Market Analysis

Crypto top coins experiencing minor recoveries: will it last?

The crypto market has started the new week with a slight recovery after suffering significant drops over the past week. Top coins such as Bitcoin, Ethereum, and XRP have all shown minor gains over the past 24 hours. At writing time, Bitcoin has shown a 1.16% price change in the last 24 hours, Ethereum had a 1.39% change, XRP with 0.04% and Litecoin showing a 1.11% change.

How are the top four coins performing?

Bitcoin. Even though it has been able to recover, it is yet to gain the momentum that will see it past the $10,000 mark. In the past 24 hours, it has been able to hit a high of $9,681 and a low of $9,252.30. At the time of writing, the coin has a value of $9,608.98 according to coinmarketcap, with a market capitalization of $171,468,840,321 and a 24-hour trading volume of $14,503,117,227. Bitcoin now leads with a market share of 64.98%, followed by Ethereum.

Ethereum. The coin following Bitcoin at position two currently has a market share of 8.54%, which represents a market capitalization of $22,690,437,831. The ETH/USD pair now stands at $211.87. Ethereum experienced a 1.82% change yesterday representing 3.77USD and had a high of $212.04 and a low of $202.25.

XRP. The coin has been able to stay above the $0.3000 mark for the past 48 hours. It currently has a market price of $0.310577. It currently has a market capitalization of $13,302,850,178 and a 24-hour trading volume of $892,407,902.

Litecoin. With only 7 days to go until the coin’s halving happens, Litecoin has not shown any significant price changes associated with the anticipated halving. LTC currently has a market value of $90.24 and a market capitalization of $5,673,296,503.

Who are the losers?

Despite the minor gains exhibited by the majority of the coins in the top 10 list, there are three coins i.e., Binance coin, EOS and Bitcoin SV which all shown negative changes over the past 24 hours. At the time of writing, Binance coin had a market price of $27.72 which is a 0.52% drop, and Bitcoin SV has a value of $149.27 while EOS has a market price of $4.28 signaling a 0.51% drop.

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coinmag

Daniel is an experienced writer with a keen eye on emerging technologies. He aims at educating the crypto community on the developments within the space.

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