Crypto Market Drops $5 Billion as All Major Coins Take Price Hit

Must Read

Bank Of England Claims That Cryptocurrencies Could Make Banking Systems Redundant And Useless

Bank of England, Deputy general, Jon Cunliffe stated that the rise of cryptocurrencies and stablecoins could result in...

Africa’s First Bitcoin ATM Card Launched By Patricia in Niegeria

First Bitcoin ATM Card unveiled in Africa by Patricia to streamline the interaction between Bitcoin and its users. ...

FCoin Makes Attempt To Rise From The Dead, But They’re Struggling

Cryptocurrency exchange, FCoin After reporting insolvency on February 27, is now making scraping attempts to get back into...
5d85c99dd353c-bpfull
Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Today, cryptocurrencies are seeing price weakness across the board, with virtually all of the top 100 coins by market cap tipping into the red. Top ten coins have lost between 3 and 7 percent on the day.

Bitcoin (BTC) is down about 4 percent on the day to press time, slipping from a 24-hour high of ~$3,755 to its current price point around $3,570.

The top coin has now come virtually full circle on its 7-day chart and is trading just 0.5 percent down on the week. Monthly losses are nonetheless at a heftier 11 percent.

 

Second largest altcoin Ethereum (ETH) is down 5 percent on the day and is trading at ~$117 to press time. Despite a strong price surge to above $130 Jan. 15, Ethereum’s protracted decline has brought it back down almost full circle, losing just under 1 percent on the week.

Over the medium term, Ethereum is trading slightly higher than it was at the start of its one month chart, up 2.17 percent on the month.

Ripple is down a slight 2.4 percent on the week, but monthly losses are much higher, at 13.6 percent. Ripple (XRP), currently the largest altcoin by market cap, is down fractionally less, shedding 3.4 percent on the day to trade at ~$0.317 to press time. Ripple’s market share is currently $13 billion — as compared with Ethereum (ETH)’s ~$12.2 billion.

 

Tron (TRX) is currently the only top twenty coin in the green, up until a solid 2.86 percent on the day. The total market capitalization of all cryptocurrencies is around $119 billion as of press time, down 4.3 percent on the day, but seeing virtually no change on the week. 

The remaining top twenty coins on CoinMarketCap are all in the red, with losses ranging between 2 and 8 percent. Maker (MKR), ranked 20th, is down the most losing 8.13 percent on the day to press time. Litecoin (LTC), ranked 8th largest, is also down close to 5 percent, and Cardano (ADA), ranked 11th, is down over 4 percent on the day.

Hot News

Bank Of England Claims That Cryptocurrencies Could Make Banking Systems Redundant And Useless

Bank of England, Deputy general, Jon Cunliffe stated that the rise of cryptocurrencies and stablecoins could result in the banking system running dry...

Africa’s First Bitcoin ATM Card Launched By Patricia in Niegeria

First Bitcoin ATM Card unveiled in Africa by Patricia to streamline the interaction between Bitcoin and its users. This proves a new platform...

FCoin Makes Attempt To Rise From The Dead, But They’re Struggling

Cryptocurrency exchange, FCoin After reporting insolvency on February 27, is now making scraping attempts to get back into the game. FCoin reported a...

Gilded Partners With TrustToken To Bring Payments On Stablecoins Backed By 5 Popular Fiats

Blockchain-based accounting solution start-up, Gilded has now partnered with financial infrastructure provider, TrustToken. This partnership hopes to be highly valuable and beneficial for...

Where will Bitcoin Head Post Bitcoin Halving 2020, Detailed Analysis

Bitcoin Halving 2020 is just around the corner and every enthusiast and market watcher are on their feet to witness the Halving. The...

Ripple Plans to Launch Third Party Cryptos on it’s Network – Ripple CTO

Ripple CTO, David Schwartz said Third-party cryptocurrencies can soon be launched on the networks of Ripple, said the company’s CTO. David Schwartz, was...

Africa’s First Bitcoin ATM Card Launched By Patricia in Niegeria

First Bitcoin ATM Card unveiled in Africa by Patricia to streamline the interaction between Bitcoin and its users. This proves a new platform...

FCoin Makes Attempt To Rise From The Dead, But They’re Struggling

Cryptocurrency exchange, FCoin After reporting insolvency on February 27, is now making scraping attempts to get back into the game. FCoin reported a...

Gilded Partners With TrustToken To Bring Payments On Stablecoins Backed By 5 Popular Fiats

Blockchain-based accounting solution start-up, Gilded has now partnered with financial infrastructure provider, TrustToken. This partnership hopes to be highly valuable and beneficial for...

Where will Bitcoin Head Post Bitcoin Halving 2020, Detailed Analysis

Bitcoin Halving 2020 is just around the corner and every enthusiast and market watcher are on their feet to witness the Halving. The...

RELATED NEWS

Bank Of England Claims That Cryptocurrencies Could Make Banking...

Bank of England, Deputy general, Jon Cunliffe stated that the rise of cryptocurrencies...

Africa’s First Bitcoin ATM Card Launched By Patricia in...

First Bitcoin ATM Card unveiled in Africa by Patricia to streamline the interaction...

FCoin Makes Attempt To Rise From The Dead, But...

Cryptocurrency exchange, FCoin After reporting insolvency on February 27, is now making scraping...