- Bitcoin Cash and Bitcoin SV are closely correlated
- XRP and Stellar Lumens are also closely correlated
- XRP and XLM posted a similar amount of gains
Bitcoin Cash News Today – the digital asset market has been in the green zone since the turn of the year. In fact, during the last year, the bulk of these altcoins have moved in a similar price trend with respect to each other. This is called a correlation. Of course, Bitcoin’s dominance, as well as its price alterations, has reportedly been one of the leading factors behind the overall price changes in most altcoins.
Nevertheless, we have had any idea of several alt-seasons from the past several months ago. One of the notable trends in the digital asset space is beginning to take shape now. This is a highlight of how some altcoins move in correlation with each other.
Bitcoin Cash and Bitcoin SV Have Been Closely Correlated
The digital assets Bitcoin Cash and Bitcoin SV are one of such tokens to be closely correlated, the two forks of Bitcoin, have reportedly had a certain degree of correlation in their price movements over the last year. However, the high volatility in Bitcoin SV has been higher than that of Bitcoin Cash (BCH). Hence, the coin’s risk-reward ratio is now higher than the other as well.
In terms of hash-rate (a concept that follows price), the rise in the price is causing an increase in the total hash rate of both cryptos as well. Bitcoin SV (BSV) miners have failed at their move to lead BCH in terms of hash-rate because the price of the asset entered a bullish run. The price movements of both coins and their total hash rate are actually very close.
XRP and Stellar Lumens are Also Closely Correlated
One other crypto trading pair that usually move in tandem is the XRP and Stellar Lumens [XLM] tokens. The correlation between these altcoins and the rest of the market has been positive in the past year. However, the price movements between the altcoin pairs are close and synchronized together.
In the last few days, the price trend between the XRP and XLM tokens was observed once more as they posted equivalent gains of 20% which is close. The gains they posted are close enough to call a correlation. Recently, the trading pairs also exhibited a similar gain. This was after the run-up in OKex Coin. The correlation between the crypto trading pairs can be utilized to implement the diversification of your portfolio altcoins. So XRP and XLM are closely correlated.