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Is cryptocurrency market recovering?

Cryptocurrency markets are undergoing a slight recovery after the recent long-term price drop. The cryptocurrency market saw an infusion of green today, as the market added over $20 billion to its valuation. While the hike seemingly came out of nowhere, Ethereum and XRP stood over the rest as the biggest gainers from the hike. Bitcoin came behind, amidst rumors of USDT crumbling with premiums on Bitfinex pushing the price over $7000. Hopefully, this slights increase in the market will be followed by general market growth. But let’s overview the increase of today’s most popular digital coins:

Bitcoin

The first cryptocurrency strengthened its market dominance today, which has gone up to a high of 54.4%. The price of the coin is currently reflecting a growth of 5.7%, trading at $6696. Over the month, the price of Bitcoin is seeing a 4.5% growth as it experienced largely sideways movement over the time period.

Ethereum

The second-largest cryptocurrency by market cap seemed to have pushed the price hike on others and remains as the biggest gainer from today’s hike. The price has gone up by 6.1% to trade around the $213 level. This represents a measly growth of 1.4% over the past month over fears of selloffs by ICOs which dropped the price below $200.

XRP

XRP has had a phenomenal month, standing head and shoulders above its competition with a whopping 64.7% growth over the past 30 days. It is also the second biggest gainer of the hike today, representing a hike of 6% to trade at the $0.447 resistance.

 

Image source: Coin360

Recent price increase might be the start of a cryptocurrency market recovery. At the moment, multiple coins have seen hikes between the 3-3.6% mark. The biggest gainers in this range are Bitcoin Cash and Stellar Lumens with a growth of 3.6% each, followed closely by EOS and Litecoin with growths of 3.5% and 3.3% respectively. The monthly growth for the coins are reflected within the 6% range for Bitcoin Cash and EOS, with XLM, ADA, XMR, and TRX all showing double-digit growth over the past month.

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TKA (Tokia) Marketcap:117 906 USD
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