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The cryptocurrency market posted solid gains on Sunday, catalyzed by a sharp rise in silver in bitcoins ahead of a much anticipated range. The ten best coins Stellar XLM and Litecoin were also among the biggest contributors to the rally of the weekend.
Market Update
The combined value of all crypto-currencies peaked at $ 209.5 billion on Sunday, the highest level in three days. At the time of writing these lines, the total market was worth $ 209.1 billion, according to CoinMarketCap. Gains were associated with a 17% increase in trading volume over the last 24 hours.
Bitcoin liquidity has jumped nearly 30% since Friday, reaching a high of $ 582 on Bitfinex. The digital currency was last evaluated at $ 577, after gaining 20% over Saturday.
Bitcoin money holders are hedging their bets in anticipation of the Nov. 15 range, where they will receive new coins in a 1: 1 ratio. The price hike likely reflects the new buying interest of traders. seeking to capitalize on the new coin.
Litecoin and Stellar XLM also posted solid gains on Sunday. In the case of Litecoin, prices rose 7.4% to $ 54.74, a new high in three weeks. The price of XLM jumped 5.8% to $ 0.2395. Lumens surpassed $ 0.2400 for the first time since October 24th.
Bitcoin, the leading digital currency by market capitalization, has changed little over the weekend. The price of BTC is currently $ 6,333, virtually unchanged from 24 hours ago. As a result, Bitcoin's share of the cryptocurrency market fell to 52.5%.
China publishes new Blockchain ranking
The Chinese government has again named EOS the world's best public channel in an index that focuses on innovation and its application rather than market capitalization. The 6th Global Technology Rating Blockchain, published by CCID, awarded EOS a score of 150.5 based on technology, applicability and creativity. Ethereum was ranked second with a total index of 136.3. BitShares came in third with a total score of 110.6.
The nebulae (110.4), NEO (108.9), Steem (106.1), Ripple (103.4), GXChain (103.0), NULS (102.1) and Komodo (99.9) complete the top ten.
It is interesting to note that bitcoin saw its ranking plummet to 19th with a total score of 92.5. Just three months ago, bitcoin was the tenth largest public blockchain. Despite poor performance in basic technology and applicability, bitcoin dominated the category of creativity with a record score of 34.6. No other project has cracked 30 on this subindex.
A total of 33 public block chains were evaluated by CCID. The index, published monthly, was published for the first time in May.
Disclaimer: The author owns Bitcoin, Ethereum and other crypto-currencies. He holds investment positions in coins, but does not engage in short-term or day trading.
The selected image is a courtesy of Shutterstock.
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