Posted 2 years ago | by Ben Armstrong
Crypto Markets Stable, Some Altcoins Rally
The major tokens have been trading in a steady range over the weekend as we all know about cryptocurrency market. The CCI30, a measure of the 30 largest cryptos, is currently trading at 2,874, and has traded as high as 2,895 over the last 48 hours. While most of the major tokens have been largely flat over the weekend, a few have risen.
Bitcoin (BTC) is currently trading at $8,289 USD. BTC prices traded as high as $8,450 USD on Sunday, but the gains quickly evaporated, and BTC prices fell to the $8,200 USD level before rebounding.
If we look at BTC prices on a longer-term basis, it seems that the world's most valuable token has fallen from its previous trading range, and is trying to find a near-term base. Over the last two months BTC has traded over the $10,800 USD level, but is currently bouncing off support at $8,000 USD.
Ethereum (ETH), the second most valuable token by market-cap, is currently trading at $182.26 USD. ETH has risen by 7% over the last week, and is basically flat over the last day. ETH prices rose over the $195 USD level last week, but have fallen back to what looks like support at the $180 USD level.
Ripple (XRP) has tacked on a gain of more than 3% over the last 24 hours, and is presently trading at $0.2830 USD. Of the three most valuable tokens, XRP has risen the most over the last week, and currently has a seven day gain of 11.3%. XRP may be benefiting from the recent move by Xpring to invest in digital wallet BRD, in a bid to support the use of XRP tokens. XRP tokens are presently trading at one-week highs.
Chainlink's LINK token has also done well over the last seven days. LINK is up by 16.4% over the last week, and is currently trading at $2.55 USD. The token has a much smaller market cap than the major tokens, and is presently valued at $920,372,583, making it the 14th most valuable token in the world.
The selling pressure that brought the crypto complex down from its previous trading range seems to have subsided. Take a look of current cryptocurrency market price.
BTC prices seem to have found a floor at the $8,000 USD level, and the world's most valuable token seems to be building another base. If BTC is able to reclaim the $10,000 level, it may be able to push back into higher price levels on a sustained basis.