Tanya Abrosimova
Independent Analyst
- Major cryptocurrencies are trapped in tight ranges.
- BNB remains the best-performing cryptocurrency out of top-20.
Cryptocurrency market is slow this Friday morning as Bitcoin, and all major altcoins are moving within tight ranges, showing an entirely passionless reaction to the goings-on within the cryptocurrency and blockchain industry. The total capitalization of all assets in circulation settled at $133.4B, marginally lower from $133.6B this time on Thursday.
What’s going on on
Binance Coin is a star - the coin issued by a well-known exchange continues to outperform the market. BNB has gained 42% in recent seven days and moved to seventh place in CoinMarketCap’s rating. The core reason for the stellar growth might be related to the upcoming Celer Network token sale that will be launched on Binance Launchpad.
Binance CEO comments on Ripple's XRP, while Ripple’s CEO dwells upon JPM Coin. Speaking during AMA session, Changpeng Zhao, aka CZ, explained why XRP is not a security, while Ripple CEO Brad Garlinghouse welcomed the coin that is often perceived as a primary competitor for XRP.
Market movements
Bitcoin (BTC) is changing hands at $3,860, unchanged both on a day-on-day basis and since the beginning of Friday. The first digital coin has been moving within a tight range capped by technical resistance located on the approach to $3,900.
Ethereum, the second largest coin by market value, is changing hands at $137.69, down 1.5% on a day-on-day basis. The coin’s upside is capped by $140.00 handle, though there are no signs of the imminent breakthrough as of yet.
Ripple’s XRP, the third largest coin, is also listless at $0.3144, with 1.1% losses day-on-day. The coin failed to settle above $0.3200, which means more consolidation with bearish bias may be in store.
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