Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $7,089.88 (+6.49%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $170.49 (+7.87%), while XRP has jumped by 3.35% and is now trading at $0.188.
FxPro's team of analysts say:
"Bitcoin has shown little change since yesterday and is currently trading at around $7,100. According to CoinMarketCap, the trading volume on the Bitcoin network remains steadily above $40B. However, it is also clear Bitcoin is unable to grow beyond $7,100.
Ethereum (ETH) has registered a more impressive growth adding more than 10% over the past 24 hours, while the rest of altcoins have increased by 4-9%.
Judging by Coinmetrics data, the main 'shadow' winners are stablecoins, whose market cap grew by 1.5B in March. This is not surprising, as they are often the favorite asset for investors during periods of market turbulence.
However, crypto enthusiasts believe the current situation is positive, especially for Bitcoin. After the US approved the distribution of money among its citizens, more and more people believe fiat money will lose value, which will be positive for cryptos, whose issuance is limited, which in turn causes their value to increase over time."
All currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $203,070,921,630.
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