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Bitcoin up almost 3% as cryptos rebound slightly from previous day’s big fall

After yesterday’s decline in Bitcoin price, the markets have taken a moderate turn to take the market into the green.

Written by SixJupiter Published on

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 1.84%. The best performer of the bunch was Bitcoin, which went up 2.97% and currently is sitting near $11680.11 USD. As for the worst performing crypto out of the Big Five, yesterday that was XRP; it came in at up 0.15%, which drove its price to around $0.333842 USD. All five of the coins had up days, which is nice for those bullish on cryptocurrencies.

Crypto brokers to trade the currencies mentioned here: CoinDirect, Gate, Yobit, Stex, Binance, DDEX

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

  • Currencies without a clear trend over the past two weeks are Bitcoin and Ethereum. If you prefer choppy, rangebound markets, they might be up your alley.
  • XRP and Bitcoin Cash are in a clear downtrend at this time.

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Insights From Transaction Data

Ripple recorded 1,125,829 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 16% 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. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $134,340,640 occurred on Bitcoin’s chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $207.81 billion US dollars. That’s about 65.35% of the value of all circulating cryptocurrencies. Its dominance has been in an uptrend over the past two weeks, climbing from 59.94% to 65.35%.

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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