Cryptocurrency Markets Maintain Momentum Despite Slight Retracement

The cryptocurrency markets continued their positive momentum on Wednesday evening as most of the coins held on to the double-digit gains achieved over the past 24 hours. Most importantly, altcoins acted independently of the bitcoin price, with several performing significantly better than the largest cryptocurrency by market cap.

As of press time on Wednesday, BTC was trading at around $6,350, having briefly even crossed $6,600 during the day before falling back. Ethereum roared back to the $300 mark, as noted earlier, although it had gone down slightly to the $286 level at press time — still a rise of 10 percent overall.

Perhaps the most sluggish of performers was bitcoin cash, which only rose by five percent to settle at the lower $510’s after having even touched the $530 level during the day. Ripple (XRP) also managed to claw back some of the massive losses experienced over the past days with a solid 12 percent gain and was trading at $0.288 on Bitfinex, although it had…