Thursday, Aug. 22— Bitcoin (BTC), Ether (ETH), and XRP are all in the green. These top three coins fell from Monday to Wednesday, but are moving upwards again. Top cryptocurrencies are generally green across the board.
Market visualization. Source: Coin360
Bitcoin is trading over $10,120 at press time, representing a 0.08% price increase on the day. One analyst, a senior qualitative researcher at crypto investment fund Ikiga named Hans Hauge, believes that BTC is still in the middle of a bull run. According to Hauge, the Bitcoin Days Destroyed (BDD) metric — which is a measure of the time between movements for some amount of Bitcoin — shows that BTC is not yet at the top of a market bubble.
Bitcoin 7-day price chart. Source: Coin360
The number two cryptocurrency, Ether, is one of the higher-performing tokens on the day. At press time, ETH is trading at $190.99 and has moved up in price by 3.52%. However, cryptocurrency investor and Placeholder partner Chris Burniske said just yesterday that ETH is in a bear market right now. However, he appears to believe that ETH will continue upward eventually, and noted parallels to BTC’s price patterns. Burniske remarked:
“To objective observers, the network’s momentum was clear despite the bearish price action; those predisposed to dislike based on perceived vested interests, were blinded by biases & missed the bus. What happened to $BTC then is happening to $ETH now.”
Ether 7-day price chart. Source: Coin360
XRP, the second-largest altcoin by market cap, is trading at $0.27 and has increased by 2.25% on the day as of press time. XRP was the target of a coordinated selloff on the young crypto exchange Beaxy a little over a week ago. Beaxy moved to halt trading after XRP/BTC price plummeted to 40% of its trading value on different crypto exchanges.
XRP 7-day price chart. Source: Coin360
One of the top-performing cryptocurrencies today is EOS. EOS is trading at $3.63 and is up 4.05% on the day at press time. EOS is the 7th largest cryptocurrency by market cap and is a coin used on a platform of the same name for creating decentralized apps, also known as DApps.
The total market capitalization of the top 100 cryptocurrencies is over $265 billion at press time, per the data from Coin360.