Cryptocurrency market update: Bitcoin hovers at $9,300, altcoins range-bound with bullish bias

  • Bitcoin has settled at an important barrier of $9,300.
  • Tezos and ZCash are the biggest losers of the day.

The cryptocurrency market is in recovery mode as Bitcoin and all major altcoins have gained some ground in recent 24 hours. The total market capitalization increased slightly to $289 billion; an average daily trading volume reduced to $50 billion. Notably, the trading volumes have been sliding since the beginning of the week, signaling that the market is in prone to range-bound trading.

Top-3 coins  price overview

  • BTC/USD is hovering at $9,300. The first digital coin has gained nearly 1.5% in recent 24 hours and stayed mostly unchanged since the beginning of Thursday trading. We need to see a sustainable move above $9,350 for the upside to gain traction.
  • Ethereum, the second largest digital asset with the current market capitalization of $28.7 billion, stays under $270 handle despite the recovery from the intraday low. At the time of writing, ETH/USD is changing hands at $269, having gained about 1% in recent 24 hours. 
  • Ripple's XRP has settled well above $0.43, though the upside momentum is losing traction. The third largest coin with the current market capitalization of $18.4, has grown by 1% from this time on Wednesday and stayed mostly unchanged since the beginning of Thursday trading.

The biggest market-movers

  • Tezos (XTZ) is one of the worst-performing cryptocurrency on Wednesday. The coin slipped from the 19th place in the global cryptocurrency rating. Now it takes the 20th position and has a market value of $790 million. XTZ/USD is changing hands at $1.20, down 3% on a day-on-day basis.
  • ZCash (ZEC) is also a big loser today. The coin is down over 4% on a day-on-day basis, trading at $110.10 at the time of writing. This is the 22nd coin in CoinMarketCap's rating with the current market capitalization of $747 million.

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