Daily Price Analysis 10/06: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Stellar (XLM) Litecoin (LTC)


The cryptocurrency market has added $2 billion to its market cap over the past 24 hours. The total crypto market cap yesterday was $218 billion but currently stands at $220 billion.

The daily trading volume has meanwhile dropped by $2 billion, from $12 billion to now stand at $10 billion over the past 24 hours.

Bitcoin price analysis

The price of Bitcoin has grown by less than 1% over the past few hours. BTC was trading at $6,587 yesterday but has now gone up to now trade at $6,614. The rise comes as market experts believe that Bitcoin is close to bottoming out.

The daily trading volume has dropped despite the price increase over the past few hours, from yesterday’s $3.7 billion to now stand at $3.3 billion.

Over the past five days, Bitcoin has gone up by 1%. It was trading at $6,505 five days ago but has now gone up to trade at $6,614.

Ethereum price analysis

Ethereum has surged by more than 2% over the past 24 hours. It was trading at $223 yesterday but has since then gone up to now trade at $227. The rise comes as the general market recorded gains.

The daily trading volume has also remained around the $1.5 billion over the past few hours.

ETH lost nearly 3% of its value over the past few days. Ethereum was trading at $233 five days ago but has declined to now trade at $227. Against BTC, it has lost 2.3% of its value over the past five days.

Ripple price analysis

XRP continues to underperform as its price still remains at the $0.51 despite the general market recording gains over the past few hours. The daily trading volume has dropped below the $500 million mark, from $607 million that was recorded yesterday.

The drop comes despite the Ripple Swell event which many expect would lead to a massive surge in XRP price.

Over the past few days, XRP has lost nearly 5% of its value. It was trading at $0.54 five days ago but has now dropped to $0.51. Against BTC, XRP has lost 5.5% of its value during that timeframe.

EOS price analysis

EOS has added 1.4% to its value over the past 24 hours. It was trading at $5.74 but has now gone up to trade at $5.80. The daily trading volume has dropped by more than $100 million, from $615 million to now stand at $487 million.

Against the U.S. Dollar, EOS is up more than 2% over the past five days. It was trading at $5.60 five days ago but has now dropped to $5.80.

It has meanwhile dropped more than 5% against BTC over the past few days.

 Stellar Lumen price analysis

The sixth largest cryptocurrency is still trading at $0.24, gaining less than 1% over the past 24 hours. The cryptocurrency did not record any meaningful growth despite being listed on BitGo cryptocurrency exchange.

The daily trading volume has dropped by $5 million, from $38 million yesterday to now stand at $33 million.

XLM has lost more than 4% of its value over the past five days. It was trading at $0.26 a few days ago but has now dropped to $0.24. Against BTC, XLM is down by roughly 5% over the past five days.

Litecoin price analysis

Litecoin is up by more than 1% over the past 24 hours. LTC was trading at $58 yesterday but is now approaching the $59 mark.

The daily trading volume has dropped by nearly $50 million, from $371 million yesterday to now stand at $322 million.

Litecoin has lost more than 1% of its value against the USD over the past five days. It was trading close to the $60 mark five days ago but has now dropped to $58. LTC has lost more than 2% of its value against BTC over the past five days.



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