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Wednesday, May 1 — after yesterday’s positive market momentum, most of the top twenty cryptocurrencies are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%, as Coin360 data shows.
Market visualization courtesy of Coin360
Bitcoin (BTC) is up 0.89% on the day and is trading at $5,399 by press time, according to CoinMarketCap. After bullish price points at the start of its 7-day chart — with a break above the $5,500 on April 26 — the top cryptocurrency swiftly saw a sharp correction down to below $5,200 during subsequent trading hours. Recent days have seen Bitcoin reclaiming lost ground, and this renewed growth has brought Bitcoin’s weekly performance to a mild 1.72% loss.
Bitcoin 7-day price chart. Source: CoinMarketCap
The largest altcoin by market cap, ether (ETH), is up 0.93% on the day to trade around $160.50. The alt has seen a jagged and volatile week — ranging from above $165 on April 25 to below $153 the next day, April 26. Despite seeing solid upward momentum since April 29, Ether remains down by close to 2.5% on the week.
Ethereum 7-day price chart. Source: CoinMarketCap
XRP has reported a mild loss of 1.81% on the day, and is currently trading at $0.303. The asset’s price patterns over the week have largely correlated with bitcoin and ether, with XRP however seeing its 7-day price high on April 30. On the week, XRP has sealed a .087% gain.
XRP 7-day price chart. Source: CoinMarketCap
The top ten cryptocurrencies are largely green, with the exception of XRP, as well as native exchange token binance coin (BNB) — down 1.19% — and tether (USDT), which has lost 0.19% to cleave more closely to its U.S. dollar peg.
The strongest top 10 performer is bitcoin cash (BCH), ranked fourth largest cryptocurrency, growing 5.12% on the day to trade at $268.54 by press time.
Widening out to the top twenty: the highest gainer is 15th largest crypto cosmos (ATOM) — up 15.95% on the day to trade at $4.55 — followed by dash (DASH) — up 5.94% at around $117 — and privacy coin monero (XMR), up 5% at $64.40.
The total market capitalization of all cryptocurrencies is currently around $174.75 billion.
Total market capitalization of all cryptocurrencies 24-hour chart. Source: CoinMarketCap
In crypto and blockchain news, a new report from industry newsletter Diar has revealed that on-chain transactions on the bitcoin network hit fresh highs not seen since 2017 in April.
Also today, major crypto data provider CoinMarketCap announced it will remove exchanges from its calculations if they fail to provide mandatory data by June, in a bid to improve transparency and accountability in the crypto space.
Meanwhile, a newly-unsealed United States indictment of two individuals has apparently uncovered a connection to the shadow banking services that were implicated in two recent high-profile crypto exchange controversies — Bitfinex and QuadrigaCX.
In traditional markets, the Stoxx Europe 600 index of leading European shares set a record on Tuesday for apparent calm and low volatility, reporting the 17th consecutive trading session when its price has moved by less than 0.5%. As the Wall Street Journal reported, the longest streak of such low volatility was a 16-day run ending in May 1993.
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