Hi Readers, welcome to cryptocurrency price analysis for the week. Do not forget to check movers and shakers for this week at the last of the article.
Bitcoin saw some mixed sentimental moves this week but maintained to stay in green this week with a rise of over 1%. As of now, Bitcoin sits over USD 3700 maintaining an upward trajectory since last week. The prices hit a high point of USD 4210.64 and the lowest point of USD 3787.06 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (7.30%), CoinBene (4.20%) and OEX (3.11%)
Among prominent news around Bitcoin, Twitter co-founder and CEO Jack Dorsey have recently shown off a recently received Bitcoin Lightning Network full node he got from Casa, further showing the entrepreneur’s commitment to the flagship cryptocurrency and its layer-two scaling solution.
Ethereum continues its hold on second place and looks a little distant from the number 3 XRP for some time now. On the top, this week was at USD 165.55 and was at lows of USD 131.60. The markets that were more active, in volumes, with ETH across various pairs this week were DOBI Exchange (3.46%), EXX (3.40%), and OEX (3.02%)
Among news around Ethereum Constantinople, an upgrade to Ethereum’s network has gone live. The upgrade marks the end of a month-long wait due to the discovery of potentially hazardous security vulnerabilities in the upgrade’s underlying code.
XRP continues to hold the number 3 position. On the top, this week the prices of XRP were at USD 0.341581 and towards the bottom, it quoted USD 0.299331. The exchanges that were more active, in volumes, with XRP across various pairs this week were, Bitmax(23.26%) ZBG (6.92%) and ZB.conm (5.62%)
For XRP this week, with Coinbase listing this week, Ripple, the parent company behind the XRP coin, has had to deal with several accusations that the company paid for the currency to be listed on the exchange. Clarifying the same, Ripple’s Head of Markets Miguel Vias heard the allegations against his company and responded promptly. In a twitter exchange with U.K.-based investor Alistair Milne, who promoted the accusation of Ripple paying for XRP on Coinbase, Vias responded that his company had nothing to do with the listing. Instead, Vias claimed that the addition of XRP was an independent decision by Coinbase, stating
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on March 03 at 11:35 pm IST) were
- Snapcoin [SNPC] – Showing a rise of 232.97%
- ABBC [ABBC] – Showing a rise of 182.92%
- Morpheus Labs [MITX] – Showing a rise of 181.97%
- S4FE [S4F]- Showing a drop of 59.11%
- Ailink Token [ALI]- Showing a drop of 55.69%
- Spendcoin [SPND] – Showing a drop of 52.74%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
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A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com