Global Cryptocurrency Market Cap Ends With a Slight Increase

The global cryptocurrency cap saw very little changes during the third quarter. Nonetheless, we observed a more than 4% increase. It opened the three-month period at $900 billion. The sector saw a lot of upward push as most cryptocurrencies saw notable gains.

As a result, it peaked at $1.18 trillion. Nonetheless, before the peak, it saw a low of $860 billion. The current valuation of the industry under consideration at this time is $943B. The most recent valuation is a result of low trading volume since September 23.

A look at the image above sheds more light on what is going on. We observed stiff movement in the 24 hour trading volume. Nonetheless, it is safe to conclude that the traders went into the third quarter with a lot of uncertainty.

One reason for this conclusion is price actions during the previous three-month period. The sector lost more than 50% as it dropped from $2 trillion to a close at $955 billion.

One dominant feature of that period was the consistent massive drops in price. However, the last 120 days came with a different vibe. The first half was filled with notable uptrends while the second half saw more downtrends and price stability.

The third quarter offered relief from the previous as more cryptocurrencies may close with gains. The image above shows an array of a different assets in greens and reds. One of these coins that piqued attention is Ripple.

XRP Closes the Third Quarter as the Top Gainer

Ripple may end the third quarter as the best-performing coin in the top 10. It is currently up by more than 45%. It picked momentum during the last month of the period under consideration.

Nonetheless, we observed notable change in price during July. Although it started slow, traders rallied the cryptocurrency during the second and third weeks. During the second, it closed with gains exceeding 5%.

It enjoyed a spillover of the bullish sentiment into the third which led it to end the week with a positive price change of 4%. The last seven-day period saw it gain more than 5%.

On the monthly scale, XRP surged by more than 14% in July. Unfortunately, it lost almost all of its accumulated gains the next month. One of the highlights during the 30-day timeframe was the third, and fourth week.

During the third seven-day period, the bears seized control of the market and sent the altcoin plummeting. As a result. It lost more than 8%. The next intraweek session saw a repeat the previous and the coin lost 7%.

On the monthly scale, XRP closed with a deficit of more than 13%., almost erasing the previous gains. It is safe to conclude that the cryptocurrency under consideration sees very little movement during the first week of the month.

The same thing happened during September. Ripple failed to record any considerable increases during the first intraweek session. It did during the second with a more than 7% surge. The fourth week accounts for most of the gains in the third quarter.

It ended that period with gains of up to 37% after peaking at $0.55. On the weekly chart, we observed several changes in indicators. One such is the Relative Strength Index. The metric is above 50 for the first time since March.

Binance Coin Ends the Third Quarter With a 30% Increase

Binance coin had one of the biggest starts to the third quarter. Following three months of consistent drop, it found support at $213 and was mostly bullish afterward. The gains were evenly spread across the 30-day period.

One indication of this is that all through the period under consideration, BNB on average recorded gains of more than 5%. For example, during the first week, it surged by more than 7%. The second week came with less input.

Following a plot by the bears to erase the accumulated gains, the bulls rallied the coin to a close at $24 which indicated a more than 5% increase from its opening price. A new peak during the third seven-day period.

However, it closed with gains exceeding 5%. It saw more bullish sentiment during the fourth week as it closed with price changes of almost 9%a and more during the last few days of the month.

On the monthly scale, BNB ended that 30-day session with gains exceeding 29%. August came with more in terms of a hike but the coin lost momentum as it progressed. One look at the monthly candles shows a long wick.

During the first week, it peaked at $336 but met rejection. The bearish sentiment continued into the second week. It saw a deeper low but rebounded and closed with losses of over 5%.

The downtrend continued into the next seven-day session. As a result, the exchange token lost 8.36% during that time. On the monthly chart, it failed to record any notable price increases or losses.

September came with a different vibe as we observed that both the bears and bulls had a field day. There was a massive high and a low as well. In the end, the coin failed to record any notable gains.

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