Thursday, December 1, 2022
    HomeMarketBNT is up by more than 2% in the last 24 hours

    BNT is up by more than 2% in the last 24 hours


    The cryptocurrency market carried out excellently over the previous 24 hours as main cash and tokens recovered from their current losses. 

    The cryptocurrency market recorded big losses final week, with billions of {dollars} worn out from the key cash and tokens. The overall market cap dropped beneath the $1 trillion mark for the primary time this 12 months every week in the past.

    Regardless of the current bearish efficiency, the crypto market carried out effectively over the weekend. The cryptocurrency market is up by greater than 8% within the final 24 hours, with the whole market cap now round $900 billion.

    Bitcoin, the world’s main cryptocurrency, is buying and selling above $20k once more after dropping in direction of the $17k assist degree a couple of days in the past. In the meantime, Ether maintains its value above $1,100 after including greater than 9% to its worth within the final 24 hours.

    BNT, the native token of the Bancor ecosystem, is underperforming the broader market in the meanwhile. BNT is up by 2% within the final 24 hours, which is beneath the whole market common in the meanwhile. 

    The poor efficiency will be attributed to the Bancor group announcing earlier on Monday that it has quickly paused Impermanent Loss (IL) Safety as a result of present market situations. Consequently, withdrawals carried out throughout this unstable interval won’t be eligible for IL safety, the group added. 

    Key ranges to look at 

    The BNT/USD 4-hour chart continues to be bearish regardless of BNT at the moment buying and selling within the inexperienced zone. 

    The MACD line is beneath the impartial zone, indicating a bearish pattern. The 14-day RSI of 41 exhibits that BNT is now not within the oversold area. 

    At press time, BNT is buying and selling at $0.530. If the optimistic efficiency continues, BNT might surge previous the $0.61 resistance degree over the approaching hours. Nonetheless, it will want the assist of the broader market to rally previous the $0.82 resistance degree. 

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