Crypto Markets Come Back Down After Slight Jump Yesterday
Cryptocurrency markets could not maintain their bullish trend from yesterday, with most major coins seeing red today.
Thursday, Nov. 29: cryptocurrency markets have come back down after a slight jump yesterday Nov. 28, with just a few of the top twenty coins seeing mild gains.
Market visualization by Coin360
Bitcoin (BTC) is down 2.5 percent on the day, trading in a narrow corridor from $4,125 to $4,457 at its highest point today. As of press time, the major cryptocurrency is trading around $4,221.
On its weekly chart, BTC has dropped over 5 percent, while its monthly losses are 5.15 percent, according to Cointelegraph’s Bitcoin Price Index.
Bitcoin 24-hour price chart. Source: CoinMarketCap
The second largest cryptocurrency by market capitalization Ripple (XRP) is also down around 5 percent over the past day and is trading at $0.376 at press time. XRP’s market cap is around $15 billion, and its daily trading volume is around $654 million.
The coin’s weekly chart is also in the red, down almost 13 percent with the token reaching a high of $0.435 and a low of $0.327 over the past 7 days.
Ripple 7-day price chart. Source: CoinMarketCap
Ethereum (ETH) has also dropped by around 5 percent on the day, and is trading at around $117.99 at the press time. The third-largest cryptocurrency’s intraweek low was $101.77, while the highest price point was $131 on Nov. 22. On its monthly chart, ETH is down by over 9 percent.
Ethereum weekly price chart. Source: CoinMarketCap
Of the top 20 coins by market cap, only TRON and Zcash are seeing slight gains, up 1.8 and 5.35 percent and trading around $0.015 and $86 respectively at press time. Today, Nov. 29, major U.S.-based cryptocurrency exchange Coinbase announced it has added support for Zcash on the Coinbase Pro platform.
EOS and Bitcoin Cash (BCH) are showing poor performance over the past 24 hours. EOS has lost more than 11 percent on the day, and is trading at around $2.96 at press time. The altcoin could not hold its position of the fourth cryptocurrency by market cap after it briefly overtook BCH on Nov. 22.
BCH has dropped by over 8 percent on the day, and is trading at around $179.74. The coin’s highest price point over the day was $198 with a low of $179.05.
Total market capitalization of all cryptocurrencies is around $136.8 billion as of press time, up from the intraweek low of $115 on Nov. 25.
Meanwhile, decentralized internet protocol TRON announced its plans today to launch a blockchain gaming fund dubbed TRON Arcade. The project will see investment totalling $100 million over the next three years.
Cryptocurrency hardware wallet manufacturer Ledger has updated its support of altcoin Monero (XMR) for its Nano S device. “With this addition, Ledger devices now cover 90% of the entire crypto market capitalization,” said the company’s CEO Eric Larchevêque.