It is the reason why any cryptocurrencies have grown in value that all traders need to understand, if they are going to be in a good position to be able to determine if that rise in value is going to continue into the trading week, or whether it is purely a blip.
The last 24 hours have been and interesting one, for once again all of the major digital currencies have risen in value, of various amounts, with the likes of Bitcoin jumping 2.21% in value, and Ethereum and XRP rising in value by 3.10% and 7.25% respectively.
However, what would cause those three top cryptocurrencies to grow in value, especially on a Sunday in August that is what you will need to get your head around, if you are planning on pairing up any of them in trades you are going to be placing this coming week.
Well, it is the case those digital currencies have been in demand, what that demand is however is hard to tell, but with many people jetting off on holiday or currently being on holiday the money swilling about on the digital currency exchanges are likely to be big investors, which does of course mean demand could continue into the week and the value of Bitcoin, Ethereum and XRP could continue to rise.
Bitcoin Cash and EOS Also on the Rise
Bitcoin Cash was of course devised as a fork of the Bitcoin blockchain with the hope of it becoming a cryptocurrency people would use for its intended purposes rather than as a form of investment and trading opportunity, but trade on its value is something traders are doing and it has also increased in value by some 4.08% over the last 24 hours.
EOS has also been in big demand for its value has being up and down recently, but over the last day it has been growing in value and reached a high regarding its value of an increase of 4.45%.
Monero and Litecoin Show Modest Gains in Value
Any cryptocurrency that does have a fixed price per unit such as Tether are not going to be ones that traders will look at as a form of investment, and as such any of the other top 10 cryptocurrencies can rise in value independently of all others.
As far a Stellar is concern that coin have grown in value by some 1.51% over the last 24 hours and he rise in value of Litecoin, Cardano and Moreno has been 1.52%, 3.80% and 4.75%, which may be a trend that will continue in the week.