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 -2.12%. The best performer of the bunch was Bitcoin, which went down 1.06% and currently is sitting near $8719.63 USD. On the flip side, the worst performer was Bitcoin Cash coming in at -3.78%; its price is now near $327.27 USD. In total, none coins were up from the day prior, which indicates a wave of bearishness befell the sector as a whole.
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. Traders may also wish to bear in mind the following events going on regarding current price patterns:
- If you’re looking for a coin in a solid uptrend, then there is some good news: all the coins are in an uptrend. So take your pick. 🙂
What Does Transaction Data Tell Us?
Ethereum had more transactions recorded on its chain yesterday than any other coin; to be precise, it had about 107% more transactions recorded than Bitcoin, which was the runner up for the day in terms of transactions recorded. Ethereum’s transaction fee was also less than Bitcoin’s, suggesting transaction fees might be a key reason why users are preferring Ethereum. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $1,088,904,064 US dollars. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $161.26 billion US dollars. That’s about 66.21% 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 unclear trend, oscillating between 66.21% to 69.22%.
Article by SixJupiter