o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

Bitcoin Hovers Near $7K, as Wider Market Tips Back Into the Green

Posted on August 31, 2018 by nbelov

Following the mid-week’s upswing, the crypto markets saw widespread corrections, but most cryptocurrencies are today consolidating these higher lows.

Friday, August 30: following the mid-week’s strong upswing, the crypto markets subsequently saw widespread corrections, but most cryptocurrencies are today consolidating these higher lows. The vast majority of cryptos are in the green, as Coin360 data shows.

Market visualization

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,925 at press time, up around 1 percent on the day, according to Cointelegraph’s Bitcoin price index.

Having broken through the $7,000 threshold earlier this week, the top coin began to dip August 29, trading as low as $6,827 by August 30.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index

On the week, Bitcoin remains up a solid 6.45 percent, and has closed its monthly losses to around 10.6 percent.

Ethereum (ETH) is trading around $277 at press time, seeing a negligible percentage change on the day. The altcoin has barely budged in response to bullish news that the Chicago Board Options Exchange (CBOE) is looking to launch ETH futures by the end of 2018.

Having seen a strong price surge August 28-29, Ethereum is now back within the trading range it jaggedly held between August 20 and August 27. On its weekly chart, Ethereum is up 2 percent, with monthly losses at a hefty 35.6 percent.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index

All of the top ten coins are in the green, with most coins seeing minor gains. These include Stellar (XLM) – up 1.3 percent at around $0.22 – Ripple (XRP), up 0.4 percent to trade at $0.33 – and Bitcoin Cash (BCH), up 1.3 percent at $538.7.

EOS (EOS) is a strong outlier, up a bullish 5 percent on the day to trade at $6.22, capping a volatile week that nonetheless shows strong positive momentum.

EOS’ 7-day price chart

EOS’ 7-day price chart. Source: CoinMarketCap

Among the top twenty coins, Monero (XLM) is the strongest performer, up 10 percent on the day to trade at $107.78 at press time. Having dipped in accordance with yesterday’s market-wide correction, Monero has today surged beyond its trading levels earlier this week.

Monero’s 7-day price chart

Monero’s 7-day price chart. Source: CoinMarketCap

Other top twenty coins are seeing 24-hour growth of between 2 and 4 percent.

Total market capitalization of all cryptocurrencies is around $224.7 billion at press time, down $8.5 billion from its weekly peak at $233.2 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

Good news for the Asian crypto markets has been forthcoming this week, as Japanese social messaging giant LINE announced the launch its own cryptocurrency and in-house blockchain, and Japanese e-commerce giant Rakuten – which has a market capitalization of over $12.5 billion – has unveiled a $2.4 million deal to acquire domestic crypto exchange Everybody’s Bitcoin.

On Monday, the government of a South Korean province revealed it would issue its own blockchain-based digital currency in a move to replace a state loyalty scheme. The news comes at a pivotal time for the Korean crypto space, as the country’s parliament debates legalizing Initial Coin Offerings (ICOs) and even creating a Malta-style “Blockchain Island.”

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • Terra to Restart Luna Blockchain, Abandon UST Stablecoin – PYMNTS.com May 25, 2022
  • Bad News for Google…Good News for Presearch, Its Blockchain Rival – InvestorPlace May 25, 2022
  • Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund May 25, 2022
  • Brazil's Federal Revenue now requires citizens to pay taxes on like-kind crypto trades May 25, 2022
  • Binance signs MOU with Kazakhstan to further crypto adoption and regulation May 25, 2022
  • Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB May 25, 2022
  • Public Blockchain Technology in Energy Market Size, Scope, Forecast to 2028 Keyplayers | Ibm, Microsoft, Accenture, Consensys, Infosys – The Daily Vale – The Daily Vale May 25, 2022
  • JPMorgan places BTC fair price at $38k, declares crypto a preferred alternative asset May 25, 2022
  • Bitcoin creeps toward $30K, but data shows bears in favor for Friday’s $1.8B BTC options expiry May 25, 2022
  • Tracking music royalties is hard, but is blockchain really the answer? – hypebot.com May 25, 2022
  • Scott Minerd says Bitcoin price will drop to $8K, but technical analysis says otherwise May 25, 2022
  • Meter aims to navigate the multiverse of blockchain ecosystem with Sumer.money – VentureBeat May 25, 2022
  • Market Demand of Blockchain Technology in Transportation and Logistics Market with COVID19 Impact and Emerging Trends by Industry Players-2022 – The Daily Vale – The Daily Vale May 25, 2022
  • Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil May 25, 2022
  • Blockchain In Banking And Financial Services Market Size, Share, Trends, Current and Future Analysis 2022-2029 | Microsoft, Intel, IBM, R3, … – The Daily Vale – The Daily Vale May 25, 2022
  • Tax guidelines for crypto mining pass the first reading in Kazakhstan May 25, 2022
  • Blockchain and Tokenization in Commercial Real Estate – Bisnow May 25, 2022
  • PYMNTS Blockchain Basics Series: What’s Bitcoin, and How Did It Get That Way? – PYMNTS.com May 25, 2022
  • Kongregate and Immutable X launch $40M blockchain game dev fund – VentureBeat May 25, 2022
  • Cryptopedia: Learn the concepts behind stablecoins and how they work May 25, 2022
  • Blockchain Technology In Financial Market would Register a Healthy Growth of USD 49.93 billion by 2027 :IBM, Microsoft, Accenture, AlphaPoint, ConsenSys, Digital Asset, EquiChain, Infosys, R3CEV – The Daily Vale – The Daily Vale May 25, 2022
  • Singapore venture firm launches $100M Web3 and metaverse fund May 25, 2022
  • Blockmate launches blockchain IoT platform Hivello & Webinar registration – GlobeNewswire May 25, 2022
  • Crypto is changing how humanitarian agencies deliver aid and services May 25, 2022
  • GPU prices are still on a decline: Is Bitcoin’s sorrow gamers’ joy? May 25, 2022
  • StarkWare nets $100M as investors bank on layer-2 success May 25, 2022
  • Terra Will Launch a Spin-Off Blockchain This Friday – Crypto Briefing May 25, 2022
  • Ideas vs. practice: How are regulators working together on crypto? May 25, 2022
  • Blockchain Foundry and The Palmer Group Launch Metacademy, a Web3 Educational Platform Covering Blockchain, Cryptocurrencies, NFTs and More – GlobeNewswire May 25, 2022
  • Robert Rice talks monetizing the metaverse on BSV blockchain – CoinGeek May 25, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com