Imagine the recent massive sale of cryptocurrency

 Imagine the recent massive sale of cryptocurrency

      A little analysis on the massive sale of cryptocurrencies on December 4th and how it affected the markets.

      It is impossible to ignore what is happening in the cryptocurrency industry at the moment.  An ideal way to analyze data and, above all, find opportunities.

  It can be said that it is practically impossible to ignore what is happening in the market today, the huge sale of cryptocurrencies.  It's very exciting to go through everything we can achieve with data and take advantage of some of the opportunities.

  The markets have recently been exposed to a wave of risk reduction due to several potential factors:

      Omicron concerns and slowing US job growth

      The Fed is speeding up the adjustment process, because inflation is no longer considered “temporary.”

      Evergrande warns that he may go bankrupt.

      Billionaires like Musk and Bezos decided to sell their shares.

      Estimated leverage ratio of Bitcoin's impact on ATH.

      Settle Cryptocurrency to generate income before Christmas dates.

      Indicator of greed and nutrition encoded in the case of intense fear.

      Low liquidity conditions.

  But before that, the crypto industry was on the rise, thanks in large part to all things metaverse, NFT, Web3, DAO, and DeFi 2.0;  Although it remains to be seen how the cryptocurrency will behave after the euphoria wave.

  For this purpose, we took price data, charts and fundamental data from CoinMarket for free using Python requests and beautifulsoup, instead of using the CMC API.  We started when the price of BTC was $47,543, which was a bit higher when the situation stabilized a bit.

  We use drawing because it is very easy to use.  We also used PIL to be able to store currency image objects for parcels and these were categorized based on the market capitalization scale.

  The 24-hour daily rate change was plotted against the 24-hour T price from the 30-day maximum expressed as a percentage;  The idea was to visualize how far away we are from the recent rallies before the sell-off.  We also add stablecoins to get a better idea of ​​others.

  We may come across a lot of information and make different observations, especially if we do additional research:

      The large L1 coins fell further: Ethereum, Polygon and Solana are located near the yellow line area, Tron and Bitcoin are positioned near the orange area;  XRP, Algorand and Litecoin are in the red, opposite VeChain and Kadena which were very close to the black.

      Also applies to NFT game currencies: Axie and Sandbox are in the orange zone, Decentraland and Enjin are in the red zone versus Wax near the black zone.  Theta was surprised by her poor performance.

      DeFi tokens fell further: Uniswap, Chainlink, Dai, Fantom, and Loopring near the red area versus Avax, Tezos, and Maker near the orange area.  On the other hand, PancakeSwap and Wrapper BTC are close to the dark zone.

  The results above may show that the bearish momentum is very strong in the categories that, until recently, were very popular.  We are all clear that the idea of ​​the metaverse is very fashionable for NFT games;  The gas price hike in ETH succeeded in carrying a huge wave of support in the other L1s.

      CEXs are down a bit less when compared to other currencies despite their niche: Kucoin, Huobi, FTX and Voyager, they are down between 10% and 15%.

      The vast majority of coins are down 30% from their recent highs;  Many others have fallen by at least 10%.

      Little hats see big swings in falling prices.  Nucypher, Velas, Nano and DigitalBits saw a decrease of up to 15%, while other companies such as SKALE, Storj and dydx saw a decrease of 25%.

  We're sure you can get more from this, it's an excellent starting point for a more in-depth analysis.