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Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Remain in Limbo While Binance Coin (BNB) Sees 4 Percent Increase
The cryptocurrency market has shown an impressive level of stability – most top 10 coins remain in the green, but with miniscule price gains. Binance Coin (BNB) turned out to be the best-performing asset from the pack with its price increasing by 4.52 percent at the time of writing this article.
Darryn PollockA turbulent start results in a stable week
The last week of February started with a major correction that made the total market capitalization shed a whopping $13 bln in a matter of hours. Bitcoin (BTC), the flagship cryptocurrency, took a nosedive with its price falling below the $4,000 mark. Naturally, major altcoins followed suit by recording double-digit losses.
The news about Coinbase listing XRP made the prices surge again (XRP spiked 10 percent in a snap), but the effect wasn’t long-lasting. Now, the market remains in limbo (BTC - $3,868.61, ETH - $139.38, XRP - $0.31). BNB, which currently stands at $9.97, is the only coin that made a sizeable move.
Winning retail investors back
The stability is not necessarily a good thing since, according to crypto trader Alex Krüger, BTC has to surge above the psychologically important mark of $6,000 in order to win back retail investors. Krüger compared the BTC trading volumes to a cemetery.
While Bitcoin is losing retail investors, more institutional investors are dipping their toes into cryptocurrencies. Mike Novogratz claimed that it would be a driving factor behind the next bull run.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov