Bitcoin News — Ethereum Price

Crypto Markets See Visible Drop Off as Major Coins Are in The Red

Posted by Ana Berman on

13 of the 20 top cryptocurrencies are in the red, with Bitcoin Cash and Ripple losing up to 4 percent over the day.

Wednesday, Nov. 8: most cryptocurrencies have seen a drop-off today, with the most visible losses seen by Bitcoin Cash (BCH) and Ripple (XRP), as data from Coin360 shows. As of press time, the markets are seeing mixed signals, mostly staying in the red.

Market visualization from Coin360

While in the beginning of the week Bitcoin (BTC) was mostly in the green, up almost to 2 percent on the day Monday, Nov. 5, today the major coin is hovering around zero, mostly staying in the red and trading around $6,450 as of press time.

Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin Price Index

Ethereum (ETH) is also about 2 percent down on the day, being traded slightly over $213 as of press time. The coin is seeing some stability after it has regained its second spot, bypassing Ripple (XRP) by market capitalization.

Ethereum 7-day price chart. Source: CoinMarketCap Ethereum Price Index

Ripple (XRP), in its turn, is currently trading at $0.50, dropping as much as 5.6 percent over the day as of press time. As per its weekly charts, the currency has seen its peak on Tuesday, Nov. 6, when the coin temporarily overtook Ethereum as the second largest altcoin.

Ripple 7-day price chart. Source: CoinMarketCap Ripple Price Index

Total market capitalization of all cryptocurrencies is around $215 billion at the press-time, falling from $219 billion over the last 24 hours. According to daily trading volume, it has also dropped in comparison to yesterday, Nov. 7, hovering around $13.5 billion as of press time.

Weekly total market capitalization chart. Source: CoinMarketCap

18 of the 20 major cryptocurrencies are in the red, with Bitcoin Cash (BCH), Ripple (XRP) and NEM (XEM) seeing the biggest drops in last 24 hours according to CoinMarketCap. BCH has lost a distinctive 4.8 percent after almost a week-long growth following its upcoming hard fork, which is backed by major crypto exchange Binance. As of press time, the coin was traded at around $589.

Dash (DASH) is the only crypto to see a slight growth among top 20 coins, up to 1 percent on the day and trading at around $167 as of press time.

Meanwhile, today, Nov. 8, two countries in Asia have called for clearer crypto regulation. The Deputy Prime Minister of Thailand, Wissanu Krea-ngam, urged to lawmakers to amend the existing legal framework for crypto — set in May 2018 — to meet the development of the technology, warning about possible dangers for consumers. In the meantime, South Korea’s lawyers have lobbied the local government to speed up its work and expedite a legal framework for cryptocurrencies as well.

Yesterday, Nov. 7, crypto Twitter saw an extensive discussion in response to William Shatner’s positive tweet about Ethereum (ETH) co-founder Vitalik Buterin.

The Canadian actor, most known for his role of captain James T. Kirk in Star Trek, posted a thumbs-up emoji tagging Buterin on Twitter, sharing the post to his 2.5 million followers.  Shatner was then drawn into a debate over the ETH network’s decentralization, showing familiarity with ERC standards in his rebuttal to “crypto troll[s].”

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Top Coins See Mixed Signals, Mostly Trading Sideways

Posted by Ana Alexandre on

Cryptocurrency markets have seen mixed signals, with most top coins trading sideways and Bitcoin holding on to its weekly growth.

Wednesday, Nov. 7: most major coins are slightly down today, with Bitcoin (BTC) holding on to this week’s growth. The markers are seeing mixed signals as of press time, with most top coins trading sideways, up or down by around one percent.

