Tanya Abrosimova
Independent Analyst
- Bitcoin is rangebound in mid-$5,500, the recovery momentum is too weak.
- Altcoins are performing well with Stellar gaining over 7%.
Cryptocurrency market has calmed down and even regained some ground after epic sell-off on Wednesday and Thursday. The total capitalization of digital assets now registered as $186B against $184 this time on Thursday.
Bitcoin, the largest virtual coin, is changing hands at $5,560, virtually unchanged both on a daily basis and since the beginning of Friday. However, Bitcoin's market share is about 1% lower as the majority of altcoins demonstrate positive momentum.
Ethereum, now the third largest coin with market value $18.5B, is trading at $180.80, also unchanged since this time on Thursday. Ethereum has recovered from the Asian low registered at $178 and now moving within a short-term bullish trend.
Ripple's XRP ousted ETH from the second place in the rating of top-10 cryptocurrencies. The coin has a market cap of $19.2B and now changing hands at $0.4788, gaining 4.45% in recent 24 hours. The short-term upside momentum is gaining traction, however, $0.4900 handle may stop the recovery for the time being.
Stellar (XLM) is the best-performing coin out of top-10 with over 7% gains in the recent 24 hours. XLMtakes the 5th place with the market value of $4.6. XLM/USD is trading at $0.2465 at the time of writing.
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