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Cryptocurrency Markets Underwent Tough Phase

Cryptocurrency Markets Underwent Tough Phase Before Seeing Green

After seeing tough losses over a couple of past days, the top 20 cryptocurrencies are again in the green. Some of these coins redeemed themselves by registering double-digit rise over the last 24 hours.

Bitcoin, leading digital currency experienced an up over 7% trading at around $3,946 at press time. An article published by the Wall Street Journal (WSJ) stated that Bitcoin’s correlation with traditional assets markets experienced a rise recently. Concerning Excalibur Pro Inc., WSJ said over the past five days; Bitcoin has traded at a 0.84 correlation to gold.

The second largest coin is Ripple (XRP) has experienced above 7% growth trading at $0.375 last day. XRP has not seen significant fluctuation during the whole week. On the other hand, Ethereum (ETH) has attained above 15% trading around $135 at press time.

Bitcoin Cash (BCH) gained over 13% growth trading at around $173 at press time while Bitcoin SV (BSV) is trading at $93.92 along with a gain of 9% on the last day. The gross market capitalization of all the virtual currencies could be $132 billion at press time, starting the day with $122.27 billion. The weekly increase was around $146.59 billion of the total market cap.

Huobi Derivatives Market has broken past $1 billion of daily traded volume cryptocurrency. The platform enables the traders to trade BTC & ETH contracts which aim to offer arbitrage, speculation, and hedging.

James Voss

James Voss

James Voss is a full time writer in CryptoLighty. He holds post graduate degree in computer science and has around one year experience in writing about cryptocurrencies. His technical knowledge and passion for crypto led him to our reporting team. He also interested in analyzing cryptos by technical aspects like different charts.

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