Crypto Top 10s: Bitcoin price suffers erratic weekend; XRP closes in on Ethereum cap; LTC and BCH drop

Here’s a look at the performance of the Top 10 cryptocurrencies – by 24h trading volume – on the TradingView chart, as well as winners and losers across the board.

Headlines

Crypto market steady, XRP closes in on Ethereum market share

It’s a four-Bart weekend for Bitcoin (BTC), but price ultimately steady

Ethereum price flat, under $300 for a month now

XRP rises impressively, again – now almost 150% up on 2018 low

Top 10 winners and losers by price change

 

Updated at 8.30am (UK GMT+1) Sept 28th, 2018..

The Top 10, as of 6.30am (GMT+1) October 1st, 2018 looked like this…

Overview

It has been a relatively calm trading period for most of the major cryptocurrencies by market cap, with the TradingView Top 10 showing a 7/3 split of extremely conservative gains and losses.. 

According to TradingView, the current total value of the crypto-asset market is $206bn. That’s flat compared to our last report on Friday, but around $70m dollars up from where it stood at this point in 2017 – just prior to the massive bull run that took Bitcoin et al to their all-time highs in the early days of 2018. 

Bitcoin’s share of that market cap, known as its ‘dominance’, has fallen away slightly over the weekend, but it still accounts for 55.5% of that amount. Among the other coins in the Top 10, XRP (Ripple on the list) is once again challenging Ethereum for the spot at the second biggest crypto by market share and cap.

At the time of writing, it holds around 11.26% of the total market to Ethereum’s 11.56%. That represents a respective rise and fall of 6% and and -2.5% in the last month, which contrasts starkly the differing fortunes of the two at the moment, as XRP’s creator Ripple continues to roll out new features for its banking-based systems, while others continue to question the usage numbers and future direction of Ethereum and other such smart contract platforms.   

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  Bitcoin (BTC), at least by cryptocurrency standards, has enjoyed a fairly calm 24hrs of trading, that has seen it’s price pick up by a extremely modest $20 cumulatively. Within that were a couple of sharp-ish price moves that have become a feature of the relatively low-volume market in which Bitcoin has operated recently, with a 1hr/$60 gain around midday yesterday (GMT+1) and a 1hr/$80 drop around 8pm last night.

BTCUSD on BitFinex chart by TradingView

Flipping back to compare BTC’s price since Friday however, and we see that it has shed some value since our last report. After an impressive – and again, sharp – lift on Friday afternoon (GMT+1), its price made it as high as $6,800 before meeting market resistance and dropping back down in price sharply. This formed another of the so-called ‘Bart’ graphs that are rapidly becoming familiar to chart watchers (due to their resemblance to the hair style of the Simpson’s character.

Indeed, the 28th saw the price of Bitcoin went on to form no less than three more Barts as sudden large buys or sells pushed the price around in an extremely choppy way.

If you have no idea what we’re talking about, how about this?

While those kind of movements look major on the charts – and are worthy of note inasmuch as they reveal the relatively low volumes of trading going on at the moment, in general terms Bitcoin’s volatility remains notably low. It currently has volatility score of just 0.91% according to TradingView, it is by far the most stable of the non-Tethered major coins – Ethereum, by contrast, scores 2.81% and XRP 5.19% over the same timeframe.

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While Ethereum (ETH) ultimately came out of the weekend at a very similar point to where it entered, it too has seen some sudden price moves along the way. On the low-side it’s price as touched $212, while the high side of it’s range has tested interest up around $240 at three separate times in the last couple of days, only to find it lacking.

ETHUSD on BitFinex, chart by TradingView

On this date a month ago, Ethereum’s price briefly touched $300, the last time it did so after first dropping below that mark in mid-August’s decline. The ensuing days have seen it hit a year-low around $167, and then pick back up roughly 40% to where it is now. It’s been a tough time.

In contrast, as recently as mid-September XRP was re-visiting its year-low point around the $0.25 mark (having dipped just slightly lower in August). Over the weekend it’s price was as high as $0.62 – marking a meteoric 148% rise in value in that time. While its price couldn’t hold at that Sunday lunchtime high, it is still up around 5c – 9.5% – since we last reported on Friday.

XRPUSD on BitFinex, chart by TradingView

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Two of the big gainers at the end of last week, Bitcoin Cash (BCH) and Litecoin (LTC), suffered corrections over the weekend.

LTCUSD on Coinbase, chart by TradingView

Trading early Saturday morning saw Litecoin dip down to as low as $59 from the $64+ mark it had held early Friday. It recovered from that 8.5% drop, to hold back around the $61 mark for the weekend.

BCHUSD on BitFinex, chart by TradingView

Having been boosted by the news of Bitmain’s IPO late last week, the market for Bitcoin Cash has been busy correcting itself and finding a new rough valuation. That currently appears to be be oscillating around the $535 mark, a drop of roughly 9% from its brief $590 high of Thursday last – though that’s still a 30% lift in value from its year-lows around $410 from the middle of last month.

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Outside Top 10:

Here are Top 10 gainers in terms of price over the last 24hrs…

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Here are the Top 10 losers.