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Cryptocurrency Report.

One Cryptocurrency Sustaining Below the Resistance Levels- Ethereum (ETH)

18 April 2024

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Ethereum (ETH) decentralised blockchain network enables users to carry out transactions, collect interest on their holdings through staking, and use and store nonfungible tokens (NFTs). ETH has a market capitalization of ~USD 357.12 billion (as per TradingView as of April 18, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 174.86 points (~3.72%) to 4532.26 for the week ending April 12, 2024. In the current week starting April 15, 2024, the index is trading with negative momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing bearish momentum for the current week.

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