Cryptocurrency markets are once again riding a long period of consolidation as the last seven days has failed to show any meaningful moves. During our last markets update, digital asset values spiked considerably, gaining billions in one hour on Feb. 8. But a week later cryptocurrencies have offset those gains and most markets have been following a narrow range for more than a week.
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Crypto Gains Neutralize and Follow a Falling Narrow Range
Digital currency prices have been consolidating again into what looks like a falling wedge after seeing a significant jump in value eight days ago. The overall market capitalization of all 2,000+ cryptocurrencies is around $120 billion. Global trade volume is still decent, even though it’s a touch lighter than last week at $18.8 billion over the last 24 hours. Currently, bitcoin core (BTC) is priced at $3,635 with a market valuation of about $63.7 billion at the time of writing. BTC is down around 0.81% over the last week but has managed to gain 0.3% during this morning’s early trading sessions.
The second highest market capitalization belongs to ethereum (ETH) as each token is trading for $123. Ethereum markets have managed to knock ripple (XRP) from the second position as XRP is swapping for $0.30 this Saturday. Litecoin (LTC) captures the fourth position with each coin trading for $43 as markets have gained 3.5% today. Lastly, eos (EOS) prices are up 1.5% as each eos is sitting at $2.83 per coin.
Bitcoin Cash (BCH) Market Action
Bitcoin cash (BCH) prices have been coasting along at $122
