- The staked ETH is now valued at almost $28 billion.
- Binance Coin established a descending triangle while testing $445 as support.
Let us look at the top 3 coins and the period since their peak.
Bitcoin (BTC)
Despite recent market volatility, Bloomberg’s senior commodities analyst believes Bitcoin (BTC) and Ethereum (ETH) will climb in 2022. Mike McGlone argues BTC and ETH have excellent foundations to grow on. In 2022, he expects Bitcoin to hit $100,000 and Ethereum to hit $5,000.
Bitcoin, according to McGlone, is in a “consolidating bull market,” and the US Federal Reserve’s new policies will help BTC. Officials at the Federal Reserve have said they would reduce asset purchases and boost interest rates next year to combat inflation. According to CoinMarketCap, bitcoin has been in a horrible downtrend since its all-time high on Nov. 10 last year.
Ethereum (ETH)
Over 8.9 million ETH have been staked. The staked ETH is now valued at almost $28 billion. The entire amount of the ETH 2.0 deposit contract has risen to 8,965,186 ETH, according to statistics from crypto analytics site Glassnode.
According to CoinMarketCap, Ethereum has now been down for 2 months from its all-time high on Nov. 16 last year.
Binance Coin (BNB)
Liquidity always attracts the price. That’s why, over the last two months, Binance Coin has been challenging the $510 support level, exhausting buyers. Binance Coin established a descending triangle while testing $445 as support; however, the price fell below it.
In October, the sellers were absorbed at $445. In reality, the price reacted strongly and rebounded off the level. It rose to $670 in the days that followed. According to CoinMarketCap, it’s been nearly 8 months since BNB’s all-time high on May 10 of last year.
