Crypto Markets See Mild Green, European Stocks Report Record-Breaking Calm
After yesterday’s positive market momentum, most of the top 20 cryptos are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%.
Wednesday, May 1 — after yesterday’s positive market momentum, most of the top twenty cryptocurrencies are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%, as Coin360 data shows.
Market visualization courtesy of Coin360
Bitcoin (BTC) is up 0.89% on the day and is trading at $5,399 by press time, according to CoinMarketCap. After bullish price points at the start of its 7-day chart — with a break above the $5,500 on April 26 — the top cryptocurrency swiftly saw a sharp correction down to below $5,200 during subsequent trading hours. Recent days have seen Bitcoin reclaiming lost ground, and this renewed growth has brought Bitcoin’s weekly performance to a mild 1.72% loss.
Bitcoin 7-day price chart. Source: CoinMarketCap
The largest altcoin by market cap, ether (ETH), is up 0.93% on the day to trade around $160.50. The alt has seen a jagged and volatile week — ranging from above $165 on April 25 to below $153 the next day, April 26. Despite seeing solid upward momentum since April 29, Ether remains down by close to 2.5% on the week.
Ethereum 7-day price chart. Source: CoinMarketCap
XRP has reported a mild loss of 1.81% on the day, and is currently trading at $0.303. The asset’s price patterns over the week have largely correlated with bitcoin and ether, with XRP however seeing its 7-day price high on April 30. On the week, XRP has sealed a .087% gain.
XRP 7-day price chart. Source: CoinMarketCap
The top ten cryptocurrencies are largely green, with the exception of XRP, as well as native exchange token binance coin (BNB) — down 1.19% — and tether (USDT), which has lost 0.19% to cleave more closely to its U.S. dollar peg.
The strongest top 10 performer is bitcoin cash (BCH), ranked fourth largest cryptocurrency, growing 5.12% on the day to trade at $268.54 by press time.
Widening out to the top twenty: the highest gainer is 15th largest crypto cosmos (ATOM) — up 15.95% on the day to trade at $4.55 — followed by dash (DASH) — up 5.94% at around $117 — and privacy coin monero (XMR), up 5% at $64.40.
The total market capitalization of all cryptocurrencies is currently around $174.75 billion.
Total market capitalization of all cryptocurrencies 24-hour chart. Source: CoinMarketCap
Also today, major crypto data provider CoinMarketCap announced it will remove exchanges from its calculations if they fail to provide mandatory data by June, in a bid to improve transparency and accountability in the crypto space.
Meanwhile, a newly-unsealed United States indictment of two individuals has apparently uncovered a connection to the shadow banking services that were implicated in two recent high-profile crypto exchange controversies — Bitfinex and QuadrigaCX.
In traditional markets, the Stoxx Europe 600 index of leading European shares set a record on Tuesday for apparent calm and low volatility, reporting the 17th consecutive trading session when its price has moved by less than 0.5%. As the Wall Street Journal reported, the longest streak of such low volatility was a 16-day run ending in May 1993.