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Price Analysis

Cryptos mixed as Ethereum goes up 2.5% and Ripple down 4.1%

The cryptocurrency market remains undecided as top moving tokens like Ethereum goes up by 2.5% while Ripple’s XRP heads down.

How Did the Fab Five Finish?

Since the previous day, the five most watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of 0.3%. The best performer of the bunch was Ethereum, which went up 2.51%. As for the worst performing crypto out of the Big Five, yesterday that was XRP; it came in at down 4.1%. Out of the five coins observed here, three cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.

Crypto brokers to trade the currencies mentioned here: CoinDirect, Gate, Yobit, Stex, Binance, DDEX

Key Technical Moves

None of the coins had moves that could be regarded as unusually large; all the moves were within the volatility ranges we’ve come to expect for each currency. Also of note for technical traders are the following developments in price action:

  • If you are looking for coins without a clear trend, consider Litecoin, Bitcoin, Bitcoin Cash, and Ethereum; they’ve been trendless over the past two weeks.

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What Does Transaction Data Tell Us?

The blockchain that saw the most transactions recorded on its blockchain over the past day was Ethereum; its 691,422 transfers added was about 64% greater than the transactions recorded on Ripple, which was the runner up for transactions logged on its chain over the past 24 hours. 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. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $192,917,232 occurred on Bitcoin’s chain. The circulating value of all Bitcoins now comes in at approximately $ 137.52 billion US dollars — which means Bitcoin accounts for about 55.36% of the entire cryptocurrency market. Bitcoin’s share of the entire cryptocurrency market has hovered very closely around the 55% level for this past week.

Article by SixJupiter