How the Fab Five Fared
Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone down -3.79% in aggregate. The best performer of the bunch was Litecoin, which went down 2.97%. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of -4.88%. None of the coins had up days, which indicates a wave of bearishness befell the sector as a whole.
Key Technical Moves
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:
- If you’re looking for a coin in a solid uptrend, then there is some good news: in spite of it being a down day across the board, all the coins remain in an uptrend. So take your pick. 🙂 As such, for those who wish to ride the trend, this could be an opportunity to buy a dip.
Insights from the Blockchains
As has typically been the case for some time now, Ethereum recorded 798,155 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 36% over Ripple, which had the second most transactions recorded on its chain. Ethereum’s transaction fee is greater than Ripple’s transaction fee; in and of itself, this may imply consumers are opting for Ethereum in spite of its higher fees. Bitcoin Cash was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $100,385,120 US dollars. This is now the second day in a row that Bitcoin Cash, rather than Bitcoin itself, has been the chain reporting the largest transaction in the crypto space. This development may be something to continue monitoring.
Article by SixJupiter