Tanya Abrosimova
Independent Analyst
- Cryptocurrency market picture is mixed.
- Bitcoin is glued to $4,000 handle.
- Tron is an obvious leader of the day with over 19% gains.
The cryptocurrency market is a mixed picture today with some major altcoins including Ripple's XRP, TRON (TRX), EOS, Cardano (ADA), and DASH growing strongly despite Bitcoin's sluggish consolidation. The altcoins' rally took the total cryptocurrency market capitalization to $138B from Wednesday's low of $136.3B.
Bitcoin is hovering around to $4,000 handle. The largest digital coin is mostly unchanged both on a daily basis and since the beginning of Thursday. Depressingly low volatility keeps BTC squeezed in a narrow range limited by $4,050 on the upside and $3,980 on the downside.
Ethereum, the second largest coin in Coinmarketcap's rating, lost 1.5% of its value since this time on Wednesday to trade at $151.67 by the time of writing. ETH/USD is pressured down by the upcoming Constantinopole upgrade; however, the short-term trend remains bullish as long as it stays above $150.00 handle.
Ripple's XRP, the third largest coin by market capitalization, has gained over 3% on a day-to-day basis. The coin tested area above $0.3900 during early Asian hours, however, the breakthrough was not confirmed as it returned to $0.3800 fairly quickly amid profit taking on speculative positions. XRP/USD is changing hands at $0.3798 at the time of writing.
Tron (TRX) is still the best-performing altcoin with nearly 20% of gains on a day-to-day basis. TRX surpassed Tether by market value and took the 8th place in Coinmarketcap's rating. The coin's capitalization is registered at $2B; an average daily trading volume is creeping closer to $400M which is twice as much as at the beginning of the week.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Google, Apple could remove Binance from their app store on Philippines SEC request
The Philippines SEC has requested Google and Apple to remove applications controlled by Binance from their App stores. The exchange’s Philippines-based users are finding the exchange inaccessible to remove their funds.
XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations
Ripple filed its response to the SEC lawsuit on Monday, arguing that XRP institutional sales before and after the court ruling show no disregard for the law. The firm asks for a civil penalty of no more than $10 million against the $2 billion requested by the SEC.
Here’s why Ondo price hit new ATH amid bearish market outlook Premium
Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?