Cryptocurrency market update: bears do not give up easily

Tanya Abrosimova Independent Analyst

Cryptocurrency market switched in a red mode as Bitcoin and all major altcoins demonstrate slight losses on a day-on-day basis. The total capitalization of all digital assets in circulation slipped to $171B, marginally lower from $174 this time yesterday. Also, notably, an average daily trading volume reduced to $60B, which is significantly lower than the recent peak $89B hit on April 3.

Top-3 coins price overview:

Bitcoin (BTC) broke below $5,000 handle to trade at $4,925 at the time of writing, down over 1.5% from this time on Thursday. The upside momentum is fading away amid declining volatility.
Ethereum (ETH) slipped to $158.60 by the tome of writing. The coin has lost 2.9% since this time on Thursday moving in sync with other digital assets.
Ripple’s XRP slipped below $0.3400. The third largest digital asset lost 3% on a daily basis to trade at $0.0330 at the time of writing.

The biggest market-movers:

Tezos (XTZ) lost nearly 9% to trade at $0.8950. The coin topped at $1.0 on March and has been retracing ever since. It takes the 20th place in the global cryptocurrency rating.
Bitcoin Cash (BCH) is back below $300. The coin is down nearly 9% on a daily basis after a strong upside move during the week.
Ontology (ONT) is the best performing coin out of top-20 with 4% gains on a day-on-day basis. It is changing hands at $1.61.

Author

Tanya Abrosimova

Independent Analyst

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