Stay 
Trading Conditions
Products
Tools
The past weekend was extremely positive for the cryptocurrency market. The indicators of the main altcoins have overcome psychological boundaries, which allowed them to show considerable growth. Despite the fact that over the past 24 hours the total cryptocurrency market capitalization has increased by 2% and reached $2.1 trillion, the main cryptocurrencies have taken a slight pause in growth.
After consolidating at $2,150, the price of the main altcoin - ETH - remained practically unchanged, and over the past day, the asset showed a symbolic growth of 0.4%. As of 10:00 UTC on April 12, the cryptocurrency is quoted at $2,150 but does not show significant prerequisites for further growth. Over the past few hours, the asset continued to show a decline in quotes by 0.4%. The local correction of the cryptocurrency is also indicated by the significantly decreased volume of daily trading, which amounted to only $27.2 billion.
The main engine of the market last week - the XRP coin - sank 4% over the past day. At the same time, the asset continues to remain in the zone of turbulence, consolidating at around $1.35. However, given the more rapid growth of the asset, as well as low support at current indicators, the cryptocurrency will continue its downward movement. This is evidenced by a significant decrease in indicators over the past few hours by 1.7%. In addition, the daily trading volume is only $14.7 billion, which indicates a clear decline in the interest of market participants in the XRP/USD pair, which could tip the asset up to $1.1.
The indicators of the LTC/USD and DOT/USD pairs have sunk. However, given the more rapid growth of Litecoin, its fall was more painful – by 3%. At the same time, the asset does not show negative dynamics of changes in indicators, as it is fixed in safe positions. And even though the daily trading volume of $8.2 billion does not predict the growth of the cryptocurrency, this will allow the altcoin not to sink so much in price. Polkadot indicators sank by 0.5% over the past 24 hours, but the asset continues to show the dynamics of a decline in indicators by 0.5%. Considering the sagging trading volume to $1.2 billion, the cryptocurrency will continue to fall in price and may drop beyond the $40 mark.
Even though the market was covered by a wave of "healthy correction", which will allow cryptocurrencies to continue to grow, the news background remains positive. For example, the head of ARK Invest Cathie Wood said that blockchain is the most promising type of innovation, which promises cryptocurrencies a big role in the future of the economy. In addition, the Telegram company began paying debts to investors through the Telegram Open Network platform, which also provoked an increase in cryptocurrency performance.
The local decline in the quotes of digital coins will not affect their further growth in any way. Taking into account that the news background around the market remains positive, and the main cryptocurrencies continue to hold strong positions, it is enough to wait for a new impulse for immediate growth.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
