How the Fab Five Fared
Since the previous day, the five most-watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of -3.21%. Leading the way was Ethereum, whose price is now around $183.56 USD, which yielded holders a return of -2.49% from the day prior. As for the worst-performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 5.1%, which drove its price to around $72.995837 USD. None of the coins had up days, which indicates a wave of bearishness befell the sector as a whole.
Key Technical Moves
None of the coins had moves that could be regarded as unusually large; all the moves were within the volatility ranges we’ve come to expect for each currency. Also of note for technical traders are the following developments in price action:
- If coins without a clear trend are your thing, consider Bitcoin and Bitcoin Cash. Those have not been in any clear trend over the past 14 days, and thus might be of interest to rangebound traders.
- XRP, Litecoin and Ethereum are in a clear downtrend at this time.
Insights From Transaction Data
Ripple recorded 860,513 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 24% 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. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $44,025,192 US dollars. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $178.26 billion US dollars. That’s about 68.11% of the value of all circulating cryptocurrencies. To put that in perspective, we should note that over the past two weeks Bitcoin’s dominance percentage has been in an uptrend, leaping from 65.64% to 69.3%.
Article by SixJupiter