Bitcoin News — Coinmarketcap

Six New and Improved Cryptocurrency Analysis Tools

Posted by Kai Sedgwick on

Six New and Improved Cryptocurrency Analysis ToolsBlockchain explorers and cryptocurrency analysis sites just keep getting better. While Coinmarketcap (CMC) still dominates, these days it’s got stiff competition to contend with. Moreover, many of these platforms aren’t simply aspiring to be CMC knock-offs: they’re providing fresh tools for grasping the complexities of the ever-evolving cryptoconomy. Also read: 8 Alternatives to Coinmarketcap Cryptocurrency Tracker […]

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Ripple Passes Ethereum to Claim Number Two Ranking on CoinMarketCap

Posted by Molly Jane Zuckerman on

Altcoin Ripple has seen daily growth of around 140 percent to overtake Ethereum in market cap rankings on CoinMarketCap.

Altcoin Ripple (XRP), which has seen an explosive amount of growth over the past week, has overtaken Ethereum (ETH) to be ranked number two by total market capitalization on CoinMarketCap.

As of press time, Ripple has a listed market cap of around $26 billion, while Ethereum — now in third on CoinMarketCap — has around $23 billion in market cap. Bitcoin (BTC) is still ranked number one, with a market cap of around $115 billion.

Ripple has seen unprecedented 140 percent growth on the week, up almost 80 percent on the day alone, to trade at around $0.65 by press time.

Ripple weekly price chart

Ripple weekly price chart. Source: Cointelegraph Ripple Price Index

At the beginning of this week, Ripple executives hinted that its xRapid payment platform solution could soon be launched. Also this week, PNC, a top ten U.S. bank, announced that it would use RippleNet to process international payments for its customers.

Over a 24 hour period, total market capitalization of the crypto markets has gained around $26 billion dollars, with total market cap currently around $228 billion by press time.

Daily total market capitalization

Daily total market capitalization. Source: CoinMarketCap

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The Altcoin Correction Index Gives an Alternative View of Crypto Assets

Posted by Kai Sedgwick on

The Altcoin Correction Index Gives an Alternative View of Crypto AssetsAnalysts are always seeking new ways to assess cryptocurrencies. Different metrics provide insights that can be used to gauge various trends, such as estimating when a particular asset has bottomed out and is due to rise. The Altcoin Correction Index provides an unvarnished snapshot of this year’s worst performing cryptos. Also read: Blockchain, Reloaded: How the […]

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Researchers Find Discrepancies With Top Exchange Volumes

Posted by Jamie Redman on

Researchers Find Discrepancies With Top Exchange VolumesThis month the Blockchain Transparency Institute (BTI) published a research report that claims quite a few of the top cryptocurrency exchanges are overstating their trade volumes or participating in wash trades. BTI explains that out of 130 of the top cryptocurrency trading platforms researched, the organization estimates that every 24-hours over $6B worth of digital […]

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Total Crypto Market Cap Jumps $12 Billion in an Hour as BitMEX Pauses Trading

Posted by Olivia Capozzalo on

Crypto markets have seen sudden growth, coinciding with scheduled maintenance on major leveraged trading platform BitMEX.

Crypto markets spiked today, August 21, seeing notable gains amongst the top 100 coins in under an hour, as data from Coin360 shows.

coin360

Market visualization from Coin360

Total market capitalization of all cryptocurrencies shot up over $12 billion in just over an hour to peak at $222.8 billion, before dropping slightly to $291.7 billion by press time.

total

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

Bitcoin (BTC) had been trading sideways today around $6,400-$6,500 before seeing a sharp 5 percent spike in the space of just 45 minutes, peaking around $6,790. The leading cryptocurrency has since dropped slightly to trade around $6,715 at press time, stil up about 6.2 percent on the day.

btc

Bitcoin’s 1-day price chart. Source: Cointelegraph Bitcoin Price Index

Bitcoin is also boasting almost 6 percent growth on the week, while on the month the coin is down almost 10 percent, according to Cointelegraph’s Bitcoin Price Index.

All except one of the top ten cryptocurrencies have seen major growth during today’s spike, each gaining 4 to 9 percent on the day to press time.

Amongst the top ten coins, EOS (EOS) has seen the most growth over the 24-hour period, up 8.7 percent and trading at $5.19.

In the top twenty coins, altcoin VeChain (VET) has seen the most significant growth on the day, up a whopping 18.67 percent to trade at $0.015.

As a some commentators pointed out on Twitter, the sharp upswing across crypto markets began just as leveraged crypto trading platform BitMEX announced it was halting trading for scheduled maintenance at 1:00 AM UTC.

Crypto persona and self-described “crypto prophet” Beastlorion posted a series of Twitter polls in the hours leading up to BitMEX’s scheduled shutdown suggesting that the move would affect Bitcoin’s price.

BitMEX is not listed on CoinMarketCap’s Bitcoin price and volume averages because, as the tracking service states on their site, “[t]he BTC/USD market on BitMEX is a derivatives market NOT actually spot trading Bitcoin. As a result, it has been excluded from the price and volume averages of Bitcoin.”

On its official website, BitMEX describes itself as a “Peer-to-Peer Trading Platform that offers leveraged contracts that are bought and sold in Bitcoin,” reporting daily trade volumes of $3.76 billion. At press time, CoinMarketCap also lists BitMEX’s total BTC/USD trade volumes over the past 24 hours at around $3.7 billion.

According to CoinMarketCap, currently the largest crypto exchange by daily trade volume is Binance, with around $1.12 billion in total trades of all pairs over the 24-hour period to press time.

At press time, BitMEX’s most recent tweet, posted two hours ago, announced that it would be resuming trading within minutes.

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