The cryptocurrency market is seen range bound. After the Sunday collapse Bitcoin and all major altcoins have stuck in tight ranges. Down from $124B on the weekend, now the total capitalization of all digital assets in circulation has settled marginally below $120B.
Since the beginning of Tuesday trading, Bitcoin is changing hands at $3,535, unchanged both on a day-over-day basis. Ever since it broke down on Sunday, the first digital coin is locked in a tight range. For an extended recovery a sustainable move below $3,600 handle is still regarded as a prerequisite.
Ripple’s XRP has right now settled at $0.3200 handle. Traders apparently cannot decide where from here. Fir the last couple of days the second largest coin has been range bound, also moving in sync with the broader market.
Though the downside momentum has faded away, Ethereum dropped below $118.00. ETH/ISD was last seen at the time of writing, trading at $117.80, down nearly 1% on a day-over-day basis. With an average daily trading volume of $2.3B the coin has a market value of $12.3B.
TRON (TRX) coin has jumped today to $0.0260 and emerged as a growth leader, gaining nearly 10% in recent 24 hours. TRON has recently been supported from positive fundamentals. The blockchain will have 2,000 dApps deployed on it by the end of 2019, according to Justin Sun, a creator of Tron Foundation.