Bitcoin has started the day posting minor gains. At press time, the largest cryptocurrency by market cap is trading at $11,898.35 (+2.03%), according to CoinMarketCap.
Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has grown to $460.44 (+8.96%), while XRP has jumped by 4.29% and is now trading at $0.293.
The China Center for Information Industry Development (CCID) has recently published the 19th edition of its ranking of crypto projects. In this new edition of the ranking, 37 cryptos have been analyzed according to their basic technology, applicability and creativity.
EOS still leads the ranking, while Tron has fallen from the second to the fourth place and has been replaced by Ethereum in the second place. For its part, IOST is in third place, while Bitcoin has fallen from the 12th to the 14th place.
FxPro's team of analysts say:
"Bulls and bears are playing a tug-of-war, which is preventing Bitcoin from taking a clear direction. At the same time, the trading volume of the crypto has increased by 21% over the last day.
The reference cryptocurrency is trading today at around $11,750.
The global economy will most likely end the year in great uncertainty.
Bitcoin has recently shown a taste for lateral trends, while the activity around altcoins has increased significantly. This is clearly reflected in the Bitcoin dominance index, which has fallen to 56.7%. This is largely due to the momentum of the DeFi sector as well as the growth of the most popular altcoins, including ETH, which has grown by 9% over the last 24 hours.
However, we cannot say this is affecting Bitcoin in a negative way. While it is likely that by the end of the year we will see the emergence of new stars in the crypto market, these will not have it easy to eclipse Bitcoin due to the infrastructure developed around this coin."
According to CoinMarketCap’s ranking, 7 currencies on the top 10 are in green.
As for the market cap of all currencies listed in CoinMarketCap, it stays at $386,910,827,106.
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