Litecoin Gives Back Some More, Jumping 4.44%

Litecoin

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 1.59%. Out of the aforementioned five, Litecoin gave investors the best daily return; it was up 4.44%, which has its price now near $42.44 USD. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of 0.06% — a move that puts its price around $134.33 USD. Out of the five coins observed here, four cryptocurrencies were up — which is a bullish sign for the sector as a whole.

Simplify crypto trading. Track and trade your entire portfolio across ten different exchanges using Quadency.


Key Technical Moves

It should be noted that the price behaviour of XRP and Litecoin was especially curious, as their moves yesterday were much larger than their respective normal daily trading ranges. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • If coins without a clear trend are your thing, consider XRP, Litecoin and Bitcoin. Those have not been in any clear trend over the past 14 days, and thus might be of interest to rangebound traders.
  • Bitcoin is getting close to its 20 day moving average; its current price is 7357.5, and its 20-day moving average is 7205.28.
  • It’s also worth noting that we had multiple coins — XRP and Litecoin — cross their 20-day moving averages in the preceding day. This is a level often watched by momentum traders.

Insights From Transaction Data

The blockchain that saw the most transactions recorded on its blockchain over the past day was Ethereum; its 640,668 transfers added was about 98% greater than the transactions recorded on Bitcoin, which was the runner up for transactions logged on its chain over the past 24 hours. Ethereum’s transaction fee was also less than Bitcoin’s, suggesting transaction fees might be a key reason why users are preferring Ethereum. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $55,404,296 US dollars. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 68.22% of the value of all circulating cryptocurrencies. Its dominance has been in a downtrend over the past two weeks, going between 67.6% to 68.92%.

Related Articles

US Shutdowns Lead to Global Decline in Bitcoin ATMs

Countries around the world significantly boosted the monthly growth of BTC ATMs throughout 2024, collectively approaching the 38,000.

Venezuela Bans Crypto Mining to Protect Power Grid

Venezuela’s move follows a recent crackdown involving the confiscation of 2,000 crypto mining devices as part of anti0corruption initiative.

Bitcoin ETFs: Over 600 Firms Pour Billions into Crypto

According to reports Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.

Swiss Leaders Propose Global Crypto Reporting Framework

Switzerland intends to adopt global standards for crypto tax reporting, joining the CARF to improve transparency.

See All