Selling pressure in the crypto market is easing, data from CoinEdition suggests

• MilkybullCrypto tweeted that the next week will be interesting in the crypto market.
• The trader shared a snapshot from Dune that showed decreasing selling pressure in the crypto market.
• In related news, the crypto market leader’s price is up 0.02% in the past 24 hours.

The Twitter user by the name of MilkybullCrypto (@MilkybullCrypto) tweeted yesterday that the next week will be interesting for the crypto market. In the tweet, the Twitter user included a snapshot of a chart from Dune showing that the selling pressure in the crypto market is almost over.

Selling pressure in the crypto market (Source: Twitter)

Meanwhile, CoinMarketCap shows that the 24-hour volume in the crypto market is around $31.26 billion. According to the Crypto Market Tracking website, this is a 42.53% drop in total daily trading volume in the market.

Furthermore, the total volume in DeFi is estimated at $3.02 billion of the total trading volume. This accounts for around 9.67% of the total volume in the market over the last 24 hours.

Stablecoin trading volume makes up the bulk of the market’s daily trading volume. At press time, total stablecoin trading volume over the last 24 hours is $27.96 billion — 89.44% of daily market volume.

In related news, Bitcoin (BTC) price is up 0.02% in the last 24 hours. This 24-hour gain added to BTC’s already positive weekly performance — taking the total gain to +2.23% over the past 7 days. As a result, the crypto market leader’s price is trading at $27,528.07 at press time.

Trading volume for BTC is down about 50.62% in the last 24 hours. This dropped the daily trading volume for BTC to $12,856,864,239. Most of BTC’s trading volume over the last 24 hours has taken place on centralized exchanges, with $12,880,690,500 traded on these centralized platforms.

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The Sell Pressure in the Crypto Market Is Fading post suggests that data first appeared on Coin Edition.

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