How the Fab Five Fared
Since the previous day, the five most-watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of 0.33% — so it was essentially a flat day. Out of the aforementioned five, Ethereum gave cryptocurrency investors the best daily return; it was up 1.16%. In terms of the worst performer, that distinction goes to Bitcoin Cash, which reported a day-over-day return of -0.57%. Three of the coins had slightly up days, though as noted all of them hovered close to zero anyway.
Key Technical Moves
None of the coins had surprising moves, in the sense that the prices fluctuated within the typical range they have been fluctuating between over the past few weeks. Traders may also wish to bear in mind the following events going on regarding current price patterns:
- Trend traders rejoice! All five of the coins are in a clear, solid uptrend over the past two weeks. Could this suggest an opportunity to buy pullbacks within this trend on shorter timeframes?
Insights From Transaction Data
Ethereum recorded 803,843 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 116% over Bitcoin, which had the second most transactions recorded on its chain. Bitcoin’s position here as runner up is notable, as over the past few weeks it is Ripple that has typically been second to Ethereum in terms of daily transaction volume. Ethereum has a transaction fee less than the transaction fee of Bitcoin, which in isolation may indicate that transaction fees might be a key reason why users are preferring Ethereum. For the third day in a row, Bitcoin Cash was the coin with the largest transaction across all blockchains; the largest transaction on its chain was valued at $100,844,184 US dollars.
Article by SixJupiter