STEEM/NAIRA ANALYSIS]:- My Naira /Steem VS My Steem /Naira|| (MNMS Week #15
A shot from Bybit Exchange live chart
Welcome everyone to this weekly update where I take you through the performance of our steem, our Naira and in extension, the crypto market as it affects us.
Market Overview
STEEM/USDT Price actions
Steem/Naira price actions
Steem/Naira Statistics
The Market Outlook
I would be looking at how BTC has performed in the week as it has a major influence in the entire crypto market.
BTC/USDT
A shot from Bybit Exchange live chart
During the week, BTC maintained its rising from the previous highs it recorded last week. Recall that BTC closed the previous week at $63,581.20. It has recorded another high this week rising from $63, 581.20 to $65,850.14 having a cumulative price increase of $2,502.17 representing a 3.96% increase.
Also in the week, the following assets had various fluctuations in their prices as follows:
ETH/BTC Fall From 0.041256 to 0.040626
SOL/BTC From 0.0022766 to 0.0023836
BTC/USDC From $63,584.63 to $65,867.01
STEEM/USDT
A shot from Bybit Exchange live chart
Just like other assets that gain increase in their prices, steem has held unto its previous week's rise as well. Closing low at 0.1885 on Sunday last week, it has moved up to 0.1958 on Saturday 28 September 2024. It made a price increase of 0.0073 steem that reflects 0.23% increase.
Let's see what happens to the steem/Usdt pair in the coming month.
Steem has kept making gains over the naira during the week. On the 22nd September 2024, steem closed lower at N306.450 and currently now at N326.83 . This steady rise seems to mean that a bullish strong steem might be seen in the last quarter of this year.
Market Capitalisation
154,800,000,000 NGN
Fully Diluted Valuation
154,800,000,000 NGN
24 Hour Trading Volume
24,180,000,000 NGN
Circulating Supply
472,547,950
Total Supply
472,610,408
*Last 24Hr Closing Price"
Steem/Naira: N326.830
As the Year is gradually coming to an end, expectations are high that the crypto market would bounce back from its crash. The US upcoming presidential election will also add some influence in the market owing to Trump"s support for crypto.
Historically October has been recorded to be the month when the market begins to see bullish decisions that will take prices to roofs. History they say, repeat itself so traders are eagerly waiting to see this happens.