Crypto market overview: Bitcoin is rangebound, Stellar goes to the moon

  • The majority of top-20 coins rest in tight ranges.
  • Bitcoin Cash is the worst-performer, down 3.5%.
  • Stellar is a star as a massive airdrop is looming.

The global cryptocurrency market has gained some ground in recent 24 hours with the total value currently registered at $213B. The top-20 have barely moved with the exception of Stellar and Bitcoin Cash. These two coins are driven by their own specific factors. 

Bitcoin has recovered from Sunday's low to trade at $6,372 by the time of writing. The world's biggest digital coin has been trading within $6,000 - $7,000 range oscillating mainly around $6,500 handle. Thus, the volatility of the digital assets is now lower than the one of some emerging currencies like Mexican Peso and Turkish lira.

Ethereum is changing hands at $212, unchanged both on a daily basis and since the beginning of Monday. The second largest coin with the current market value of $21.8B is moving within a narrow range, though the short-term volatility is expanding. The intraday high is reached at $213.27.

Ripple's XRP stays above $0.50 handle, though the coin slipped from the intraday high of $0.5113. The coin has gained 4% on a weekly basis and over 70% in recent 3 months amid a steady flow of partnership news and looming mass adoption speculations.

Bitcoin Cash is losing ground. The fourth largest coin settled at $532.62 after having lost 3.5% in the recent 24 hours. The upcoming fork and heated dispute among the key developers and BCH architects increases uncertainty and pushes the price down. Apart from that, is correcting from an overbought territory after a strong growth at the beginning of the previous week.

Stellar is changing hands at $0.2790, gaining over 7% higher from this time on Sunday. It takes the fifth place in top-20 cryptocurrencies with a market value of $5.2B and an average daily trading volume $114M, which is twice as big as the mid-term figures. The coin continues growing strongly amid upcoming airdrop.


What's going in the crypto universe

Canadian VersaBank now offers cloud-based depository boxes for digital assets.

Bitcoin may not be so interesting for institutional investors, the CEO of Revolut believes

SWIFT denied integration with Ripple network

Bitmain deploys 90,000 units in China to mine Bitcoin Cash after the hard fork

Stellar waits for the biggest airdrop in history to the tune of $125M


 

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