Few significant price swings were seen in the cryptocurrency market, with no clear market-wide trend. While in the higher levels, Bitcoin and Ethereum showed lower volatility and registered slight losses, Dash and EOS both showed a price jump of more than 19% in the past 24 hours. Trading volumes were lower across the board with no cryptocurrency reaching the billion dollar mark.
Bitcoin holds above $2,500
Following the incredible volatility seen in the first half of the year, reaching new all-time highs and displaying incredible price swings in June, the second half is off to a slower start. Bitcoin prices have been on a steady incline in recent days, showing gains in four out of the last five days, settling above $2,500 and flirting with $2,600 this morning.
Slow decline for Ethereum
The world’s second-largest cryptocurrency has been showing small daily losses in recent days, holding above the $250 mark and displaying relatively lower volatility. The Ethereum chart shows declines in four out of July’s first five days and a continued downward trend this morning. However, the general sentiment in the Ethereum community is that the coin could revert to gains, with some saying it could even climb as high as $1,000.
Dash jumps 19%
Currently ranked 6th by market cap, cryptocurrency Dash showed incredible gains in the past 24 hours, rising more than 19%. The cryptocurrency, which offers instant transaction capabilities and completely anonymous transactions, reached an all time high of $227 and a market cap of more than $1.6 billion. The recent price spike is attributed to increased demand in Asia.
This article was first posted on Etoro.com/blog, a Premium Trading Partner.
Last modified: March 4, 2021 4:57 PM