The cryptocurrency market has seen a smooth and upward moving chart over the week with several major coins showing an impeccable performance in terms of price. The total market capitalization of the market has also increased significantly in the past week from $203 billion to $216 billion, at press time.
The cryptocurrency community has witnessed an outstanding altcoin rally, wherein coins such as Cardano [ADA], Stellar [XLM], Tron [TRX], IOTA [MIOTA], and Bitcoin Gold [BTG] have surged by over 10% in the past week. However, this bull run has merely affected Bitcoin [BTC]. The market king has been constantly hovering around its $6,400 range throughout the week with not much variation in the price.
The three coins which grabbed the attention of the cryptosphere include XRP, Bitcoin Cash [BCH] and Basic Attention Token [BAT] with 20.58%, 43.96% and 25.19% gain respectively, in the past 7 days.
Bitcoin Cash [BCH]
The upcoming hardfork of Bitcoin Cash has given a strong push to the market value of BCH over the past week. The cryptocurrency has topped the market list with a growth rate of 43.96% in 1 week. At the time of writing, BCH is trading at $600.73 with a market cap of $10 billion. The cryptocurrency continues to stay at the 4th position by market cap with a rally from $422 to $600 in 7 days.
The daily candlesticks of BCH are depicting a strong bullish trend with MACD signals moving towards the green zone.
Basic Attention Token [BAT]
Next in line is Basic Attention Token [BAT], with 25.19% in the past week. At press time, BAT is trading at $0.30 with a market cap of $309 million. The cryptocurrency has made to the news quite a number of times in the past weeks when BAT was launched on one of the most prominent exchange platforms, Coinbase Pro. The firm also launched its native browser Brave which is compatible with all the Chrome extensions. When these announcements were made, the coin shot up to 57%.
The coin has taken an upward surge from $0.23 to $0.30 over the week with the highest trading volume of 62.56% emerging from Binance on BAT/BTC trading pairs.
The chart depicts the 1-day candlesticks of BAT. The coin has shown an insignificant growth of 0.71% in the past 24 hours, according to CoinMarketCap.
At the time of writing, XRP is trading at $0.52 with a market cap of $21 million. XRP’s tremendous rise has led the community to a joyous week. Earlier today, XRP has surpassed Ethereum [ETH] by market cap to take the 2nd position on the cryptocurrency list. The market cap of XRP had reached $22.5 billion at that time, whereas ETH’s market cap was $22.07 billion.
The highest volume of XRP is seen to be on the Japanese exchange platform Bitbank with XRP/JPY trading pairs. The cryptocurrency has shown a steady growth over the week with its value growing from $0.44 to $0.52.
The adoption of Ripple’s xRapid by the Japanese financial institution SBI Group and the cross-border remittance service, SendFriend seems to be the reason behind the upward momentum of the cryptocurrency. Also, Malta blockchain conference’s top exchange platform OKEx announced the launch of BTC/XRP pairs for margin trading on its platform today.
The 4-hour candlesticks of XRP show a slightly bearish trend, however, the MACD signals continue to stay strong implying a bull ride in the future.
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