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Price Analysis

Bitcoin Cash up just 0.46%, while other top cryptos down for the day

While the leading cryptocurrency tokens are showing slight red dips, Bitcoin Cash is in the green with a mild increase in price.

Written by SixJupiter Published on

How the Fab Five Fared

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone down -0.58% in aggregate. Leading the way was Bitcoin Cash, whose price is now around $331.74 USD, which yielded holders a return of 0.46% from the day prior. On the flip side, the worst performer was Litecoin coming in at -1.57%; its price is now near $85.47968 USD. One of the coins had up days, which indicates almost the entirety of the sector as a whole moved down.

Crypto brokers to trade the currencies mentioned here: Coindirect

Price Patterns to Monitor

Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Technical traders may also wish to note the following developments in price action:

  • Seeking momentum? Bitcoin has been in a clear uptrend for the past two weeks.
  • Bitcoin Cash and Ethereum don’t have a clear trend at this time, at least on a two-week timeframe.
  • If coins in a clear downtrend are your thing, consider XRP and Litecoin. Those have been in a clear downtrend over the past 14 days, and thus might be of interest to trend followers comfortable with short selling.

Buy XRP using your local currency

Insights from the Blockchains

Ripple recorded 837,116 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 19% over Ethereum, which had the second-most transactions recorded on its chain. Ripple’s transaction fee was also less than Ethereum’s, suggesting 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 $260,707,712 US dollars. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $202.71 billion US dollars. That’s about 68.46% of the value of all circulating cryptocurrencies. Note that Bitcoin’s dominance level has been in an uptrend, stepping from 64.3% to 69.3% over the past two weeks.

Article by SixJupiter

Written by

SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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