Cryptos Stumble, But Litecoin Surprises With $33 Million USD Transaction On its Chain

litecoin

How the Fab Five Fared

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin Bitcoin Cash, Ethereum, and Ripple — were down -1.38%. Leading the way was Litecoin, whose price is now around $74.51 USD, which yielded holders a return of -1.12% from the day prior. In terms of the worst performer, that would be Bitcoin, which reported a day-over-day return of -1.85% — a move that puts its price around $9988.38 USD. Out of the five coins observed here, none cryptocurrencies were up — which indicates a wave of bearishness befell the sector as a whole.

Interested in trading these currencies? Some brokers to try: CoinDirect, Gate, Yobit, Stex, Binance, DDEX

Key Technical Moves

Bitcoin had an especially unusual move, in the sense that the move was much larger than its normal daily trading range. What caused this move might be worthy of further investigation. Technical traders may also wish to note the following developments in price action:

    Looking for an uptrend? The most reliable uptrends can be found in XRP, Litecoin and Ethereum.

  • 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.
  • Bitcoin Cash is getting close to its 20-day moving average; its current price is 311.97, and its 20-day moving average is 304.4625.

Insights from the Blockchains

Ripple recorded 1,002,281 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 68% 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. Litecoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $33,032,814 US dollars.

Related Articles

CBDC adoption: Russia enters final phase to test digital ruble

Russia is in the final phase of testing a central bank digital currency (CBDC), which will be used for both national and international...

What exactly is DeFi? Decentralised finance explained

DeFi is a set of technologies that enables people to manage their funds on a peer-to-peer basis and it's changing the way money can be used.

Expansion: Coinbase will be launching in the Netherlands

As part of its global expansion, Coinbase has announced that it has been granted regulatory approval from the Netherlands' national bank.

Is Bitcoin better than retail estate as an investment?

According to MicroStrategy CEO Michael Saylor, Bitcoin presents a much better long-term asset than property.

See All