencies are in the news, fearing that the US Federal Reserve does not give up its right to take on debt if inflation increases further.

Macro-inflation and deflation of Ethereum

Importantly, workers should support at least two rate hikes until the end of 2023 if inflation raises its 2% target, according to the June FOMC minutes. Bank interest rates have kept interest rates at 0.25% since March 2020, boosting investor demand for the dollar, which has boosted demand for commodities, including Bitcoin.

According to Crypto Watch, Ethereum has a one-year relationship of. ** with Bitcoin and increased further in Q1 2020 and Q1 2021 on similar macroeconomic gains.

However, cryptocurrencies have overtaken Bitcoin due to their role in various crypto markets including financial markets (DeFi), non-fungible tokens (NFT), and securities.

One year relationship between Bitcoin and Ethereum. Source: cryptographic surveillance

However, the Ethereum network also suffered from configuration issues in the form of bandwidth congestion. Overloaded blockchains increase costs by pushing miners, office spaces, and adding public Ethereum data. Sometimes users have to pay more for fuel than they choose.

This problem ultimately arose as Ethereum sought to change its process from a miner-friendly but more intensive proof of work to a faster, more efficient proof of work. In particular, the so-called London hard fork, which includes five tips for improvement, hopes to resolve this drawback.

One of the improvements, called EIP-1559, introduced a new rate to reduce the increase in ETH.

We propose to burn part of the fees charged in ETH, which puts deflationary pressure on cryptocurrencies. The changes also replace minors with consumer equipment. To this end, Ethereum requires all users to have closed at least 32 ETH to run the in-game document.

It has also removed a significant portion of ETH products from circulation, making it less similar to Bitcoin.

For CEX.IO CEO Konstantin Anissimov, growing macro-inflation offers many options for Ether, just like Bitcoin. He added that he expects the ETH / USD exchange rate to hit $ 3,000 during the financial battle.

“Under the current circumstances, the Fed has raised its balance sheet to over $ 8 trillion since early 2020,” he said.

"Lower prices are a way for traders to believe they can keep tokens at a reduced price while still complying with anti-inflation laws."

As a result, the ether increases seem to happen very quickly. According to data from South Korea-based blockchain analytics firm CryptoQuant, total ETH holdings across all crypto exchanges more than halved after prices fell from a high of $ 4,384 in the U.S. second quarter of 2021 to a minimum of $ 1,700.

All ETH insurance has been declining since September 2020. Source: Cryptoquant

Associated risks

The relationship between Ethereum and Bitcoin remains weak as ETH increases. However, Josh Arnold, a financial analyst involved with Seeking Alpha, said Ether and Bitcoin are sometimes negatively impacted. The relative efficiency of 0. ** is far from perfect.

Instead, Arnold focused on the Ether price chart pattern, claiming that the cryptocurrency formed a descending triangle pattern when it peaked in mid-May 2021. A descending triangle is usually a pattern. extension that takes a value in the direction of the previous model after assembly. time.

Triangular top-down perspective according to Josh Arnold's industry configuration. Source: TradingView

Arnold pointed out that ethereal bulls must manage their triangle of support to control their unfair rise, otherwise they will lose business side by side. He explains:

"The lower triangle's decline will look smaller than Ethereum's hitting its 2021 low and trying to find more support."

However, given Ether's resistance to the bear, Arnold is hopeful that the cryptocurrency will rise.

S&P Dow Jones Indices, the world's largest financial services provider, has announced a new cryptocurrency index to track the performance of a wide range of digital trading products.

Listed on BDM, the S&P Crypto Broad Digital Market Index tracks more than 240 broadcast digital assets and is a continuation of the company's premier cryptocurrency.

In addition to BDM, the company on Tuesday announced four other cryptocurrency metrics, each following a different level of digital trading in general. These include:

Indice S&P Crypto Large Stock

S&P Crypto BDM Ex-MegaCap 지수

S&P Crypto BDM Ex-LargeCap 지수

Indice S&P Crypto Big-Cap Top Big-Cap

All indices relying on price data cryptocurrency analysis data provided to Lukka to determine the makeup of their measurement model.

Peter Roffman, Global Director of Innovation and Strategy at S&P Dow Jones Indices, said: “The expansion of our family-owned digital index business offers one of the largest expansions in current assets, divided by capitalization stock market… reduced.

S&P Dow Jones Indices first announced its goal of tracking cryptocurrency prices by December 2020. The index that tracks Bitcoin and Ethereum prices began in May of this year.

By identifying cryptocurrencies and creating price metrics that traders can use, the Dow brings a new level of legitimacy to the growing digital trading industry. For many cryptocurrency investors, the widespread recognition of Wall Street could drive the market to new heights in terms of adoption and value.