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Price Analysis

Bitcoin Cash up 3.29% as top five cryptos all rally again

Bitcoin Cash is showing bullish trends as the cryptocurrency market sees a rally which puts the top five tokens in the red.

Recap of the Top Five Cryptos

Since the previous day, the five most-watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of 2.06%. Out of the aforementioned five, Bitcoin Cash gave investors the best daily return; it was up 3.29%. In terms of the worst performer, that would be XRP, which reported a day-over-day return of 1.33%. All five of the coins had up days, which is nice for those bullish on cryptocurrencies.

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Key Technical Moves

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. Technical traders may also wish to note the following developments in price action:

  • These coins — XRP, Litecoin, Bitcoin and Bitcoin Cash — have been in a clear uptrend for the past two weeks.

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Insights from the Blockchains

The blockchain that saw the most transactions recorded on its blockchain over the past day was Ethereum; its 958,756 transfers added was about 6% greater than the transactions recorded on Ripple, which was the runner up for transactions logged on its chain over the past 24 hours. Ethereum’s transaction fee was also greater than Ripple’s, suggesting consumers are opting for Ethereum in spite of its higher fees. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $39,543,024 US dollars. Bitcoin has the largest market capitalization, which may shed insight into why it has been able to attract the largest transactions to its chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $ 154.2 billion US dollars. That’s about 55.7% of the value of all circulating cryptocurrencies.

Article by SixJupiter