Cryptocurrency Industry: Bullish Uptrend for Many Altcoins

Jan 27, 2020 at 15:43 // News
Coin Idol
Market recovery for the cryptocurrency sector greatly increases global capitalization

The market recovery for the cryptocurrency sector greatly increases global capitalization and price of several binary coins. To motivate the bullish uptrend some good news and the usual cascading effect.

The entry and permanence, finally, in positive territory make the joy of many investors who even in recent times, characterized by the recession of the cryptocurrency market, have maintained their exposure. Indeed, the high volatility of some of these digital assets means very significant gains. Let us take a closer look at the current situation.

Most Awarded Altcoins in the Cryptocurrency Industry Today

The biggest rise in the cryptocurrency sector sees Ethereum Classic atop the podium. At the time of writing, this altcoin boasts a 41% increase compared to 24 hours ago, bringing its value to more than 11 euros. This is due to the fork, which makes the ETC token compatible with the Ethereum blockchain. It was from 2018 that this digital currency did not boast such a remarkable bullish trend.

Looking at the top 20 positions in the cryptocurrency sector, there are also very positive performances for bitcoin cash ($370, 13.06%), Tezos ($1.51, 0.06%), Stellar ($0.059795, 2.68%) and Chainlink ($2.64, 5.51%) cryptocurrencies. All 5 currently enjoy a bullish trend that sees them rise by more than 15% compared to yesterday. BCH also managed to oust stablecoin Tether from the 4th position, in which it had been based for months. But it is not the latter that has lost value. UsdT's market cap, which is hovering around $5 billion, is indeed slowly but steadily rising. The difference therefore depends on the leap forward of Bitcoin Cash, which today is worth about $370 and boasts a capitalization of around 6.77 billion dollars.

Bullish trend over 2% also for Litecoin, Monero, Cardano, Cosmos and Neo. Perhaps a little positive results for Binance Coin (BNB) - $1.82, $17.6 - are surprising. The eponymous exchange in recent days has made headlines for one of the usual, yet still disturbing issues related to unclean transactions; In general, however, its level of security is also questioned.

And the queen of the entire cryptocurrency market, Bitcoin? He is currently in excellent financial health. Its market cap has risen around 160 billion dollars, while the price of a single token, which in one week ago exceeded the threshold of 9,000 dollars, is now just over 8,740. As a well-established rule, BTC continues to massively influence the trend of the crypto market. As is often the case during bullish phases, however, its dominance fluctuates slightly downwards. Today it is about 66%, while during the last "red storm" it reached 65%.

As for Ethereum, which in the cryptocurrency industry has the record on every other altcoin, today it is close to 170 dollars. Finally, good results for Ripple, which is currently listed at around 0.23 euros, 3.81 percent and a market cap of 10.16 bln USD.

Here are the Cryptocurrencies in the Red

Among the cryptocurrencies in downtrend is Tether (USDT), with movement of less than 0.29%. Today it's worth about $1.00. At the moment, however, it is in the 6th position, on the merits of the market cap of $4.65 billion, is certainly not bad.

Negative territory also for UNUS SED LEO (LEO), currently in 18th position. In the cryptocurrency industry, LEO appears to be one of the tokens with a more glorious past, however it still has a capitalization of approx. one billion dollars and a price that is close to 1 dollars.

For the foreseeable future, bad news permitting, analysts are leaning towards the continuation of the uptrend. The cryptocurrency industry therefore confirms itself as one of the most profitable. 

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