Of cryptocurrency market is picking up again after a small correction yesterday. Most stocks are turning green again today and the total market capitalization is rising from 1.53 trillion to $1.6 trillion, but is falling again at the time of writing.
Bitcoin (BTC)
Bitcoin (BTC) was able to hold above $37,000 yesterday and as early as $39,000 in the afternoon. Bitcoin then corrected back to USD 37,500, but started rising sharply from there towards the end of the evening. Last night, as expected, the bitcoin price tested the resistance around USD 40,000 several times and peaked around USD 40,250 this morning.
At the time of writing, bitcoin is plunging back below USD 40,000, but it looks like the price is about to test this resistance again soon. Trading volume is decreasing slightly, but remains relatively high. Should bitcoin break through this barrier, the road to $42,000 may well be open. If bitcoin does get stuck here, the altcoins maybe a chance to catch up. Last night, most altcoins lagged behind bitcoin. Bitcoin’s dominance rises to 47% today.
Altcoins
Ethereum (ETH) was unable to keep up with bitcoin last night and the correlation between the two prices is therefore decreasing slightly. The ether price initially rose sharply yesterday, but already ran into a lot of resistance around USD 2,330 yesterday afternoon and corrected back to USD 2,200. Last night, ether tested this $2330 again, but at the time of writing, the price is falling back to $2,250
In de top 10 crypto is ripple (XRP) the hardest climber today. The XRP price suddenly shoots up this morning. XRP’s price movement initially looked largely like ether, but at the time of writing it shoots from $0.635 to $0.702. That is an increase of no less than 10.6% in an hour and may continue for a while. Is it because of this news?
Announcing our newest On-Demand Liquidity corridor in (drumroll please…) JAPAN ????????! https://t.co/xiHXnYjo6z
— Ripple (@Ripple) July 28, 2021
Furthermore, we see a number of other significant risers in the top 100 largest crypto today. Quant (QNT), dash (DASH), hedera (HBAR), axie infinity (AXS), decred (DCR), iota (MIOTA), siacoin (SC), terra (LUNA), bittorrent (BTT), okb (OKB) and huobi token (HT) are all about 9 to 11% up from 24 hours ago. Theta (THETA) is rising the fastest again, picking up 12% today. Many of these prices are now about 40 to 70% in the plus compared to a week ago, for axie infinity that is even more than 200%.
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