Crypto price analysis: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON; June 7
The cryptocurrency market trends are mostly positive today, despite a few coins having negative growth. The total volume of cryptocurrencies traded in the last 24-hours is approx. $15.7 billion, with Bitcoin dominance over the other coins at 37.9%. The market cap now stands at $348.23 billion.
Bitcoin (BTC) looks to be pretty stable today, despite being infamously known as the ‘most unstable cryptocurrency’. At 22:00 UTC yesterday, its value decreased slightly, which was by $130. However, at 2:14 UTC, it gained back its price and went up to $7,680 within just a few minutes. Since then, it has had a slight increase in price, which could be due to its trading volume of $4.91 billion over the last 24 hours.
Market cap: 131.93 billion
24 hour volume: $4.915 billion
Ethereum (ETH) hasn’t managed to stay as stable as Bitcoin. Just before the end of June 6th, it faced an abrupt decline in price, reducing to $597.58. After a couple of hours, it picked up pace again and crossed the $600 mark. Also, it had a hike at 6:55 UTC, after which we can see nothing but ‘instability’, leaving the coin to hover around $610. Its value in terms of Bitcoin has reduced by 0.28%, despite increasing 0.86% against the dollar.
Market cap: $61.1 billion
24 hour volume: $1.897 billion
Ripple (XRP) has been on an upward curve over the past few hours. Though the coin faced a sudden downfall yesterday at 21:30 UTC, just like Ethereum, it held ground and has been increasing continuously in price, which started at 2:20 UTC today. The most alarming thing about Ripple today is its 24 hour trading volume, which has decreased to 283 million, despite the 1.55% increase in price. It has been reducing over the past 2 days, where it was previously 563 million!
Market cap: $26.83 billion
24 hour volume: $285.12 million
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) has been decreasing in value over the past few hours. It had 1 major dip yesterday (at 21:55 UTC) and 2 major hikes today (at 20:20 and 5:50 UTC). Despite the decrease in value lately and a decrease in trading volume by 25 million, the coin has a 24-hour gain of 1.33%.
Market cap: $19.64 billion
24 hour volume: $640.33 million
EOS (EOS) has had a bad day today. It somewhat maintained stability until 21:30 UTC yesterday, after which it gave in, reducing to $13.48. The loss was 4.92%, which is a major dip considering its yesterday’s hike of 6.32%. The overall loss of the coin is 1.21% against USD and 2.39% against BTC.
Market cap: $12.37 billion
24 hour volume: $1.011 billion
Litecoin’s price graph looks pretty similar to that of EOS. They have had rises and dips during the same time of day, and by similar margins. Its value in comparison to Bitcoin has reduced, despite the increase in price at 2:20 and 6:20 UTC. The trading volume, however, has managed to remain stable, holding strong at $350 million.
Market cap: $6.944 billion
24 hour volume: $343.7 million
Stellar (XLM) is the stand-out performer of the day among the top 10 coins. Though it hasn’t seen any significant growth in value over the past 7 hours, it still enjoys a healthy gain of 3.18%. The fluctuations in the Stellar coin value are excessive, like always, which also affects its Bitcoin exchange value. This could highly impact its trading volume in the coming days.
Market cap: $5.577 billion
24 hour volume: $53.567 million
Cardano (ADA) hasn’t been doing great over the past 10 hours. It has reduced over 3% in value, causing it slip down to $0.214. Though it had two significant hikes at 2:14 and 6:44 UTC, it’s variation for the day is a loss of 0.69%. However, this hasn’t changed its 24-hour trading volume massively, which has reduced by just $2 million.
Market cap: $5.528 billion
24 hour volume: $86.59 million
IOTA (IOTA) remains almost neutral today in terms of price and market cap. However, it has had more than its share of hikes and dips unlike most other coins. As seen from the graph, it has had 3 major dips at 22:10 and 23:30 UTC yesterday and 4:14 UTC today. All the variations add up to nothing more than an increase of 0.32% overall.
Market cap: $4.795 billion
24 hour volume: $81.89 million
TRON (TRON) on the other hand, looks like a combination of all the top 10 coins. There have been significant hikes as well as sudden downfalls. It has shown high instability during the last 10 hours, causing its price to reduce by 1.4%. It’s market cap, however, hasn’t altered much, much like its 24 hour trading volume. The overall loss in coin value is 0.32%, which is negligible.
Market cap: $3.901 billion
24 hour volume: $184.54 million
Image via Shutterstock & Coinmarketcap
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