As of today, most of the top twenty cryptocurrencies show slight gains at press time and in today’s altcoin news we take a closer look at the price analysis.
Bitcoin, for example, is going towards the $4,000 price point according to the CoinMarketCap data. The number one cryptocurrency is just down by one percent over a period of 24 hours, hovering above the $3,961 price point according to the data. By looking at the weekly chart, the current price is slightly higher than when it was at the start of the week at $3,928.
As DC Forecasts previously reported, Thomas Lee, the Fundstrat Global Advisors co-founder, gave his own forecasts on the crypto market fluctuations by saying that the market has a chance of making a U-turn at the end of August.
On the other hand, we have Ethereum holding its position among the top 20 altcoins by market cap of $14.5 billion. ETH is up by three percent over the past day and is currently trading at around $138 after starting the day at $133. On the weekly chart, we can see that Ethereum has seen its value go up by less than a percent. It also reported a mid-week low that reached $130 on Tuesday.
Vitalik Buterin explained earlier this week that the blockchain applications that are outside of the finance world have trouble gaining traction because they offer decentralization as a primary value.
The second-largest altcoin Ripple managed to increase just a little under a percent in the past 24 hours and is now trading around $0.314. By looking at the weekly chart we can see that the current price is just a little above a percent which is actually a higher point from the beginning of the week.
Ripple’s developer ecosystem project Xpring partnered with a gaming blockchain platform Forte and established a 100 million fund in order to help developers and to support the game.
The total market cap of all cryptocurrencies reached $137 as of today, going up by 2 percent since the value a week ago.
On the traditional side, the stock markets also are experiencing some growth after Nasdaq reported gains of 1.05 percent and S&P 500 reported 0.67 percent gains.
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