Top cryptos trade in tight range, as all move less than 2%

Bitcoin

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.

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

Price Patterns to Monitor

Buy Ethereum online in under five minutes

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.

Related Articles

CBDC adoption: Russia enters final phase to test digital ruble

Russia is in the final phase of testing a central bank digital currency (CBDC), which will be used for both national and international...

What exactly is DeFi? Decentralised finance explained

DeFi is a set of technologies that enables people to manage their funds on a peer-to-peer basis and it's changing the way money can be used.

Expansion: Coinbase will be launching in the Netherlands

As part of its global expansion, Coinbase has announced that it has been granted regulatory approval from the Netherlands' national bank.

Is Bitcoin better than retail estate as an investment?

According to MicroStrategy CEO Michael Saylor, Bitcoin presents a much better long-term asset than property.

See All