Here comes another week to look into look into the market performances within the week. We would be looking at major activities that influenced the market and the carrying out some analysis of the market from the broader perspective down to how the steem and the naira has performed. Let's go!
Market Overview
STEEM/USDT Price actions
Steem/Naira price actions
Steem/Naira Statistics
The Market Outlook
Cryptocurrencies are saw mixed price action in early hours of Saturday's trade. It held Bitcoin down to 3% in the last 24 hours to $54,360. Other cryptocurrencies also fell, seeing Ethereum, Dogecoin and Pepe having losses of over 4% each. Some few crypto assets like Algorand, BONK and Optimism traded on bullish green having gains up to 4%.
Stocks market indices, which also weighs some influences in crypto market, earlier fell as the markets seemed to show a "wait and see" position, with investors watching the larger outcome of the top Fed official's remarks.
The Bitcoin along with some major cryptocurrencies, closely follow the global stocks market events currently.
Compared to the larger market BTC/USDT, steem has remained strong in week under review. At the current price level, steem is trying to recover from about 0.0054 steem it has lost during the week. In week, it traded a four bearish candles and three bullish candles which reflects just about 2.87% loses it made.
Also in the week, steem was and is still attempting to recover its losses against the Naira. On Wednesday 4th September 2024, steem touched the low of N230 per steem but was able to push up and close above the opening at N257.220. Although it later pushed down to N245, on Friday 6 September 2024, it was strong enough to push back up and close above its opening at N253.200 on Saturday 7th September, 2024.
Market Capitalisation
120,400,000,000 NGN
Fully Diluted Valuation
120,400,000,000 NGN
24 Hour Trading Volume:
16,160,000,000 NGN
Circulating Supply
470,891,737
Total Supply
470,941,123
Last 24Hr Closing Price
Steem/Naira: N253.200
The crash in the crypto market seems unending. But then, analysts has researched to find out that the market is characterized by dips in the months of September and then, it could be followed by increase in October and November which might spark a bull run.
Compare to the general market condition, steem is somewhat strong. Holding more steem at current prices could be beneficial in next few months if the expected price sets in.
Do enjoy a prosperous week!
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