How Did the Fab Five Finish?
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.24%. Leading the way was XRP, whose price is now around $0.247097 USD, which yielded holders a return of 5.24% from the day prior. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of -4.06% — a move that puts its price around $166.94 USD. In total, three coins were up from the day prior, which is a mixed sign for the crypto sector.
Price Patterns to Monitor
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. Technical traders may also wish to note the following developments in price action:
- Seems like it might be a trend trader’s market, in the sense that over the past two weeks all of the major coins are in a clear uptrend.
Insights from the Blockchains
Ethereum recorded 588,195 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 112% over Bitcoin, which had the second-most transactions recorded on its chain. Ethereum’s transaction fee is less than Bitcoin’s transaction fee; in and of itself, this may imply transaction fees might be a key reason why users are preferring Ethereum. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $1,065,680,576 occurred on Bitcoin’s chain. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 66.51% of the value of all circulating cryptocurrencies. Note that Bitcoin’s dominance level has been in a downtrend, falling between 66.21% to 69.22% over the past two weeks.
Article by SixJupiter