Analysis

Green Across The Board As All Major Cryptos Rally, Recover Recent Losses

Green Across The Board As All Major Cryptos Rally, Recover Recent Losses

November 28th: those watching the cryptocurrency markets will be aware that the last week has been a turbulent one. However, it would appear that the market slide has now been stopped – at least temporarily. All the major cryptocurrencies are currently showing significant gains during the past day.

A wave of green is sweeping over the cryptocurrency market, as major coins take steps towards recovering the recent losses. For example, Bitcoin has once again surged north of the $4,000 barrier.

The following market visualization from Coin360 shows that the cryptocurrency markets are solidly in the green today. Moreover, the total cryptocurrency market cap has increased by 10.66% during the last 24 hours to $135.4 billion.

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Trading volume, on the other hand, is slightly down today. At the time of writing, trading volume has decreased by 1.94% to $18.2 billion.

Major Bitcoin price increase

Bitcoin is certainly having a good day judging by its market performance. The premier cryptocurrency has shot up dramatically during the past day. More specifically, it has rebounded from an intraday low of $3,715 to a current level of $4,127.

The following market visualization from CoinDesk shows how Bitcoin has risen substantially throughout the day. The intraday trend is clear in that the premier cryptocurrency is rising.

This constitutes a massive increase of 11.30% at the time of writing. Nevertheless, Bitcoin’s market performance is symptomatic of the market as a whole, as virtually all major coins are facing gains.

Ripple sees solid gains of +9%

In Ripple-land, the second-largest cryptocurrency by market capitalization is also showing impressive gains. Ripple has increased by 9.67% during the day – at the time of writing – and is now holding a price of $0.381.

The following market visualization from CoinDesk shows that Ripple has performed much like Bitcoin during the day. The cryptocurrency has seen a number of steep price increases, separated by more moderate gains.

Ethereum surges far north of $100

Ethereum, on the other hand, has now put the $100 barrier far behind itself. At the time of writing, Ethereum is trading at a price of $118.97, which represents an intraday gain of 11.14%.

In other news, Stellar has skyrocketed by 15.84% to a price of $0.159. EOS has increased 8.11% during the day, and is now claiming a price of $3.24. Litecoin has surged by 13.88% and is now trading around $34.39.

All of this comes following substantial declines in the cryptocurrency market, suggesting it may be about to rebound. Moreover, it also comes off the heels of Nasdaq’s announcement that it is betting on ”sustained cryptocurrency interest”.

Image Source: “Flickr”

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