How the Fab Five Fared
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.59%. Leading the way was Bitcoin, whose price is now around $9768.36 USD, which yielded holders a return of 1.49% from the day prior. In terms of the worst performer, that would be Ethereum, which reported a day-over-day return of -0.42% — a move that puts its price around $171.42 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 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. Also of note for technical traders are the following developments in price action:
- Over the past two weeks, the five largest cryptos have been in a downtrend. It might be time to bust out the short-selling trading strategies or wait until the bearishness subsides before buying.
Insights From Transaction Data
Ripple recorded 866,021 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 20% over Ethereum, which had the second-most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin, coming in at a value of $354,079,264 US dollars. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $174.75 billion US dollars. That’s about 69.23% of the value of all circulating cryptocurrencies. Note that Bitcoin’s dominance level has been in an uptrend, stepping from 67.82% to 69.23% over the past two weeks.
Article by SixJupiter