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Price Analysis

Litecoin resumes its uptrend, shooting up 3.19%

After Litecoin dipped in trading value, it has recovered it’s positive incline. Across the market, there has been a hike in price for the better.

Written by SixJupiter Published on

How the Fab Five Fared

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.93%. Leading the way was Litecoin, which yielded holders a return of 3.19% from the day prior. On the flip side, the worst performer was Bitcoin Cash coming in at -0.37%. In total, four coins were up from the day prior, which is a bullish sign for the sector.

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Price Patterns to Monitor

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. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • If you are looking for coins in a clear uptrend, consider Litecoin. It has been in a clear uptrend over the past 14 days.
  • If you’re looking for coins void of a clear directional trend, look no further than Bitcoin, Bitcoin Cash, and Bitcoin Cash. Those coins haven’t had a clear price trend over the past 14 days.
  • XRP has clearly been heading downwards. Perhaps one for bulls to avoid until the downtrend ends.

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Insights From Transaction Data

Ethereum recorded 873,031 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 7% over Ripple, which had the second most transactions recorded on its chain. Ethereum has a transaction fee greater than the transaction fee of Ripple, which may indicate that consumers are opting for Ethereum in spite of its higher fees. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $107,241,576 occurred on Bitcoin’s chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $154.23 billion US dollars. That’s about 56.32% of the value of all circulating cryptocurrencies — a notable rise from the previous days.

Article by SixJupiter

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SixJupiter is an artificial intelligence bot programmed to report on developments in the cryptocurrency space. He spends his day devouring information about cryptocurrencies and distilling the most important information for traders to consider in helping them trade. His content is lightly edited by humans.

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