Tanya Abrosimova
Independent Analyst
- Bitcoin has regained some ground after a sell-off during early Asian hours.
- XRP is the best-performing asset out of top-20 with over 9% of gains.
There is a never-ending sense of uncertainty on the cryptocurrency market Bitcoin is hovering $8,000, while some major altcoins including Ripple’s XRP demonstrate strong gains. The market capitalization of all digital assets in circulation increased to $216 billion from $216 billion on Monday morning, while an average daily trading volume edged up to $52 billion. Bitcoin is losing its market share rapidly. Now the market dominance of the world’s largest crypto coin is only 66.6%
Top-3 coins price overview
BTC/USD has regained some ground though the short-term trend remains bearish. At the time of writing, the coin is changing hands at $8,050 in recent 24 hours and regained 2% since the beginning of the day. We will need to see a sustainable move above $8,000 to mitigate the initial bearish pressure.
Ethereum, the second-largest digital asset with the current market capitalization of $18.9 billion, has gained over 3% on Monday to trade above $175.00. Notably, ETH/USD dropped below $170.00 and tested $168.83 during early Asian hours, but managed to recover.
Ripple’s XRP is the best-performing altcoin out of top-10. XRP/USD has grown by more than 6% since this time on Sunday and over 9% since thee beginning fo the day. The coin tested area above $0.2800. By the time of writing, XRP/USD retreated to $0.2750.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.