Market visualization from Coin360

Market visualization from Coin360

BTC is up 1.3 percent over the last 24 hours, and trading at around $6,527 at press time. The leading digital currency have seen insignificant volatility during the day, having dropped to as low as $6,441, while the intraday high reached $6,531. In terms of a weekly view, BTC has jumped by more than 3 percent, with $6,304 as its lowest price point on Nov. 1.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin 7-day price chart. Source: CoinMarketCap ​​​​​​​

Ethereum (ETH) is up 0.16 percent on the day, hovering at around $218 at press time. The second largest altcoin has seen small volatility over the day, with $215 as its lowest price point, and $221 as the highest at press time. Yesterday, ETH won back its position as the second largest cryptocurrency with a market capitalization from Ripple (XRP), which had briefly overtaken ETH as largest altcoin by market cap.

Ethereum 24-hour price chart. Source: CoinMarketCap​​​​​​​

Ethereum 24-hour price chart. Source: CoinMarketCap

XRP has experienced slight losses during the last 24 hours, dropping by 1.35 percent and trading at $0.534 at press time. On Nov. 6, XRP surged by almost 10 percent on the day, which resulted in it briefly overtaking ETH in terms of market cap. On its weekly chart, XRP is up more than 19 percent.

Ripple 24-hour price chart. Source: CoinMarketCap

Ripple 24-hour price chart. Source: CoinMarketCap

Of the top 20 cryptocurrencies, Stellar (XLM), TRON, Ethereum Classic (ETC), and DASH have seen biggest drops at press time by around 2 percent, according to CoinMarketCap.

Total market capitalization is over $219 billion, with an intraday high of $221 billion. Over the week, total market cap has been gradually raising from its lowest point around $203 on Nov. 1.

Total market capitalization weekly chart. Source: CoinMarketCap

Total market capitalization weekly chart. Source: CoinMarketCap

Meanwhile, an interdepartmental team set up by the governor of the Bank of Israel to “examine the issue of central bank digital currencies,” has recommended that the country’s central bank not issue its own token in the near future. The team outlined the necessity of further investigation “before there are proper grounds for a decision to recommend issuing digital currency.”

The Financial Services Commission (FSC) of the Republic of Mauritius has released a draft regulatory framework for crypto custodian services as the country aims to establish regulation for custodian services for digital assets. The FSC will issue a custodian service license that will allow an entity to operate as a holder of digital assets as well as to function as safe keeper of the assets.

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Crypto Markets in The Green, XRP Sees Major Boost Briefly Overtaking ETH by Market Cap

Posted by Ana Alexandre on

Top digital currencies have seen significant gains on the day, with Ripple briefly overtaking Ethereum as the top altcoin by market capitalization.

Tuesday, Nov. 6: top cryptocurrencies have seen strong gains on the day, with Ripple (XRP) temporarily overtaking Ethereum (ETH) as the top altcoin by market capitalization.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is up 0.3 percent over the last 24 hours, and is trading at around $6,447 as of press time. Having briefly dipped below $6,400 during the day, BTC has rebounded and is pushing a slightly higher price point. BTC is still down 1.67 percent over the past 30 days.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin 7-day price chart. Source: CoinMarketCap ​​​​​​​

ETH has seen some growth over the 24-hour period, up 3.64 percent from $206 to $215 at press time. ETH has won back its position as the second largest cryptocurrency with a market capitalization of $22.2 billion at press time.

Ethereum 24-hour price chart. Source: CoinMarketCap

Ethereum 24-hour price chart. Source: CoinMarketCap

The XRP price has increased by almost 10 percent on the day, which resulted in it briefly overtaking ETH in terms of market cap. At press time, XRP is trading at $0.53, while the coin’s market cap is around $21.4 billion.

Ripple 24-hour price chart. Source: CoinMarketCap

Ripple 24-hour price chart. Source: CoinMarketCap

Bitcoin Cash (BCH) is still seeing gains following its recent hard fork, gaining 8.59 percent on the day and trading around $602 at press time. On its weekly chart, the coin’s lowest price point was on Oct. 31 at $415, but has steadily moved to its highest point of $607 today.

