Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $11,113.05 (+1.27%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $336.24 (+5.67%), while XRP has jumped by 1.65% and is now trading at $0.246.
FxPro's team of analysts say:
"Bitcoin has managed to stay above the $11,000 barrier, however, its trading volume has dropped by 12% over the last day. According to Blockchain's data, the crypto's hashrate has grown again, posting a new all-time high. The computational complexity will be reviewed soon. Therefore, miners keep showing their confidence in the future prospects of the reference crypto by mining with losses or with little profitability.
Even though now very few people are talking about the Bitcoin halving, market participants never completely rule out the fact that the price of crypto has risen significantly after the previous two halvings. One of the most famous bulls, the Winklevoss brothers, has recently announced the next rally of the crypto market will be a little different. According to Cameron Winklevoss, these are some of the conditions that could boost it: the market cap of the stablecoin Tether (USDT) has passed the $10B mark and the assets managed by Grayscale have reached a new all-time high.
In addition, the market now has infrastructure, human capital and projects, something it missed during the 2017 rally. The Winklevoss brothers have also highlighted the emergence of regulatory clarity that should set the stage for a new rally. Especially in the context of increasingly pressing talks about the fate (and value) of the dollar and the global leadership of the US."
According to CoinMarketCap’s ranking, 8 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $329,196,795,631.
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