Yesterday, the global cryptocurrency market struggled to hold the $500 billion mark, falling to a low of $430 billion. A similar trend occurred today, as most major cryptocurrencies recorded losses in the last 24 hours. Bitcoin has fallen below the critical $10,000 mark, which many analysts have described as the psychological threshold for traders.
The MVIS CryptoCompare top 100 index has dropped 2.47% in the last 24 hours to 4,673.37.
Top 10
Eight of the ten top coins by 24 hour volume have posted negative changes, ranging from 1.1 to 5.6%, in the last 24 hours. Only Litecoin (+3.98% at $220) and Ethereum (+1.18% at $851) recorded positive changes.
Bitcoin Cash ($1,162) and Ripple ($0.889) posted a loss of 1.8% while Huobi Token ($2.18) and Nano ($11.54) showed a negative change of 5.68% and 5.24% respectively.
Tronix recorded a loss of 4.39% and is currently sitting at $0.0396, with a total volume of $148M in the last 24 hours. EOS ($7.58) showed a 3.32% loss in the last 24 hours, with a total volume of $93M.
BTC
Last Friday, Coinbase announced that the company will now be implementing SegWit on Bitcoin deposits and withdrawals. The transition is being implemented this week, and should improve transaction speeds and lower fees. The announcement reads:
“We’re excited to announce support for Bitcoin Segregated Witness (SegWit) transactions on Coinbase. Over the next week, we will be gradually enabling SegWit compatible Bitcoin sends and receives for all customers.”
At the time of writing, the Bitcoin price is sitting at $9,588 representing a loss of 1.11% in the last 24 hours. More than $750M worth of BTC were exchanged in the BTC/USD market representing a 19% share of global daily volume. The BTC/JPY pair represents a 57% share.
LTC
Litecoin founder Charlie Lee made a bold prediction last Sunday. He said that Litecoin will be worth more than Bitcoin Cash (BCH) this year. Lee tweeted:
“The flippening (ETH>BTC) will never happen. But the flappening (LTC>BCH) will happen this year.”
The Litecoin price has risen 3.98% over the past 24 hours and is currently sitting at $220, with over $270M worth of LTC exchanged in the past 24 hours on the LTC/USD pair, the largest Litecoin pair, which has a 29.7% market share of the global daily trading volume.
ETH
The Ethereum price has risen 1.18% over the past 24 hours and is currently sitting at $851, with over $170M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 23% market share of the global daily trading volume. The largest Ethereum pair was ETH/BTC with a 44.8% share.
ETC
The Ethereum Classic price has dropped 4.3% over the past 24 hours and is currently sitting at $34.1, with more than $40M worth of ETC exchanged in the past 24 hours on the ETC/USD pair which has a 11% market share of the global daily trading volume. The largest Ethereum Classic pair is ETC/KRW with a 37.2% share.
