As per CoinMarketCap data, the majority of altcoins, such as SHIB, Cardano and Terra (LUNA), are presently adding value after Bitcoin rose past the $41,000 mark. A larger chunk of this category of assets has also gone on to recoup losses made in the prior week, with most tokens significantly up in the last seven days. On-chain analytics firm Santiment noted this in its latest tweet:
📈 This past week was a roller coaster for #crypto prices. However, after $BTC bumped prices market-wide after a rally to end the week, assets’ weekly returns are now mostly a sea of green. $MANA, $LEO, $XTZ, $QNT, and $YOUC led the charge among top coins. https://t.co/3iDZdZiszI pic.twitter.com/K3vzZld1RS
— Santiment (@santimentfeed) February 5, 2022
Shiba Inu has ticked higher since Feb. 3 from lows of $0.000020. At the time of publication, SHIB was trading hands at $0.000023, up 9.70% in the last 24 hours, according to CoinMarketCap data. In the last 24 hours, Shibburn reports there have been a total of 17,081,193 SHIB tokens burned and 10 transactions. So far, a total of 410,302,031,022,757 SHIB tokens (41.0302%) have been burned from the initial supply of one quadrillion.
Cardano (ADA) is standing higher above lows of $1.01 reached on Feb. 3. At press time, ADA was changing hands at $1.16, up 8.51% in the last 24 hours as per CoinMarketCap data. U.Today earlier reported that the balance held by addresses with 1-10 million ADA has increased by 40.65% in January, as IntoTheBlock noted. It states that these addresses now collectively hold 24.87% of the circulating supply, which is presently 33.57 billion ADA.
Terra (LUNA) is gradually recovering after dipping to lows of $43.49 on Jan. 31. LUNA presently trades at $56.81, up 10.86% in the last 24 hours per CoinMarketCap data.
Bitcoin recovers above $41,000
Bitcoin (BTC) and alternative cryptocurrencies, or altcoins rallied, reversing losses from a few days ago. The altcoins outperformed as Ethereum rose near the $3,000 mark.
Several indicators, like the Crypto Fear & Greed Index and the Relative Strength Index (RSI), have predicted negative extremes in the crypto market in recent weeks. However, some analysts predicted that a buyers’ comeback, similar to what happened following Bitcoin’s death cross in 2021.
The Crypto Fear and Greed Index is presently in ”fear,” an improvement on yesterday’s extreme fear.