Bitcoin Price Drops Down 5% ($200+) to $3,805 USD, Pulls ETH, XRP, BCH and LTC into a Sea of Red

2019-1-10 11:37

Cryptocurrency Market Capitalization Falls More than $8 Billion

The cryptocurrency market capitalization has abruptly fallen $8 billion in just a few hours and several digital assets have changed their relative positions in the top 10. When Bitcoin (BTC) seemed to be operating stable close to $4,050, the popular digital asset dropped more than 5% in less than two hours, reaching $3,840.

The whole cryptocurrency market followed immediately after. The most important digital assets in the market are currently falling. Ethereum (ETH) is losing 8.61% in 24 hours and XRP is down 3.29%. For just a few minutes, XRP recovered the second position in the market, surpassing Ethereum. However, the Ripple Coin XRP couldn’t sustain this spot for a long time, Ethereum has once again a market cap $4 million dollars larger than XRP. The distance between these two assets remains too small, so anything can happen.

Bitcoin Cash (BCH) seems the most damaged digital asset among the top 15. It lost more than 11% of its value in just a few minutes, similar to what happened to other cryptocurrencies. Nevertheless, it still remains the 4th largest cryptocurrency by market capitalisation. Each BCH can be purchased for $143.

EOS, Stellar Lumens (XLM) and Litecoin (LTC) are also behaving negatively. They lost 3.59%, 4.63% and 8.62% respectively. Stellar Lumens surpassed Litecoin once again in the market. These two digital assets were competing against each other to retain the 6th position.

Tron is the big winner. Tron (TRX) increased 15.53% in the last 24 hours, and it’s the largest winner among the top 100. The drop did not affect Tron that seems to keep growing even when other digital assets are losing more than 10% of their value. This shows how strong the fundamentals behind this cryptocurrency are.

There are many developments that could change the future of this coin and the future of the digital currency space. At the time of writing, Tron has a market capitalization of $2.04 billion. If it keeps growing, it could eventually surpass Litecoin, with a market capitalization of $2.17 billion. In the last few days, Tron surpassed Bitcoin SV (BSV) and Tether (USDT).

Bitcoin SV is currently falling 7.7% and has a market capitalization of $1.42 billion. If it keeps falling stronger than Cardano (ADA), ADA could reach the top 10 in the near future.

Meanwhile, the whole market capitalization dropped more than $8 billion in just a few minutes falling from $138.43 billion down to $129.74 billion.

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Markets Update: Bitcoin Cash Gains More Than 140% This Week

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2018-12-24 22:25


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Markets Update: Cryptocurrencies Are Still Blood Red

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2018-12-5 23:15


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Markets Update: Cryptocurrencies Shed Billions in Bloody Sell-Off

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2018-11-20 20:05


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Storonsky: ‘No Interest from Big Institutional Investors’ (Why He’s Wrong)

Last week, Bitcoinist argued that cryptocurrency enthusiasts should stop waiting for institutional investors to arrive — because they’re already here. Not everyone shares that opinion.   According to a recent report from Bloomberg, institutional investors don’t have much of an ‘appetite’ for digital currencies.

2018-11-10 08:00


VanEck’s Chief Strategist Eyes Multi-Billion Dollar Investment in Bitcoin ETF

The launch of the first Bitcoin exchange-traded fund (ETF) could witness the space attracting as little as a few billion dollars, predicted Gabor Gurbacs. The director of Digital Assets Strategy at VanEck made the bullish prediction during an interview with CNBC Crypto Trader hosted by Ran Neuner, while explaining the possible outcomes from a successful.

2018-11-9 13:06


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Coinbase Surges 400% in a Year, Crypto Exchange Now Valued at $8B

While the value of the cryptocurrency market has declined since the start of 2018, Coinbase, the largest crypto exchange in the U.S., is bucking the trend of the industry it serves. Instead of mirroring the declining prices of digital currencies, the value San Francisco-based wallet and exchange skyrocketed to a shocking $8 billion after its […] Coinbase Surges 400% in a Year, Crypto Exchange Now Valued at $8B was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-2 21:29


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Crypto Platform Coinbase Secures $300 Million in Series E Funding Round

Popular cryptocurrency exchange Coinbase has raised a fresh $300 million in a Series E financing round, bringing the company valuation to $8 billion. Coinbase plans to use the funding to "accelerate the adoption of cryptocurrencies," as it plans to remain the "entry-point into crypto" for millions of investors, according to a published blog post.

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