Bitcoin has started the day with a positive dynamic. At press time, the largest cryptocurrency by market cap is trading at $11,730.42 (+1.46%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $427.14 (+7.71%), while XRP has jumped by 4.67% and is now trading at $0.297.
FxPro's team of analysts say:
"The reference crypto is posting a moderate growth (+2%) at the end of the workweek and is trading at around $11,700. Ethereum, on the other hand, has recorded a rebound of over 8% and is currently trading at around $430.
The total market capitalization of the crypto market has fallen during the general market correction, but soon after it has grown again to above previous levels. As a result, it has jumped by $9B over the last 24 hours.
It must be noted the Bitcoin dominance index has also dropped to 59%. The fall in this index reflects the increase in demand for altcoins, which is a clear sign that investors are once again interested in the whole market, just like in 2017. However, it is also important that Bitcoin keeps growing in order to maintain the interest of buyers as a whole. The technical aspects of the network, including the mining difficulty and the hashrate, remain close to historical highs, demonstrating the confidence of miners in the prospects of the reference crypto."
According to CoinMarketCap’s ranking, all currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $367,986,474,787.
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