The cryptocurrency market update: Bitcoin consolidates gains, altcoins go nowhere


  • Bitcoin is hovering around $10,400 with a short-term bearish bias
  • Cosmos (ATOM) is the best-performing altcoin with 23% of gains.

The cryptocurrency market situation has barely changed in recent 24 hours. Bitcoin and the majority of altcoins out of top-20 managed to recover during late Thursday hours; however, no major breakthroughs happened. The total market capitalization stays edged towards to $264 billion,  an average daily trading volume slid to $49 billion, while Bitcoin's market dominance increased to $70.3%.

Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands marginally below $10,400. The first digital asset has gained 2.5% since this time on Thursday and stayed unchanged since the beginning of the day. The coin is range-bound with bearish bias amid shrinking volatility.

Ethereum, the second-largest digital asset with the current market capitalization of $19.5 billion climbed back above $180.00 handle to change hands at $180.80 at the time of writing. ETH/USD has been moving in sync with the broader crypto market and gained 1.2% on a day-on-day basis. On the intraday level, the further recovery is limited due to low volatility.

Ripple's XRP is moving within a short-term bearish trend amid expanding volatility. The third largest cryptocurrency asset with the market value of $10.9 managed to stay above critical $0.2500; however further recovery is capped by the former support of $0.2550  XRP/USD is changing hands at $0.2545 at the time of writing. The coin is unchanged bith on a day-on-day basis and since the beginning of the day.

Read also: Bank of Venezuela opens Petro crypto wallet registrations

The biggest altcoin market-movers

Stellar (XLM)is the biggest loser of the day with over 5% of losses. Meanwhile, Cosmos (ATOM), the 21st biggest coin with market value of $593 million gained over 23% in recent 24 hours and became the best-performing asset out of top-100.

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