All cryptos rally from day prior, snapping collective downtrend

Bitcoin Ethereum

How the Fab Five Fared

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin Bitcoin Cash, Ethereum, and Ripple — have gone up 0.95% in aggregate. Leading the way was XRP, whose price is now around $0.265455 USD, which yielded holders a return of 2.39% from the day prior. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of 0.31% — a move that puts its price around $185.98 USD. Out of the five coins observed here, all five cryptocurrencies were up — which is nice for those bullish on cryptocurrencies as a whole.

Crypto brokers to trade the currencies mentioned here: Coindirect

Price Patterns to Monitor

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None of the coins had surprising moves, in the sense that the prices fluctuated within the typical range they have been fluctuating between over the past few weeks. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • Bitcoin doesn’t really have a clear trend one way or the other. If you abide by the adage “the trend is your friend” well, then Bitcoin is no friend of yours. 🙂
  • Currencies in clear downtrend over the past two weeks are Litecoin, XRP, Bitcoin Cash and Ethereum. If you prefer the bear markets, they might be up your alley.

Insights from the Blockchains

Ripple recorded 912,999 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 29% over Ethereum, which had the second-most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $57,724,736 occurred on Bitcoin’s chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $185.97 billion US dollars. That’s about 68.64% of the value of all circulating cryptocurrencies. Its dominance has been in an unclear trend over the past two weeks, ranging between 66.15% to 69.3%.

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