Bitcoin Cash 7-day price chart. Source: CoinMarketCap

Bitcoin Cash 7-day price chart. Source: CoinMarketCap

Stellar (XLM) is trading at around $0.260 as of press time, having gained almost 7 percent on the day. The altcoin’s market cap is around $4.93 billion, while its daily trading volume is around $95.4 million.

Total market capitalization of all cryptocurrencies is over $217 billion at press time, according to CoinMarketCap, after seeing an intra-week low on Oct. 31 around $202 billion.

Total Market Capitalization 7-day chart. Source: CoinMarketCap

Total Market Capitalization 7-day chart. Source: CoinMarketCap

On Nov. 5, Michael Novogratz delivered a fresh bullish price prediction for BTC, suggesting that  the leading cryptocurrency could hit highs of “$20,000 or more” in 2019. Novogratz said that next year conditions should change markedly, with institutional investors’ “FOMO” (‘fear of missing out’) causing a surge in prices.

Also yesterday, BTC futures trading on the U.S. Chicago Board Options Exchange (CBOE) hit record low volatility levels in October, in stark contrast to the rocky global equity markets. The average weekly volatility for the week ending Oct. 26 was reportedly just three percent for XBT-CBOE Bitcoin futures, the lowest ever level since they launched for trading on Dec. 10, 2017.

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Crypto Markets See Widespread Wave of Green, Bitcoin Pushes $6,500

Posted by Marie Huillet on

Crypto markets are seeing a wave of decent growth, with all of the top twenty cryptocurrencies by market cap in the green.

Monday, Nov. 5: crypto markets are seeing a wave of decent growth, with all of the top twenty cryptocurrencies by market cap in the green, as data from Coin360 shows.

Market visualization by Coin360

Bitcoin (BTC) is today up close to two percent, trading around $6,400 at press time. Since sustaining mild losses Oct. 29-31, the top coin has in early November been edging close to the $6,400 mark, but failed to break through until today’s solid boost.

In a tweet today, crypto commentator Joseph Young underscored the comparatively higher trade volumes for Bitcoin, which are today at around $4.4 billion for the 24-hour period, according to CoinMarketCap (CMC). CMC’s historical data shows a trend of rising BTC trade volumes, which had stagnated towards $3.2-3.6 billion multiple times in October – notwithstanding the market rally Oct. 15, when volumes briefly spiked to almost $7.4 billion.

On the week, Bitcoin is now around 2.2 percent in the green, with monthly losses at 3.3 percent.

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

Ethereum (ETH) has been the strongest 24-hour performer among the top ten coins, seeing around 5 percent growth on the day to trade just under $210. Despite seeing lacklustre sideways trading in recent weeks and even some mild losses since it’s rapid price plummet Oct. 10-11, the leading altcoin has seen strong upwards momentum over the past 24 hours.

On its weekly chart, Ethereum is an impressive almost 8 percent in the green; on the month, the coin is about the same amount in the red, down 7.7 percent.

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

The remaining top twenty coins on CoinMarketCap are all in the green, mostly within a 1-3 percent range. After Ethereum, the strongest performer is DASH (DASH), up almost 5 percent at $168.

In the context of the top twenty coins, Bitcoin Cash (BCH) and IOTA (MIOTA) are both up a strong 3 percent. The 20th largest altcoin Vechain (VEC) is pushing 4 percent growth to trade at $0.01.

Earlier today, major Hong Kong-based cryptocurrency derivatives platform BitMEX announced it has launched a network monitoring tool for both Bitcoin and Bitcoin Cash, dubbed ForkMonitor.info, which it describes as “useful for monitoring the situation during network upgrades (softforks or hardforks). The release has been explicitly timed to coincide with the Bitcoin Cash hard fork, scheduled for Nov. 15.

Total market capitalization of all cryptocurrencies is around $212.66 billion as of press time, up from $203.5 billion at the start of the weekly chart.

