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.

Tanya Abrosimova Independent Analyst

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

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