Daily Price Analysis 08/29: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC)

The cryptocurrency market has gained $13 billion over the past 48 hours, with Bitcoin and other cryptocurrencies recording gains during that time frame. There was no major catalyst for the price movement as the market continues its recovery.

0

The cryptocurrency market has gained $13 billion over the past 48 hours, with Bitcoin and other cryptocurrencies recording gains during that time frame. There was no major catalyst for the price movement as the market continues its recovery.

The trading volume has also increased to $13 billion over the past 24 hours.

Bitcoin (BTC) price analysis

The Bitcoin price has finally reached the $7,000 despite its market dominance falling to 52%. The BTC price has gone up by 2% over the past 24 hours, rising from $6,932 yesterday to now trade at $7,106.

The price increase comes despite Jordan Belfort, the Wolf of Wall Street, stating that Bitcoin shouldn’t be in existence.

The 24-hour trading volume has also gone up over the past few hours, rising from $4.2 billion yesterday to now stand at $4.5 billion.

A look at Bitcoin’s weekly chart shows that the cryptocurrency has gained roughly 6% over the past seven days. It was trading at $6,673 a week ago but has since then risen slowly to now trade at $7,106.

Ethereum (ETH) price analysis

Ethereum is looking to finally make a run for the $300 mark after rising by roughly 3% over the past 24 hours. The second largest cryptocurrency was trading at $285 just yesterday but has risen alongside the general market to now trade at $293 per ether.

Tesla CEO Elon Musk has revealed that he wishes to buy Ethereum even if it is a scam. This shows that Musk is impressed by the cryptocurrency and its platform.

ETH’s daily trading volume has risen by $200 million over the past 24 hours. The daily trading volume yesterday was $1.3 billion but now stands at $1.5 billion following the price surge.

Over the past seven days, Ethereum has recovered 3% of its value. It was trading at $284 a week ago but has now gone up to trade at $295 despite a drop to $270 during the week.

Ripple (XRP) price analysis

XRP has gone up by 2% over the past 24 hours. It was trading at $0.342 yesterday but has participated in the market growth to trade at $0.348.

The 24-hour trading volume has also increased over the past few hours. The daily trading volume yesterday was $308 million but has now risen to $316 million.

Over the past one week, XRP has witnessed a haphazard trading pattern. It has been trading between $0.34 and $0.35 over the past seven days. It has however stabilized at $0.34 over the past few hours.

EOS price analysis

EOS was the biggest winner amongst the leading cryptocurrencies. It has surged by more than 15% over the past few hours. It was trading at $5.37 yesterday but has now gone up to $6.20.

The rise in price led to a massive surge in EOS trading volume. The 24-hour trading volume yesterday was $471 million but has risen by nearly $300 million to now stand at $731 million.

EOS has been on a steady rise over the past seven days. It was trading at $5.06 a week ago and continued to rise and now trades above the $6 mark.

Litecoin (LTC) price analysis

Litecoin was the second biggest winner after EOS. The seventh largest cryptocurrency has gone up by 5% over the past 24 hours. LTC was trading at $60 yesterday but has surged to $63 over the past few hours.

Litecoin founder Charlie Lee has revealed that he won’t be buying back any of his Litecoin.

The trading volume has also gone up slightly, rising from $231 million yesterday to now stand at $245 million.

Litecoin has recovered 9.5% of its value over the past seven days. It was trading at $57 a week ago and was trading at that level before it started to surge higher two days ago.

Leave A Reply

Your email address will not be published.