Bitcoin price rebounds to 37K, trading volume generally slowing down, top 100 cryptocurrencies with price increases: SNX, AR, NEAR

On November 20th, around 2 AM, Bitcoin gradually rose, breaking through $37,000 at 7 AM with a 2% increase in the past 24 hours; Ethereum also surpassed $2,000 again. Among the top ten cryptocurrencies by market capitalization, LINK saw the highest daily increase, but most cryptocurrencies have fallen compared to 7 days ago, with only SOL and DOGE showing gains.

Trading Volume to Market Cap Ratios Decline Across the Board

Bitcoin's "trading volume/market cap" ratio is 0.018, while Ethereum's ETH is 0.03, showing a decline from the previous peak period of 11/2 BTC 0.03 ETH 0.05.

The highest "trading volume/market cap" ratios are seen in recently surging assets SOL and LINK: 0.079 and 0.08 respectively. The lowest is TON at 0.003, indicating a significant gap between its market value and trading activity, far below the top ten cryptocurrencies.

Top 100 Coins with Highest Increases: SNX, AR, NEAR

Within the top 100 coins, Synthetix SNX saw a 21% increase, Arweave AR rose by 17%, and NEAR NEAR surged by 16% in the past 24 hours; their "trading volume/market cap" ratios are 0.13, 0.085, and 0.13 respectively.

Synthetix Announces Launch of Perps V3 on Base Chain Today

Exciting news! Perps V3 is on the horizon, set to build upon the remarkable success of V2. Get ready for its upcoming launch on @BuildOnBase via the Andromeda Release.

V2 brought a paradigm shift to onchain perps, focusing on risk management and introducing now-standard features… pic.twitter.com/z2a7U9N4nv

— Synthetix ⚔️ (@synthetix_io) November 19, 2023

No Major Official News from Arweave Lately

Community discussions note a recent surge in storage transactions on Arweave.

Yesterday broke the record for highest daily transaction count on Arweave.

The last 3 weeks all broke the prior records on weekly usage.

But even cooler: Fees are completely flat and will stay that way.

Arweave will never need a fee market because it _actually_ scales. pic.twitter.com/KDNEUT7wp2

— 🐘🔗 sam.arweave.dev (@samecwilliams) November 15, 2023

Near Introduces Data Availability Layer Solution NEAR DA

The recent launch of the popular "data availability layer" solution NEAR DA aims to enhance performance for Ethereum and its Rollup, competing with Celestia, which earlier conducted an airdrop of TIA tokens.