Crypto Market Update for 23 Aug 2020: $XRP, $LINK, $LTC, $ATOM, $BAND

This article provides an update on the cryptoasset market, with a particular focus on the following digital assets: XRP, Chainlink (LINK), Litecoin (LTC), Cosmos (ATOM), and Band Protocol (BAND).

To give you a rough idea of how well the crypto market is doing today, half of the top 20 cryptoassets (by market cap) are currently in the green (i.e. up against USD).

According to data from TradingView, during the 24-hour period, the total crypto market cap has increased by $1.63 billion, and as of 09:30 UTC on August 23, it stands at $348.55 billion.

The Crypto Fear & Greed Index, which is based on an analysis of “emotions and sentiments from different sources”, is currently telling us that we are in “Extreme Greed” category:

All market data used in this article was taken from CryptoCompare around 09:50 UTC on 23 August 2020.

XRP (BTC)

XRP is trading around $0.2823, up 0.61% in the past 24-hour period:

In the year-to-date period, XRP is up 46.49% vs USD.

On Wednesday (August 19), Ripple published a blog post in which Adrienne Harris, a former Senior Advisor in the U.S. Department of the Treasury, explained why she believes that “Distributed ledger technology (DLT) will have an incredible impact on financial services and engender greater financial inclusion and, therefore, economic growth, especially in emerging economies.”

Chainlink (LINK)

Chainlink is trading around $15.35, up 4.21% in the past 24-hour period:

In the year-to-date period, Chainlink is up 772.16% vs USD.

Popular dutch analyst/trader “Crypto Michaël” had this to say about Chainlink’s latest price action:

Litecoin (LTC)

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Litecoin is trading around $59.14, down 0.71% in the past 24-hour period:

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In the year-to-date period, Litecoin is up 43.54% vs USD.

On August 17, On Monday (August 17), crypto investment firm Grayscale Investments, LLC (“Grayscale”), which is a wholly-owned subsidiary of Digital Currency Group, Inc. (“DCG”), announced that Grayscale® Bitcoin Cash Trust shares and Grayscale® Litecoin Trust shares had become publicly-quoted securities in the U.S. (trading under the symbols BCHG and LTCN respectively).

Cosmos (ATOM)

ATOM is trading around $7.425, up 24.64% in the past 24-hour period:

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In the year-to-date period, ATOM is up 77.88% vs USD.

This is what the founder of Dutch cryptoasset management firm BurgerCrypto.com had this to say earlier today’s about ATOM’s current rally:

Band Protocol (BAND)

BAND is trading around $11.97, up 16.33% in the past 24-hour period:

In the year-to-date period, BAND is up 5,279.77% vs USD.

Crypto-focused behavior analytics startup Santiment had this to say about the latest surge in the BAND price:

Featured Image by “WorldSpectrum” via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.