According to the cryptocurrency trading platform StormGain, the most popular cryptocurrencies do not show common dynamics on Tuesday. Ethereum looks worse than the rest, its quotes suffered from the news that a massive withdrawal of the digital asset was noted on the digital exchanges of China. Investors are deleting their accounts on exchanges and encouraging other users to do the same. Chinese crypto exchanges are worried about this situation and are trying to take some measures to counter the withdrawal of Ethereum, but have not yet come up with an effective way to solve this problem.
Other popular cryptocurrencies are still in the positive area (Bitcoin and Litecoin look better than the rest, although the growth of their quotations does not exceed 1%), despite the fact that in general the situation in the global financial markets remains quite alarming due to the consequences of the coronavirus pandemic for the global economy and the threat of a second wave of disease. Investors continue to have their finger on the pulse and can start getting rid of assets at any time.
It is possible that the most popular cryptocurrencies may grow a little more due to the fact that a correction is still ripe in the market, but the rise will most likely be very moderate due to the difficult situation in the global financial market. Bitcoin is unlikely to rise above the $10,350 mark soon, Ethereum has a chance to grow to $350, Bitcoin Cash to $230, XRP to $0.25, and Litecoin to $50.