September 27th: the markets are more or less at a standstill today, with the board somewhat evenly divided between losses and gains. However, some coins have seen remarkable gains during the past day, most noticeable Bitcoin Cash and Litecoin.
Nevertheless, the cryptocurrency industry as a whole is still noticeably up from Toshi Times’ last price analysis, as the total cryptocurrency market capitalization has risen to more than $217 billion at the time of writing, seemingly having left the $200 billion barrier behind during last week.
The following market visualization from Coin360 shows how the major cryptocurrencies are more or less evenly divided between losses and gains. However, the market as a whole has risen somewhat, due to very slight losses across the board and more marked gains in coins such as Bitcoin Cash.
If one looks at Bitcoin instead, the premier cryptocurrency is trading slightly down today, but is still commanding a price of more than $6,500. Currently, Bitcoin is trading for $6,504.51 which translates to a decrease of a slight 0.49%.
Moreover, the attached chart from CoinDesk over Bitcoin’s development the last day shows that although the cryptocurrency is down, it has recovered much of its losses for the day. Furthermore, it appears as if it is currently heading slightly up.
Toshi Times recently covered the low volatility currently seen in Bitcoin. Although this could be attributed to the cryptocurrency simply being larger and more stable than other cryptocurrencies, it also noted the lack of directional bias in the market – something which is clear when viewing the market movements during the past day.
Ethereum is also slightly down, albeit more than Bitcoin. At the time of writing, Ethereum is trading at $218.35, which constitutes a minor reduction of 0.68% during the last 24 hours.
The following graph, also from CoinDesk, shows that Ethereum – much like Bitcoin – has been trading more or less down during the past day, but has most recently recuperated most of its intra-day losses.
Ripple has also seen losses today, declining by 2.53% to a price level of $0.5238. EOS is also part of the red crowd, decreasing by 0.43% to $5.59.
Bitcoin Cash, on the other hand, has seen noticeable gains during the past 24 hours. At the time of writing, Bitcoin Cash has rocketed by a notable 9.55% during the past day, reaching a price of $563.02.
Other coins in the green include Litecoin, which has increased by 6.74% to $62.54, and Stellar has risen by 2.44% to $0.2601. ADA has increased by 4.48% to $0.0856 and Monero is up by a mere 0.18% to $117.13.
This comes as there is currently much talk about regulation and regulatory frameworks for cryptocurrencies. Most recently, leaders in the cryptocurrency industry urged US Congressmen to ”figure out regulations before it is too late”.
Image Source: QuoteInspector.com
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.