STEEM/NAIRA ANALYSIS]:- My Naira /Steem VS My Steem /Naira|| (MNMS Week #14)
... Still a stronger steem
Within the week there has been some ups and downs in the crypto market as some tokens made gains and others made some loses. On the overall market events, the market has really improved especially in the.
As normal, I'm bringing up some of the events that really impacted the market during the week under review.
Market Overview
STEEM/USDT Price actions
Steem/Naira price actions
Steem/Naira Statistics
The Market Outlook
I present the general market performances by looking at how the BTC, the most influential crypto performed in the week. From there, I look how its performance has effected other crypto assets.
BTC/USDT
A shot from Bybit Exchange live chart
During the week, BTC gained substantially as it rose from Monday's closing low of $58,211.04 to its current high of $63,347.97 on Saturday 21st September 2024. Cumulatively, during the week BTC gained $2,861.51 that reflects 4.73% increase in BTC price. Other assets with increase in their prices include:
ETH/BTC From 0.038316 to 0.041256
SOL/BTC From 0.0021762 to 0.0023599
BTC/USDC From $58,214.04 to $63,362.30
STEEM/USDT
A shot from Bybit Exchange live chart
During the course of BTC rise, steem got its own share of price gains. Looking at the chart above, steem rose substantially from its closing on Monday 16 September 2024. On Monday the 16, it closed at 0.1605 and rose to the high of 0.1958 on Saturday 21st September 2024. Cumulatively, this represents a price increase of 0.0353 and a percentage increase of 20.32%.
STEEM/NAIRA
The steem has also gained an appreciable price increase against the naira. On 18th September steem lost against Naira closing at a low of N267.750 and then recovered in the following days. On 19, 20 and 21st September steem has been on the rise to N304.760 per steem.
Market Capitalisation
143,600,000,000 NGN
Fully Diluted Valuation
143,600,000,000 NGN
24 Hour Trading Volume:
23,310,000,000 NGN
Circulating Supply
471,971,157
Total Supply
472,037,353
Last 24Hr Closing Price
Steem/Naira: N315.030
Source
As the year is gradually coming to an end, the crypto market is expected to herald some more recovery. But this could materialized in the absence of any other political or socioeconomic activities that could negatively impact the market.
There is also an upsurge in development of new crypto assets as many of the projects have started listing their tokens on various exchanges. Others are working towards getting listed and traded before the year runs out.
I wish you all more steems in your wallets this week.