Cryptocurrency market update: Bitcoin drifting lower; IOTA beats the market

The cryptocurrency market is a mixed picture in Asia as Bitcoin and significant altcoin continue oscillating within the recent ranges. The total capitalization of all digital assets in circulation increased marginally to $274 billion from $273 this time on Tuesday, while an average daily trading volume dropped to $84 billion amid slow market activity

Top-3 coins price overview

• At the time of writing, BTC/USD is changing hands at $8,660, down 0.7% since the beginning of Wednesday and -1.4% on a day-to-day basis.  The largest digital asset hit a new 2019 high on Monday and has been range-bound with bearish bias ever since.
• Ethereum, the second largest digital asset with the current market capitalization of $28.5 billion, is also drifting lower on Wednesday. The coin has lost over 1% to trade at $268.00 by press time.
• Ripple's XRP attempted a recovery towards $0.4500, but failed to keep the ground and slipped below $0.4400 by the time of writing. The coin is nearly 2% higher from this time on Tuesday, and down 2.5% from the beginning of the Asian session on Wednesday.

The biggest market-movers

• IOTA (IOT) is the growth leader today, with over 8.8% of day-on-day gains. The coin takes the 15th place in the global cryptocurrency market rating with the current market capitalization of $1.3 billion. At the time of writing, IOT/USD is changing hands at $0.47. Read more about IOTA's recent price movements.
• TRON (TRX) is the biggest loser. The coin is down nearly 7% since this time on Tuesday The 10th largest cryptocurrency is changing hands at $0.0335. Despite the decline, TRON is still 14% higher on a week-on-week basis.