1Mon·

Crypto capital

$BTC (+1.35%)
$ETH (+1.06%)
$XRP (+0.28%) ... capital is currently flowing into other (alt)coins here $PERP (+4.87%) $origin protocol $chainlink $YFI (+2.53%)
$EOS (-6.68%) ...or just normal fluctuations 🤔 can't quite put my finger on it right now...hm

Is there a tool / source where you can classify this?

I know far too little about cryptocurrencies, but the post itself should give that away 🙋‍♂️😬

7 Comments

Brixxi@Brixxi13

1Mon

This is not a fluctuation but quite normal

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Ph1l1pp@Ph1l1pp

1Mon

smaller mcap -> less liquidity needed to pump illiquid coins. Especially if they are heavily shorted

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Pedi@Pedi

1Mon

With the exception of stablecoins, cryptocurrencies are generally highly volatile asset classes with a corresponding level of risk. From an economic and financial market perspective, their prices are predominantly based on supply and demand as well as acceptance in markets, countries and among users. Accordingly, strong price fluctuations, sometimes in the double-digit percentage range, are not uncommon. Many cryptocurrencies correlate quite strongly with each other. This means that when one goes down, the other usually goes down too and vice versa. It is very strongly influenced by news etc. than other assets. News is therefore the most important thing for you.

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Ph1l1pp@Ph1l1pp

1Mon

@Pedi News is not the most important thing, especially with illiquid coins.

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Pedi@Pedi

1Mon

@Ph1l1pp Please consider his level of knowledge, so it is the most important thing for him unless he is more deeply involved in finance and cryptocurrencies (IT). Especially at the beginning it is really difficult to see through who is "manipulating" what and where with illiquid coins and ultimately with BTC, ETH etc. it always comes down to supply and demand. That's what I meant in my original post based on his level of knowledge. The mechanisms behind it (burn, staking, macroeconomic influences, news etc.) only influence how supply and demand will develop, NOT that they are independent of it. But if someone is new, you can show them roughly where demand comes from or why supply changes without turning it into a finance seminar. They would need technical, economic and financial knowledge.

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bull_investor_vkmhk@bull_investor_vkmhk

1Mon

@Pedi For me, the correlation is clear, sorry. At the moment, BTC and ETH are up again on the day and surprise surprise, the aforementioned $PERP and $OGN have fallen again...yesterday it was the other way around...

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bull_investor_vkmhk@bull_investor_vkmhk

1Mon

@bull_investor_vkmhk it's nice to see on a weekly basis that while BTC tended to lose ground, the two rose significantly...the fact that it was $PERP and $OGN that rose significantly was probably a coincidence. But $YFI $GRT and others also rose in the week when BTC and ETH fell...there is a connection, I think.

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