Bitcoin Hovers Near 6,600, While Most Top Coins See Little Price Volatility
Crypto markets are seeing little price movement today, with only Ripple seeing a more substantial loss of close to 3% among top coins.
Friday, Oct. 5: cryptocurrencies are seeing little volatility over the past 24 hours to press time, with the majority of losses and gains of top coins capped within a 1 percent range on the day, as data from Coin360 shows.
Market visualization by Coin360
Ripple (XRP) is the only outlier in the top ten coins, down a little over 3 percent on the day to trade at $0.52. The asset – which in September briefly outflanked Ethereum to seal the second spot ranking on CoinMarketCap listings – has had a shaky start to the month, and is currently trading almost 15 percent lower than its intra-week high at around $0.61 September 30.
On its rolling weekly chart, however, Ripple is a more modest 4.6 percent in the red. On the month, Ripple is up an impressive 57 percent.
Ripple 7-day price chart. Source: Cointelegraph Ripple Price Index
Bitcoin (BTC) is seeing negligible price change on the day, trading around $6,580 as of press time. Since trading above $6,600 at the start of its weekly chart, the top coin has seen two subsequent price corrections (Sept. 29 and Oct. 3).
Having briefly dipped below the $6,500 threshold during the latter of these, Bitcoin has reclaimed some ground and is back pushing a slightly higher price point.
On its weekly chart, Bitcoin is just over one percent in the red. Monthly losses are also mild at 2.5 percent.
Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index
Taking note of Bitcoin’s relative price stability recently, twitter personality and crypto trader WhalePanda tweeted today: “With everyone launching their own stablecoin Bitcoin decided to be the ultimate stablecoin.”
Ethereum (ETH) is down a marginal 0.15 percent on the day to trade at $222 at press time. After a steep plummet Sept. 29 to trade as low as $215, the leading altcoin briefly recovered to push above $235 Sept. 30. Throughout early October, Ethereum has seen renewed losses, although its lowest Oct. price point has been at around $218.
Ethereum’s market cap is around $22.8 billion, slightly widening its margin ahead of Ripple (XRP), which today has a market cap of $20.5 billion.
On the week, Ethereum is almost breaking even, up 0.6 percent; on the month, the altcoin is down around 2.8 percent.
Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index
The remaining top ten coins listed on CoinMarketCap are seeing red, almost all capped within a 1 percent range.
In the context of the top twenty coins, 24-hour price fluctuations are similarly slight, though more mixed red and green. Crypto exchange Binance’s native token Binance Coin (BNB) is the only exception, up a strong 3.14 percent to trade at $10.61 at press time.
At the start of October, Binance Labs revealed it had made a multi-million dollar investment in decentralized digital cont