Tanya Abrosimova
Independent Analyst
- Bitcoin is off the recent highs, but still above $4,000.
- Altcoins are in the green zone on a day-to-day basis; the colors are about to change.
The cryptocurrency market recovered massively on Wednesday with all top-20 coins in green, gaining from 1% to 20% in the recent 24 hours. However, the joy may be short-lived as Thursday started with declines across the board. The total capitalization of digital assets in circulation jumped to $135B from $126 this time on Wednesday.
Bitcoin, the largest and the most popular cryptocurrency, has gained over 8% in recent 24 hours to trade at $4,158 by the time of writing. The coin reversed from the early Asian high of $4,245 as the bullish sentiments seem to be waning out after the most robust daily growth in many months.
Ripple's XRP is hovering at $0.3810, up over 4% on a day-on-day basis. The second largest digital asset with market value $15.3B capped $0.40 handle, which darkens the short-term technical picture. XRP/USD is moving within a short-term bearish trend, losing 3% since the beginning of Thursday.
Ethereum is trading 4% higher than this time on Wednesday and down 4% since the beginning of Thursday. The third largest coin with a market value of about $12.2B is changing hands at $118.75 at the time of writing, off the Asian high of $123.77. The short-term ETH trend is strongly bearish, while a failure to stay above $120 handle adds dark colors to the technical picture.
Tron is the biggest winner today. The coin has gained over 20% since this time on Wednesday to trade at $0.0145 at press time. Now it takes the 12th place in cryptocurrency rating provided by CoinMarketCap.
What's going on in the crypto universe
BitTorrent and µTorrent can now use TRON to pay for services.
Coinbase launched the proprietary OTC trading desk
Tether reopened direct Tether to fiat transactions
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