Bitcoin Hovers Under $3,600 as Top Cryptos Remain Mostly Stable
The top 20 cryptocurrencies report discreet price action in mixed directions, with Bitcoin hovering under $3,600.
Friday, Jan. 25 — the top 20 cryptocurrencies are reporting discreet price action in mixed directions on the day to press time. Bitcoin (BTC) is hovering under $3,600 again, according to Coin360 data.
Market visualization from Coin360
At press time, Bitcoin is seeing virtually no change on the day, trading at around $3,590, according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,668, the price at which Bitcoin started the week. Bitcoin’s intraweek high hit just over $3,700 on Jan. 19.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ripple (XRP) has kept its value mostly stable in the 24 hours to press time, trading at around $0.314, losing just half a percent on the day. On the weekly chart, the current price is lower than $0.326, the price at which XRP started the week — and down from $0.333, the midweek high reported on Jan. 19.
Ripple 7-day price chart. Source: CoinMarketCap
Second largest altcoin Ethereum (ETH) has also seen its value decrease by about half of a percent over the last 24 hours. At press time, ETH is trading at $116, having started the day about one dollar higher. On the weekly chart, Ethereum’s current value is lower than $122, the price at which the coin started the week.
Ethereum 7-day chart. Source: CoinMarketCap
The combined market capitalization of all cryptocurrencies — currently equivalent to about $119.7 billion — is lower than $122.1 billion, the value it reported one week ago.
Total crypto market cap 7-day chart. Source: CoinMarketCap
Also, recently news broke that 40 percent of institutional investors believe blockchain may be the most important innovation since the internet, according to a survey by trade association the Global Blockchain Business Council.