Recap of the Top Five Cryptos
Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone up 2.39% in aggregate. Leading the way was Bitcoin, whose price is now around $12289.42 USD, which yielded holders a return of 4.08% from the day prior. Notably, this was the second day in a row in which Bitcoin outperformed all other major cryptocurrencies. As for the worst performer out of the top five cryptos, that would be XRP, which reported a day-over-day return of 0.79% — a move that puts its price around $0.323388 USD. In total, all five coins were up from the day prior, which is nice for those bullish on cryptocurrencies.
Crypto brokers to trade the currencies mentioned here: Coindirect
Price Action to Watch
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. Technical traders may also wish to note the following developments in price action:
- XRP has no clear trend. Perhaps one for trend following traders to avoid.
What Does Transaction Data Tell Us?
Ripple recorded 1,061,929 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 48% over Ethereum, which had the second-most transactions recorded on its chain. Ripple’s transaction fee was also less than Ethereum’s, suggesting transaction fees might be a key reason why users are preferring Ripple. Bitcoin was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $69,388,352 US dollars. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $218.05 billion US dollars.