The cryptocurrency market update: Altcoins go on wild moves, Bitcoin unfazed

  • Bitcoin has stuck in a tight range as altcoins are recovering.
  • Ripple’s defies gravity with over 16% of growth.

Most major altcoins are growing rapidly, while Bitcoin stays paralyzed in a tight range below $10,300. The total market capitalization of alll digital assets in circulation jumped to $271 billion – mostly due to altcoins recovery; average daily trading increased to $63 billion, while Bitcoin’s market dominance retreated to 67.8%, which is the lowest level in more than a month.

What’s going on in the market

A leading Japanese messaging app, Line, has launched a cryptocurrency exchange Bitmax. The platform offers five digital assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC).
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VanEck withdrew a proposal for Bitcoin ETF ahead of the SEC’s review scheduled on October 13.
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Top-3 coins  price overview

At the time of writing, BTC/USD is changing hands at $10,220, mostly unchanged both on a day-on-day basis and since the beginning of Wednesday. The coin has been trading below $10,300 since the end of Monday amid low volatility. 

Ethereum, the second-largest digital asset with the current market capitalization of $22.8 billion has gained over 7% in recent 24 hours and 2.2 since the beginning of the day to trade at $212.87. A strong growth above critical $200.00 attracted new buyers to the market and pushed the price towards intraday high of $214.00. 

Ripple’s XRP is the best-performing altcoin of the day with over 16% of growth in recent 24 hours. The third largest cryptocurrency asset with the market value of $13.0 billion catapulted above $0.30 and hit $0.3127 during early Asian hours before retreating to $0.3045 by the time of writing.

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