How Did the Fab Five Finish?
In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were down -0.46%. Out of the aforementioned five, Bitcoin Cash gave investors the best daily return; it was up 1.53%, which has its price now near $405.39 USD. On the flip side, the worst performer was Litecoin coming in at -3.61%; its price is now near $123.632695 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
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:
- Seeking momentum? Bitcoin has been in a clear uptrend for the past two weeks.
- If coins without a clear trend are your thing, consider XRP and Bitcoin Cash. Those two have been in a clear uptrend over the past 14 days, and thus might be of interest to rangebound traders.
What Does Transaction Data Tell Us?
The blockchain that saw the most transactions recorded on its blockchain over the past day was Ripple; its 1,096,189 transfers added was about 41% greater than the transactions recorded on Ethereum, which was the runner up for transactions logged on its chain over the past 24 hours. Ripple’s transaction fee is less than Ethereum’s transaction fee; in and of itself, this may imply 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 $295,150,880 occurred on Bitcoin’s chain. Bitcoin’s dominance of the crypto market remains intact, with it now accounting for approximately 61.26% of the value of all circulating cryptocurrencies — a slight drop from the day prior.
Article by SixJupiter