Cryptocurrency Trading Update: Double Figure Gains for Bitcoin Cash
Current performing altcoins are Bitcoin Cash, XRP, VeChain, and Lisk.
Many expected a reversal this Monday morning following a weekend of positive momentum but that has continued and markets are bullish at the moment. Total capitalization has been pushed back over $350 billion as $20 billion extra entered crypto markets over the weekend. Bitcoin has climbed slightly trading at $7,700 and Ethereum has made good gains of around 4.5% trading at around $620. Most of the altcoins are in the green during Asian trade this morning, but only one in double figures. The one leading the pack at the moment is Bitcoin Cash.
Coinmarketcap is reporting a 10.3% gain for BCH. Currently trading at $1,194 Bitcoin Cash is up from $1,085 this time yesterday. Over the past seven days BCH has made solid gains of 20% – this is impressive when compared to BTC’s gains which have only been 4% for the same period. On the month however Bitcoin Cash has taken a tumble with all other cryptos, falling from $1,475 by 19% to its current price. Against its big brother Bitcoin Cash is up 9% on the day to 15503300 satoshis. On the week however gains have been marginal as the satoshi level was very similar this time last Monday.
Gains have been steady and not pumps, indicating that there has been no single announcement to cause them. However a new version of HandCash, a Bitcoin Cash wallet app designed for ease of use and near field communications, was released over the weekend. The NFC feature allows people in close proximity to transfer funds without using wallet addresses or QR codes. The new update allows users to send and received just by mentioning the recipient’s ‘handle’ further simplifying and speeding up the transfer process. A newly launched application called Keyport has also lifted Bitcoin Cash. The platform utilizes the BCH network’s OP_Codes to allow users to send and accept encrypted messages built on top of the BCH chain and the Toku protocol.
Bitcoin Cash is traded on all major exchanges however OKEx is currently at the top of the list for volume. Total trade volume for BCH has increased almost 30% in 24 hours from $700 million to just over $900 million. Its market cap is currently $20.5 billion, $7 billion less than XRP in third spot.
Total crypto market capitalization has climbed for the fifth day in a row indicating a possible return of the bulls. The level currently stands at $352 billion, up 2.6% on the day. It has been a bullish week with total market cap climbing 8% since the same time last Monday. The monthly view is still a downtrend however. Other altcoins enjoying good gains during the morning’s Asian trading session include XRP up 8%, VeChain up 10%, and Lisk up 7%.
More on Bitcoin Cash can be found here: https://www.bitcoincash.org/
Posted from my blog with SteemPress : https://btcinquire.com/cryptocurrency-trading-update-double-figure-gains-for-bitcoin-cash/