Market Overview
On this fine Monday, it seems the crypto markets decided to give their roller coaster rides a break, opting instead for a calm day of shallow dips and modest gains. Most key digital currencies are experiencing low-level fluctuations, with a sprinkle of green here and a drop of red there, as demonstrated by the latest data from reliable sources.
Bitcoin’s Journey
Bitcoin (BTC), the industry’s heavyweight champion, has managed to gain around 0.85 percent, hovering around the $6,354 mark. After what felt like a slow dance below $6,400, Bitcoin has a bit of pep back in its step following a mini slump to $6,307 just yesterday. On the weekly chart, it’s only down 0.4 percent, while on the monthly view, it’s up by a smidge – about 1 percent.
Ethereum’s Slight Surge
Ethereum (ETH), our trusty sidekick in this wild crypto adventure, is also showing some spirited momentum, climbing by three-quarters of a percent to trade at around $210. It enjoyed a romantic high of $220 on Nov. 7 before drifting down to a disappointing $207 yesterday, but fear not! It has managed to pick itself up and recover some ground.
Ripple Breaks the Mold
Now, let’s talk about Ripple (XRP), which has clearly taken a different route this week, soaring with an almost astounding increase of 6 percent, trading at approximately $0.53. While it experienced some fluctuation, even dipping below $0.51, it has made a stunning comeback, resulting in 5.2 percent growth for the week and a jaw-dropping 25.6 percent since last month!
Top Ten Coin Roundup
As we glance towards the rest of the top ten, the landscape is a mix of soft greens with a few notable exceptions. One coin making headlines is Monero (XMR), which has clocked a solid 3.35 percent gain, trading around $107.03. However, Bitcoin Cash (BCH) is not having the best day, down about 0.8 percent at $527.74 as it navigates some pre-hard fork drama.
The Emerging Players
In the larger arena of top coins, NEM (XEM) jumps out like a surprise party, seeing a whopping 16.3 percent spike to trade at $0.108. Meanwhile, DASH (DASH) and IOTA (MIOTA) are also putting their best foot forward with gains above 4 percent. However, not everyone is sharing the wealth as Tezos (XTZ) and ZCash (ZEC) stumbled slightly, both down by around 2 percent.
Market Capital Trends
The total cryptocurrency market cap sums up to around $212.9 billion, a gentle decline from last week’s peak of about $220.7 billion. In other news, GMO Internet out of Japan has reported a noteworthy performance in its crypto segment despite a rough external climate. Meanwhile, China is not lagging behind, forming new blockchain alliances with ambitious finance-oriented projects on the horizon.
