Cryptocurrency market update: Bitcoin recovers from lows, struggles to develop upside momentum – FXStreet

  • BTC/USD has recovered from the recent lows, but the upside momentum remains weak.
  • TRON is a big winner of the day, growing actively in Asia.
  • EOS is under selling pressure, losing over 9%.

The cryptocurrency market attempts to recover during Asian hours on Wednesday, but Bitcoin and the majority of top-20 altcoins are still in the red zone on a day-on-day basis, nursing losses from 1% to 9%. The total capitalization of all digital assets in circulation slipped to at  $251 billion from $256 billion registered about this time on Tuesday. An average daily trading volume increased to $82 billion.

Top-3 coins price overview

  • At the time of writing, BTC/USD is hovering marginally above $7,800, rising from the intraday low of  $7,670.  The most important digital asset has gained 2% since the beginning of Wednesday and lost 1.6% on a day-on-day basis.
  • Ethereum, the second largest digital asset with the current market capitalization of $26 billion, managed to settle above  $240. The coin is changing hands at $242, down 1.3% in recent 24 hours.
  • Ripple’s XRP has lost about 2.4% in recent 24 hours to trade at $0.40 at the time of writing, off the intraday low of $0.3975.

The biggest market-movers

  • Tezos is the biggest loser of the day. The coin has lost over 9% in recent 24 hours to trade at $1.23 at the time of writing.
  • TRON (TRX) is the growth leader, with over 5% of gains. The 11th largest cryptocurrency is changing hands at $0.0350 while the upside momentum is growing.
     

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