How Did the Fab Five Finish?
Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone down -0.37% in aggregate. Leading the way was Ethereum, whose price is now around $221.01 USD, which yielded holders a return of 4.99% from the day prior. As for the worst-performing crypto out of the Big Five, yesterday that was XRP; it came in at down 4.98%, which drove its price to around $0.291402 USD. In total, two coins were up from the day prior, which is a mixed sign for the crypto sector.
Price Action to Watch
The move in Bitcoin was especially surprising; it was much larger than the normal daily trading range associated with the currency. Traders may also wish to bear in mind the following events going on regarding current price patterns:
- Seeking momentum? XRP, Litecoin, Bitcoin Cash and Ethereum have been in a clear uptrend for the past two weeks.
- If you’re looking for a coin without a clear trend — perhaps a coin with some rangebound trading opportunities — Bitcoin might be one worth considering.
- For traders viewing the 20-day moving average as a key level signalling momentum, keep an eye on Bitcoin. It’s getting quite close to its 20-day moving average.
Insights From Transaction Data
Ripple had more transactions recorded on its chain yesterday than any other coin; to be precise, it had about 34% more transactions recorded than Ethereum, which was the runner up for the day in terms of transactions recorded. 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. Bitcoin Cash was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $77,691,344 US dollars.
Article by SixJupiter