Crypto market overview: crypto bulls get the green light
|- All major coins have gained ground in recent 24 hours.
- The momentum is fading away on the short-term timeframes.
The cryptocurrency market climbed back into the red zone with the Bitcoin and all major altcoins growing strongly after a weak start. The total capitalization of all digital assets in circulation has climbed to $176 billion from $169 billion this time on Tuesday. The average daily trading volumes climbed to $47 billion from $44 billion the day before.
Top-3 coins price overview:
- Bitcoin blasted above $5,200 resistance to trade at $5,327 by the time of writing. The first digital coin has gained over 2% in recent 24 hours and 1% since the beginning of Wednesday. BTC/USD is moving within a strongly bullish short-term trend driven by high volatility.
- Ethereum staged an impressive recovery towards $167.00 handle during early Asian hours only to slip back to $165.20 by the time of writing. While the second largest virtual coin is moving within a short-term bearish trend, it is still nearly 4% higher on a day-on-day basis.
- Ripple's XRP jumped above $0.31 and settled at $0.3130, with 5% gains since this time on Tuesday. The third largest coin has been trading with bearish bias during early Asian hours following a strong upside momentum late on Tuesday.
The biggest market-movers:
- Bitcoin Cash (BCH) is an uncontested growth leader of the day with over 13% of gains on a day-on-day basis. The fourth largest coin is hovering around $274 handle at the time of writing.
- Tezos (XTZ) takes the second place with 7% of gains. XTZ/USD is changing hands at $1.23, extending the recovery from April 26 low registered at $1.03.
- Ontology (ONT) is another strong performer. The 20th largest coin has gained nearly 6% in recent 24 hours to trade at $1.13 at the time of writing.
The cryptocurrency market recovery is taking place amid global stocks sell-off. This development confirms the safe-haven feature of the digital assets.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.