Daily Price Analysis 10/23: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Stellar (XLM) Litecoin (LTC)

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The cryptocurrency market is experiencing a mixed trading as the total market cap now stands at $209 billion.

The current market situation comes as Bitfinex, a leading crypto exchange that is closely affiliated with Tether, took out 630 million USDT from the market as the stablecoin dropped below the $1 mark.

The daily trading volume meanwhile stands at the $10 billion marks.

Bitcoin (BTC) price analysis

The Bitcoin price is up by less than 1% over the past 24 hours. It was trading at $6,488 yesterday but has since then jumped to now trade at $6,578.

This rise wasn’t significant despite news that Bitcoin futures could be launched on ICE’s crypto trading platform by December.

The BTC daily trading volume has gone up slightly over the past 24 hours. The 24-hour trading volume yesterday was $3.4 billion but has now gone up to stand at $3.7 billion.

Bitcoin has lost 2.3% of its value against the US Dollars over the past five days. It was trading at $6,737 five days ago but has embarked on a downward trend that has now seen it drop to its current price.

Ethereum (ETH) price analysis

Ethereum is trading in the green section after it rose by roughly 1% over the past 24 hours. The second largest crypto was trading at $204 yesterday but is now up to $206.

The daily trading volume has meanwhile remained stagnant at $1.2 billion over the past 24 hours.

A look at ETH’s chart shows that the cryptocurrency is down by 3.1% against the USD over the past few days. It was trading at $212 five days ago but is now down to $206. ETH is also down by less than 1% against BTC during that time period.

Ripple (XRP) price analysis

The third largest crypto is down by more than 1% despite its price still stagnating at the $0.45 mark over the past 24 hours. This drop comes despite news that Ripple’s xCurrent would go live at the National Bank of Kuwait.

The 24-hour trading volume has meanwhile dropped slightly, from $260 million recorded yesterday to now stand at $239 million.

Ripple is down by 5% against the greenback over the past five days. XRP was trading at $0.48 five days ago but has now dropped to $0.45. It is also down by more than 2% against Bitcoin.

EOS price analysis

EOS is also trading in the red zone despite being able to retain its price over the past 24 hours. It was trading at $5.41 yesterday but is down by less than 1% and still trades at $5.41.

The 24-hour trading volume has meanwhile dropped by more than $50 million. EOS daily trading volume yesterday was $405 million but it has subsequently dropped to $342 million over the past few hours.

EOS is down by just roughly 2% against the US Dollars over the past five days. It was trading at $5.5 five days ago but has dropped just slightly and now trade at $5.4. It is meanwhile up by less than 1% against BTC over the past five days.

Stellar Lumen (XLM) price analysis

Stellar Lumen is one of the top performers amongst the leading cryptocurrencies. The sixth largest crypto is up by 1.4% over the past 24 hours, rising from $0.24 yesterday and now trades at $0.25.

The cryptocurrency continues to perform excellently amidst rumors of a potential partnership with Fidelity. The daily trading volume meanwhile has dropped slightly, from $45 million recorded yesterday to its current level at $41 million.

XLM is up by less than 1% against the US Dollars over the past five days despite retaining its trading price of $0.25 during that time period. It is also up by nearly 3% against Bitcoin over the past five days.

Litecoin (LTC) price analysis

Litecoin is up by less than 1% over the past 24 hours, rising from $52 yesterday and now trades at $53. The rise comes as news spread that Litecoin developers are looking to slash LTC transaction fees by 90%, following the footsteps of Monero.

The daily trading volume is down by $40 million over the past 24 hours. LTC’s 24-hour trading volume yesterday was $292 million but has now dropped to $252 million.

LTC is down by 0.97% against the US Dollars over the past few days. It was trading at $53 five days ago and has been able to keep up that price despite surging to $54 during the week. It is also down by 0.26% against BTC during that time period.

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