Digital currencies are becoming an increasingly popular asset. Keep in mind that cryptocurrency rates are volatile, their market is less stable than for other assets, and investments are largely speculative. The list of all cryptocurrencies is presented in the form of rankings. In each of them, virtual coins are ordered from the largest to the smallest in terms of market capitulation - because it determines their size. Note that the price of a cryptocurrency itself does not reflect its true value, which can be judged by multiplying the number of coins in circulation by the current price. The market capitalization of cryptocurrencies is very helpful in assessing your investment risk. It is worth knowing, however, that it cannot be precisely calculated, because the so-called dead cryptocurrencies - these are coins to which the user has lost access. The cryptocurrency market is significantly different from traditional markets as it is traded continuously 7 days a week, 24 hours a day. Traditional exchanges only operate on weekdays, only at certain times, usually close on Friday afternoon. Are you wondering how the cryptocurrency markets work non-stop? Well, digital resources operate in decentralized networks based on blockchain technology, which is why they can function continuously 365 days a year. Numerous observations have confirmed that cryptocurrency prices fluctuate the most during the weekends, when traditional markets are closed. Some explain this tendency by the fact that this is when many players have time to calmly analyze the market, develop an investment strategy and take appropriate action.
Cryptocurrency rates monitoring services most often quote their prices in US dollars. A great convenience is also the fact that some of them allow you to filter cryptocurrency rankings according to the personal preferences of users. A very important thing that is worth paying attention to is the fact that cryptocurrency rates differ from one exchange to another. This is because the virtual coin prices depend largely on the turnover on the trading platform in question. This means that there is no one predetermined price for a given cryptocurrency. Interestingly, the differences in cryptocurrency rates on individual exchanges can be so significant that investors are able to use them for arbitration - it consists in buying a given cryptocurrency on the exchange for a lower price and reselling it on another trading platform for a much higher price. Many websites have been created that offer tracking aggregate data from various cryptocurrency exchanges, in this way the user can compare the current cryptocurrency rates on various trading platforms and choose the best one for himself.
What influences the cryptocurrency rate?
It is impossible to clearly define what determines the cryptocurrency rates. Beginning investors are very often guided by FOMO, they buy given coins looking only at their prices. This is a very unwise strategy. It leads to the fact that they buy virtual currencies on the hill, which ends with quite unpleasant consequences. It is worth diversifying your investment risk, so you should not put everything on one card. You need to do a solid researcher of both trading platforms and coins in which you intend to invest. Cryptocurrency prices very often go up when a given project gets closer to an important event. People then panic and panically buy digital currencies from the market. This type of situation can be observed on the example of the TRON (TRX) cryptocurrency. Justin Sun (CEO of TRON) controls the market very skilfully. His marketing moves are reflected in TRX's price movements. It is worth observing such dependencies in order to draw conclusions from them for the future. The head of the company, or any well-known and respected public figure who shares his opinions on a given project, very often influences cryptocurrency price movements. People often succumb to authority, follow the opinion of famous investors, and they may not always be right. A few comments from the idols' mouths can prevail in purchasing decisions made by consumers. The cryptocurrency quotes are very often influenced by the media, or more precisely, by the information they release. It is various types of communicators that set the mood among investors. The information they provide about the cryptocurrency course directions is often exaggerated. It is a communication channel that most often sows panic, especially among unaware novices, hoping for quick profits. So let's keep a cool head and learn to select certain information so as not to fall victim to FOMO.
Cryptocurrency rates also depend on the movements of the so-called Smart Money. As is well known, more than half of the turnover in the foreign exchange market is generated by institutional investors. It is a small group in terms of numbers, but they enter the market with a very large capital. Smart Money can influence cryptocurrency price movements regardless of information coming from the market. Of course, it is difficult to know who is really among the big players. Smart Money movements can be seen by looking at the volume at the bottom of the cryptocurrency chart. It is he who provides key information: where the Smart Money capital is invested and shows their activity in a specific time frame. An insightful trader is able to see forms of price manipulation due to changes in the volume. It is worth knowing that breakouts of prices not confirmed by volume should not be trusted. In order for the price increase to be "healthy" it must be confirmed in the form of increased turnover at the breakout.
Cryptocurrency Quotes
The most popular platform for checking cryptocurrency rates online is CoinMarketCap. Of course, all cryptocurrency tracking services operate on the same principles. On the left side there is the name of a given cryptocurrency in the ranking. Next to it, there is an abbreviation of the name of the virtual coin, e.g. for Bitcoin it is BTC. Next we see the level of market capitalization, which is the value that all the coins in the market have. The following is the current cryptocurrency price (it is averaged based on aggregated prices from various cryptocurrency exchanges). We then see the volume (i.e. the turnover in the last 24 hours). The next column shows the percentage change in the cryptocurrency rate (in the last 24 hours). At the end, we can find information on the number of coins in circulation, and then a price line chart for the last seven days.
Cryptocurrencies rates and forecasts
Current cryptocurrency rates can be monitored in real time. As mentioned above, it is impossible to predict exactly which direction the price of the virtual coin will take. However, it is worth analyzing the online cryptocurrency quotes to at least to some extent reduce the risk and make informed investment decisions. Live cryptocurrency rates can be easily traced on the charts, they show all price movements in real time. Cryptocurrency charts are a very useful tool in the technical analysis of cryptocurrencies. Cryptocurrency forecasts are very important information for all investors. By using annual, monthly, weekly or daily quotes of cryptocurrencies, traders from around the world try to make the best investment decisions. A daily dose of news from the world of cryptocurrencies, prepared by the Tokeneo.News team, will ensure that you will always be up to date with what is happening on the market. Our information service will provide you with constant access to the current cryptocurrency quotation online - quickly, conveniently and without leaving your home.
