Cryptocurrency market overview: still in green, but is it for long?
|- Cryptocurrency market is creeping higher, though the upside momentum is fading
- Bitcoin clinches to $4,000 handle, altcoins are marginally in green.
- Tron is the growth leader of the day.
The cryptocurrency market stays in the green zone with the overwhelming majority of top-20 coins demonstrating positive momentum during early Asian hours. The weekend rally that pushed Bitcoin above critical $4,000 handle improved the market sentiments, though little follow through might signal that bulls are not ready for a decisive move.
The total value of all digital assets in circulation settled at $137.1B, off the Tuesday's high $138.7B.
Bitcoin is clinching to $4,000 handle. The largest digital coin managed to gain about 1.2% on a day-to-day basis and stayed mostly unchanged since the beginning of Wednesday. As the upside momentum is fading away, analysts say that traders shouldn't get too excited with the recent rally. BTC/USD is changing hands at $4,015 at the time of writing.
Ethereum, the second largest coin by market value and the most popular platform for crowdfunding, gained 2.5% since this time on Tuesday to trade at $155.00 by the time of writing. The coin is growing even as the looming hard fork also known as investors prefer to take a wait-and-see strategy ahead of Constantinople upgrade.
Ripple's XRP, the third largest coin by market capitalization, has settled above $0.3700, gaining 1% on a day-to-day basis. The coin is moving within a short-term bullish trend amid low volatility.
Tron (TRX) is the growth leader today. The 9th largest coin is trading at $0.0268, up 11% on a daily basis. TRX surpassed Bitcoin SV by market value and hit the highest level of 2019 at $0.02741 on Tuesday. The strong growth was caused by a combination of technical factors and the announcement that EtherGo app moved to Tron's blockchain.
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