Both Bitcoin and Ether record increases for this July 31, a trend that was also present among the main altcoins of the ecosystem.
Another month of 2020 ends and the main cryptocurrencies again go up, highlighting this July 31 the cases of Bitcoin, Ether and other reputed digital currencies of this ecosystem.
Bitcoin surpassed USD $ 11,200 this July 31
Once again the price of Bitcoin (BTC) is again trend, as this July 31 at 10:00 AM (New York time), is quoted at about USD $11,150, with an increase equivalent to 2.86% compared to what was seen yesterday.
Examining in detail the graph corresponding to the evolution of the price in the last 24 hours, we have to from midnight of this July 31 the value of Bitcoin began to increase after being slightly below the USD $11,000. Subsequently, at 2:45 am it reached USD $11,100, and from then on, irregularly, it continued its way to exceed USD $11,200 at 8: 30 am.
As we indicated in a previously published article, this increase in the price of the digital currency coincidentally coincides with the movement of crypto whales (users with a large amount of cryptocurrencies) towards the main exchanges, which drives the volume of commercial transactions on such platforms. It should be noted that between 8:30 a.m. and 8: 45 a.m. on July 31, there was a significant peak in buying / selling activities, as more than USD $1,448 million moved in just 15 minutes.
Based on the above and the possibility of mass sales to secure positions, our actionable signals service still ranks the Bitcoin market with indicators down, so we invite readers to be very attentive to market fluctuations in the coming hours.
Ether and major cryptocurrencies also go up
Peaking the good streak seen in the Bitcoin market, the second-largest digital currency, Ether (ETH), also recorded a significant increase this July 31, trading for the moment of edition at about USD $342 with gains above 7%.
According to some analysts, this increase seen in the price of Ether is presented in the framework of the fifth anniversary of the operation of the Ethereum network, which is preparing to move to Version 2.0 in the coming months.
As for the rest of the major altcoins, currencies such as Bitcoin Cash( BCH), Litecoin (LTC), Binance Coin (BNB), Chainlink (LINK), Tezos (XTZ), VeChain (VET) and Ethereum Classic (etc) record increases of more than 2% of their value in the last 24 hours.
Winning and losing cryptocurrencies
For its part, with the largest percentage increases of the day stand out the cases of Bancor (BNT) with 23.66% and Synthetix Network Token (SNX) with 10.7%.
For its part, with the most pronounced falls of the day we have Elrond (ERD) with 10.26%; AAVE (LEND) with 8.69% and ABBC Coin (ABBC) with 8.07% in the last 24 hours.
Major markets react differently
Finally, the current state of the digital currency ecosystem goes hand in hand with diverse reactions among the main indices of the traditional market.
While the NASDAQ index points to a slight increase of 0.34% for the time being, the S & P500 and Dow Jones reflect slight declines of 0.16% and 0.45% respectively. Therefore, the market seems to maintain a downward trend, but the next few hours will show a clearer outlook with respect to the evolution of the day.