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24/05/2019
Technology

Crypto Market Remains in Green, Ethereum Leads the Gainer’s List

The positive sentiments in the crypto market continue to stay put with leading cryptocurrency putting out a strong performance. Investors are hopeful that this April bull run will push the value of their assets towards the higher side even as the market volatility refuses to die away. In the last 24 hours, Bitcoin has registered a marginal increase of 0.5% with its value touching $ 5,300 level on the day. The surge is not very high but still good enough to send a positive signal to the investors. Ethereum, on the other hand, led the rally with its 3.18% increase with Ripple tagging along by posting a gain of 1.6%.

Bitcoin Gains

According to CoinMarketCap, Bitcoin has witnessed a surge of 1.02% during the last 24 hours although, in terms of daily trading volume, it has suffered a significant decrease from its April high of $22 billion to its current value at $12 billion. Despite this decrease, the coin has been able to stay afloat in terms of total market capitalization which is pegged at $93 billion at press time. Its value went past $5,200 and touched the level of $5,300 with experts suggesting that the coin may find support at the level of $5,200 in case of any downward slide.

Ethereum leads gainers

Ethereum was trading at $170 and after registering the rise of around 3% in the last 24 hours, the coin took the highest position at $173.98. The trend indicates a strong possibility of retracement which might make coin move towards $170. However, going by the fundamentals and support that technical levels are showing, there is a strong possibility that this uptrend will continue to remain in place in the near future.

Ripple Growth Story

Increasing adoption of the Ripple is positively affecting its market value also. The coin touched a weekly high of $0.3500 after it broke through the level of $0.3450. At the time of writing, the value of the coin was hovering at $0.3404.

In terms of the overall market scenario, investors are happy with the current upward movement. All technical scenarios are also of the viewpoint that this bullish phase in the market will be going to be around for quite some time; still, the possibility of another volatile stint cannot be ruled out either. The growing adoption of cryptocurrencies with more and more companies coming forward to embrace the concept of digital coins is credited for the bullish phase crypto market is currently experiencing. The wide adoption has also a rubbing effect in the form of an increase in the valuation of major cryptocurrencies that we are witnessing for now.

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