How Did the Fab Five Finish?
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.65%. Out of the aforementioned five, Litecoin gave investors the best daily return; it was up 1.97%, which has its price now near $87.08 USD. In terms of the worst performer, that would be XRP, which reported a day-over-day return of -1.52% — a move that puts its price around $0.298035 USD. Out of the five coins observed here, three cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.
Price Action to Watch
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. Also of note for technical traders are the following developments in price action:
- Trend traders may wish to keep an eye on Bitcoin. It has clearly exhibited a bullish trend over the past two weeks.
- Currencies without a clear trend over the past two weeks are Litecoin, XRP, Bitcoin Cash and Ethereum. If you prefer choppy, rangebound markets, they might be up your alley.
What Does Transaction Data Tell Us?
Ripple had more transactions recorded on its chain yesterday than any other coin; to be precise, it had about 37% more transactions recorded than Ethereum, which was the runner up for the day in terms of transactions recorded. Ripple’s transaction fee was also less than Ethereum’s, suggesting transaction fees might be a key reason why users are preferring Ripple. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $56,632,432 occurred on Bitcoin’s chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $200.95 billion US dollars. That’s about 68.35% of the value of all circulating cryptocurrencies. Its dominance has been in an uptrend over the past two weeks, heading from 64.12% to 69.3%.
Article by SixJupiter