Crypto market overview: Bulls get a glimpse of hope

  • Bitcoin and major altcoins recover within  the ranges.
  • The market lacks momentum. 

Cryptocurrency market is a mixed picture on Thursday morning. Bitcoin and all major altcoins attempt a recovery from early losses, though the majority of the coins are still locked in their respective ranges. The total capitalization of all digital assets in circulation increased to $177 billion, from $177 on Wednesday, while an average daily trading volume grew to $41B, compared to $39 billion the day before. 

Top-3 coins price overview: 

  • Bitcoin (BTC) is trading at $5,260 at the time of writing. The coin stayed unchanged both on a day-on-day basis and since the beginning of Wednesday. The short-term trend is neutral as the upside is capped by $5,300 handle.  
  • Ethereum (ETH) came close to $174 handle during Asian hours, but retraced to $172.20 by the time of writing. The coin has been moving strongly during Asian hours and gained 3% since this time on Wednesday. The second largest coin is heavily overbought, which makes it vulnerable to the downside correction. 
  • Ripple’s XRP is no less impressive. The third largest digital asset has gained about 4%  in recent 24 hours and touched $0.3430. At the time of writing the coin is changing hands marginally below $0.3400 amid strong bullish momentum. 


The biggest market-movers:

  • Tezos (XTZ) is the best-performing cryptocurrency of the day out of top-20. XTZ has gained over 9% to trade at $1.27 by the time of writing. 
  • NEO climbed towards $11.26, gaining nearly 3% in recent 24 hours. The coin has been recovering strongly during Asian hours. 
  • Stellar has grown by 2% to $0.1180, The coin now takes the 9th place in the global cryptocurrency rating. 

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