Blockchain Weekly Report

Cryptocurrency Market Seeing Some Losses as Recent Drop is Solidified

Market Report ToshiTimes

October 12th: the cryptocurrency markets have not seen any radical movements following yesterday’s drastic, industry-wide drop in cryptocurrency prices. Moreover, the total cryptocurrency market capitalization hovers just above the $200 billion barrier.

The following market visualization from Coin360 shows that the cryptocurrency boards are split between green and red. Although both losses and gains are plentiful, the major cryptocurrencies are still down somewhat, and the gains seen are in all probability a reaction to yesterday’s sharp drop in prices.

Bitcoin Price

The total cryptocurrency market capitalization is now close to the physiologically notable $200 billion dollar barrier. At the time of writing, the total crypto market capitalization is just north of $202.5 billion, and the total trade volume over the past day sits at $13. 7 billion.

 

Nevertheless, Bitcoin is seeing some slight gains over the past day. Currently, Bitcoin is trading at $6,306.08, which represent an increase over the past 24 hours of 0.26%.

The following chart from CoinDesk clearly demonstrates that Bitcoin has traded significantly lower during the last day, but the intraday price trend of the cryptocurrency does seem to be positive.

Bitcoin price chart

Ethereum, on the other hand, is down at the moment of writing. Ethereum has seen losses of 1.50% during the past day, and this coupled with the weeks earlier losses means that Ethereum is now trading at $198.74.

Somewhat notably, this means that Ethereum has once again crossed south of the $200 barrier, which it has consistently traded above during the past month.

The following market visualization from CoinDesk shows that Ethereum, much like Bitcoin’s intraday price performance, slumped earlier in the day but has since recovered much of its valuation.

Ethereum Price Chart

Nevertheless, Ethereum is still trading down over the past 24 hours, unlike that of Bitcoin.

The rest of the major cryptocurrency coins are more or less evenly split between gains and losses. Ripple is showing some noteworthy gains, trading at $0.42746 at the time of writing, which means that it has surged by 4.23% during the day.

Moreover, Litecoin is also up 1.30% over the past day, trading at $53.41, as is TRON – which has increased by 3.92%, which translates to a price of $0.02331.

However, many other coins are seeing losses – such as Bitcoin Cash, which has decreased by a slight 0.36% to $447.25. EOS is also down, by 1.97% to $5.21, and Stellar has lost 0.42% and trades at $0.21712.

Overall, the major cryptocurrency coins are still clearly somewhat reeling from yesterday’s sharp drop in the valuation of most coins, and it remains to be seen how it will continue to develop during the weekend.

Image Source: “Google”

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.


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