Bitcoin and major altcoins are rangebound. Calm before storm?
- Bitcoin stays above $4,200, looks like the worst is over.
- Altcoins are mixed with Zcash the biggest winner.
The cryptocurrency market has stabilized after a short-lived recovery. The top-20 coins are mixed, though it is clear that the upside momentum has faded way for the time being. The total capitalization of digital assets in circulation increased to $137B from $135 this time on Thursday.
Bitcoin, the largest and the most popular cryptocurrency, has gained about 3% in recent 24 hours to trade at $4,269 by the time of writing. The coin is staying in a narrow range amid low trading activity.
Ripple's XRP is hovering at $0.3810, unchanged both on a daily basis and since the beginning of Friday. The second largest digital asset with market value $15.3B stalled on approach to $0.40 handle, amid lack of bullish catalysts that might have pushed it higher.
Ethereum is changing hands at $118.9 at the time of writing, off the Asian high of $119.77. ETH needs to clear $120 handle to improve the short-term technical picture, however, the upside momentum is nowhere to be seen as of yet.
ZCash is the biggest winner today. The coin has gained over 12% since this time on Thursday to trade at $88.71 at press time. Now it takes the 19th place in cryptocurrency rating.
What's going on in the crypto universe
Mohammed El Erian thinks its too early to pull the plug on cryptocurrencies
Author
Tanya Abrosimova
Independent Analyst
