Crypto Markets Hold Recent Gains, Bitcoin Gaining Momentum Over $6,500 Price Point

Crypto markets are consolidating their latest positive aspects, as we speak, July three, as information from Coin360 reveals, with Bitcoin (BTC) buying and selling above $6,500. Markets took an upswing beginning June 30, and have since stabilized their development, with a lot of the prime cash seeing small positive aspects and losses on the day to pres time.

Market visualization from Coin360

Bitcoin is buying and selling presently round $6,560 at press time, down simply 1.5 p.c over the 24-hour interval. The main cryptocurrency has seen an intraday excessive of $6,687, holding comfortably above the $6,300 resistance stage, which Fundstrat’s Robert Slyumer earlier this week mentioned can be essential for gaining momentum to reverse its latest downtrend.


Bitcoin Price

Bitcoin value chart. Supply: Cointelegraph Bitcoin Price Index

High altcoin Ethereum (ETH) is buying and selling round $464 to press time, down 2.four p.c over the previous 24 hours. The coin say an intraday excessive of $484.5, and is up about four p.c on the week.


Ethereum Price

Ethereum value chart. Supply: Cointelegraph Ethereum Price Index

On CoinMarketCap’s listings, the highest ten cash by market cap are seeing blended reds and greens, most are exhibiting solely minor proportion positive aspects and losses.

Ripple (XRP) is considerably out-performing different main altcoins, seeing a stable three p.c acquire over the 24 hours to press time, buying and selling at $zero.49.

Ripple’s comparatively robust development comes regardless of rising competitors in blockchain-powered platforms that concentrate on interbank options. Earlier as we speak, European blockchain buying and selling platform we.commerce confirmed it had accomplished its first reside operations as we speak between 5 main banks and twenty corporations, utilizing IBM’s Blockchain Platform, underpinned by Hyperledger Material.


XRP seven day chart from CoinMarketCap

Whole market capitalization of all cryptocurrencies is at round $268.three billion at press time, up a big 15 p.c from an intra-weekly low of $232.6 billion June 29.


Whole market capitalization of all cryptocurrencies from CoinMarketCap

Optimistic information has been forthcoming this week from The European Parliament, whose new report suggested lawmakers to not “ban” or “ignore” cryptocurrencies, forecasting that they “will stay with us for some time.” The report praised crypto international transaction networks as being “comparatively secure, clear, and quick,” and characterised cryptocurrencies” as “a recent type of personal cash.”

With the markets’ vigorous rebound in late June and present consolidation, many shall be eyeing the response of institutional buyers.

Simply yesterday, main U.S. crypto change and pockets supplier Coinbase introduced that its digital property custodian resolution for institutional buyers had launched, secured via an SEC-compliant and FINRA-member unbiased broker-dealer.

Coinbase had beforehand mentioned it believes the best companies and funding devices for the crypto house may “unlock $10 billion of institutional investor cash sitting on the sideline.”

About Tom Greenly

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