Cryptocurrency Analysis

[IFX_Selena]

Major altcoins have rewritten all-time highs

Over the past few days, the cryptocurrency market has been experiencing a real celebration. Over the past day alone, the total capitalization of all crypto assets increased by 3.7% and amounted to a cosmic $2.27 trillion. During a period of active growth, altcoins do not lag behind bitcoin that has gained momentum, and also rewrite historical highs.

Best of all, the main altcoin - Ethereum - has risen in price by 7.3% in 24 hours. As of April 14, ether is quoted at $2,386 and shows excellent dynamics of growth in daily trading volume - $40 billion. In addition to the general euphoria in the crypto asset market, the indicators of the ETH/USD pair went up significantly due to the increased interest of large companies, which supported the trend of the weekend rally organized by retail traders. The surge in activity was triggered by another step towards the expected Ethereum 2.0. Today, an update for the ether network called "Berlin" should take place, the main task of which is to adjust the algorithm for making commission Gas transactions. Considering the dynamics of the growth of quotes, the constantly increasing demand, as well as other positive news factors, the indicators of Ethereum will continue to grow. At this rate, the asset can swing to the important mark of $2,500 in the next few days.



The active growth of the Ripple token continues, which has risen in price by 6.6% in 24 hours, and in a week the growth amounted to a whopping 75%. As of April 14, the XRP/USD pair is trading at $1.81, and the asset continues to go up, as evidenced by the daily trading volume, which increased by 13% to $30.7 billion. In the litigation, Ripple is once again beating the SEC locally. Recently, the court rejected the regulator's petition to provide the company's directors with personal financial information. In addition, digital asset management firm CoinShares announced the launch of a physically-backed ETP in the form of XRP, which allows the coin to expect further capital inflows and growth to $2.



Litecoin also hit its all-time high, at $282 for the first time. Over the past day, the asset has risen in price by 1%, and the daily trading volume has remained practically unchanged for the entire period of growth - $10.8 billion. Considering the rather indifferent attitude towards the altcoin, the coin quotes began to decline after reaching another maximum and as of 12:00 UTC, the LTC/USD pair was trading at $265. Despite the lukewarm personal prospects for cryptocurrency, the market continues to skyrocket, which will allow altcoin to return to its previous positions.



In addition to the local success of individual altcoins, the market is still shaken by positive news. First of all, this is due to the start of trading in shares of the crypto exchange Coinbase on the NASDAQ platform. The performance of major cryptocurrencies rose significantly after the news that the assessed value of the crypto exchange was about $100 billion. In addition, the Japanese giant SBI Holdings has created its own fund to develop the cryptocurrency market through investments in blockchain startups. All this created a powerful impetus, which was supported by the growing performance of altcoins, as well as the completion of the consolidation of bitcoin prices. Thanks to a fortunate coincidence of circumstances in the stock markets, information space, as well as in BTC quotes, cryptocurrencies continue to grow steadily in value.





Artem Petrenko
Analytical expert
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