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

Securities lawyer Jake Chervinsky emphasized on crypto twitter that today’s date, Nov. 5, is the deadline for the public to submit statements to the U.S. Securities and Exchange Commission (SEC) as part of the Commission’s review of various – previously rejected – Bitcoin ETF proposals.

Some crypto industry figures, including CNBC’s Ran NeuNer in a tweet Friday, have implied that the Nov. 5 deadline pertains to an actual SEC decision, which, as Chervinsky notes, is not the case.

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Bitcoin Cash Spikes 20 Percent in the Wake of Upcoming Hard Fork Backed by Binance

Posted by Helen Partz on

Bitcoin Cash has spiked 20 percent in the wake of an upcoming hard fork supported by now-second largest exchange Binance.

 

Sunday, Nov. 4: crypto markets have seen a lot movement today, with most of the top 20 coins by market cap seeing significant growth, and with Bitcoin Cash (BCH) spiking almost 21 percent by press time.

Market visualization

Market visualization from Coin360

Bitcoin Cash, the fourth top cryptocurrency by market capitalization, has grown sharply from $473 at the beginning of the day to as high as $573 as of press time, which is the highest trading point of the cryptocurrency over the past month. Trading around $420 for the most part of the week, Bitcoin Cash started this upward trend on Nov. 2.

The fourth top coin is up around 30 percent over the past 7 days in the wake of the now-second largest global crypto trading platform Binance recent announcement of support for Bitcoin Cash’s upcoming hard fork.

Bitcoin Cash 7-day price chart

Bitcoin Cash 7-day price chart. Source: CoinMarketCap Bitcoin Price Index

While most top cryptos have seen an influx of gains, Bitcoin (BTC) is one of few coins that suffered some losses today. As of press time, the major cryptocurrency is down some 0.4 percent and trading at $6,327. The coin is down around 2.2 percent over the past 7 days, and Bitcoin’s dominance on the market has slightly dropped over the day from 53.3 percent to its current 52.5 percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin Price Index

Ethereum (ETH), the second cryptocurrency by market cap, is up almost 1.5 percent over the past 24 hours and trading at around $203 at press time. The coin is down around 0.7 percent over a 7 day period.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap Ethereum Price Index

Ripple (XRP), the third top cryptocurrency by market cap, is seeing similar gains, up around 1.3 percent and trading at $0.46. The cryptocurrency is balancing its weekly gains, up around 0.8 percent over the past 7 days.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap Ripple Price Index

Total market cap has seen a significant rebound up to about $209 billion at press time. Earlier this week, the total capitalization of crypto markets had dropped to as low as $201 billion. Daily trade volume has seen a sharp spike from yesterday’s $10 billion, amounting now to $13 billion.

Total market capitalization chart

Total market capitalization chart. Source: CoinMarketCap

Other altcoins that have seen sufficient growth today are Litecoin (LTC), Cardano (ADA), and Dash (DASH). All the coins are up more than 7 percent over the past 24 hours, and trading at $55, $0.08, and $166 respectively at press time.

Another coin that has experienced some losses on the day along with Bitcoin is NEM (XEM), which is down around 0.6 percent and trading at $0.09 at press time.

Major global crypto exchange Binance had confirmed on Nov. 2. they will support the upcoming Bitcoin Cash hard fork, which will take place when “the median time past [1] of the most recent 11 blocks (MTP-11) is greater than or equal to UNIX timestamp 1542300000.”

The exchange notified its users that deposits and withdrawals of Bitcoin Cash will be suspended starting on Nov. 15, claiming that users should leave enough time for deposits to be processed in “full prior to this time.”

Meanwhile, tomorrow, Nov. 5, the U.S. Securities and Exchange Commission (SEC) will face a deadline for reviewing proposed rule changes related to a series of applications to list and trade various Bitcoin exchange-traded funds (ETFs).

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