Crypto market overview: Bitcoin, Ethereum, and Ripple confined to narrow ranges; bears are hatching a plot
- Cryptocurrency market is rangebound, unresponsive to any developments
- Major coins are sitting in ranges with mild bearish bias.
Major digital coins are rangebound with mild bearish bias (except EOS) amid low volatility. Cryptocurrency market value is $345B, mostly unchanged on daily basis. The average daily volume is registered at $14.4B according to CoinMarketCap. The news from Coinbase provided short-lived support that failed to impress the market players that much.
Read more about the largest US cryptocurrency trading platform receiving SEC broker-dealer registration to offer digital assets that are deemed securities.
At the time of writing, Bitcoin is trading at $7,656 with 0.58% in the recent 24 hours. Bitcoin's market value is stable at $131B, the average daily volume is $4.3B. Over 63% of the total Bitcoin transactions are represented by BTC/JPY.
Ethereum is sitting marginally above $600, unchanged since the start of the day and $1.2% lower since this time yesterday. ETH/USD remains the most active trading pair for this digital coin No. 2 with nearly 22% of market share.
Ripple stays above $0.67, currently changing hands at $0.6723. The coin has lost 1% over recent 24 hours, trading within the bearish short-term trend. XRP's market value has settled at $26.4B, trading volumes - $227M. XRP/BTC and XRP/KRW are the most active trading pairs with Ripple.
BTC/USD, 30-min chart
Author
Tanya Abrosimova
Independent Analyst
