Litecoin falls 2.75% as all cryptos drop for the day

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How the Fab Five Fared

Since the previous day, the five most-watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of -1.7%. Out of the aforementioned five, XRP gave investors the best daily return; it was down 0.47%, which has its price now near $0.332285 USD. As for the worst performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 2.75%, which drove its price to around $101.42 USD. None of the coins had up days, which indicates a wave of bearishness befell the sector as a whole.

Key Technical Moves

None of the coins had moves that could be regarded as unusually large; all the moves were within the volatility ranges we’ve come to expect for each currency. Also of note for technical traders are the following developments in price action:

  • If coins without a clear trend are your thing, consider Bitcoin and Ethereum. Those two have not been in a clear trend over the past 14 days, and thus might be of interest to rangebound traders.
  • If you’re looking for coins clearly heading down, look no further than XRP, Bitcoin Cash, and Litecoin.

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Insights From Transaction Data

Ripple recorded 1,130,113 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 70% over Ethereum, which had the second most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $113,908,176 occurred on Bitcoin’s chain. Bitcoin continues to dominate the crypto market, with the total circulating value of its currency equal to approximately $205.44 billion US dollars. That’s about 65.1% of the value of all circulating cryptocurrencies. Its dominance has been in an uptrend over the past two weeks, going from 59.94% to 65.35%.

Article by SixJupiter

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