Markets Quiet as Most Major Coins Report Small Gains, Bitcoin Hangs Below $3,500

Feb. 1 - Markets are relatively quiet, as major coins are trading sideways, with most seeing small gains over the 24-hour period.

The top cryptocurrency Bitcoin is hovering below the $3,500 mark, trading at $3,492 at press time.

The coin is up by.71 percent on the day and is still down by 2.85 percent on its weekly chart.

Ripple is down 1.18 percent on the day, following large gains made on Jan. 30.

On its weekly chart, XRP is down 1.18 percent from $0.314 on Jan. 25.XRP 7-day price chart.

On its weekly chart, the token is down 7.43 percent after plunging from $116.17 on Jan. 27.

According to CoinMarketCap, both coins are up 5.17 percent and are trading at $33.31 and $6.55, respectively.

Total market capitalization of all cryptocurrencies is down 11 percent on the month following a sharp drop on Jan. 10.

In traditional commodities markets, oil prices are rising after Saudi Arabia cut supplies to the U.S. A jump in prices yesterday followed a report by the U.S. Energy Information Administration which showed that America-bound imports from the OPEC founder were decreasing.

While April gold is down 0.20 percent to $1,322.