At the beginning of the weekend on Saturday, significant cryptocurrencies saw a dip in their values, bitcoin prices especially dipped as the weekend opened. Other currencies, however, saw mixed reactions as their prices were mostly unstable.
Bitcoin is currently trading at $11370, a 4.62% drop of its earlier value. This figure is a slip from $11800. The price of bitcoin has witnessed some sudden slides in a matter of minutes. The prices went from $11800 to $11400, a feat that is yet to be seen for a long time now in the crypto world.
However, looking at the weekly chart, we get a different story as the crypto has gained up to 5.5% from the previous week’s close.
On the other hand, ETH has been able to hold on as the second-largest altcoin by market share in the world, and its value is currently at $21.9 billion; it’s market capitalization as of 10th August 2019 was at $12.45 billion.
Data from coin360 shows that the value of EHT has been on a downslide and has decreased by almost 2.63% within 24 hours, and this is just a day’s data, according to weekly statistics; the cryptocurrency has shed nearly 6.82% from last week’s close.
XPR has also witnessed a similar trend, and over the weekend, it has shed over 2.18% and is currently valued at $0.296. Weekly statistics point that the coin has dropped 5.62% to its last weekend’s value.
Cardano and Chain-link, however, have registered gains; the former gained 10.46% while the latter gained 5.46% respectively. The only cryptocurrency to have broken the norm and recorded an increase in value.
Tezos, on the other hand, was boosted by the news that Coinbase was to give it support; after this news, the coin witnessed an unprecedented price surge. Meanwhile, XTZ saw a poor performance, and of all the cryptocurrencies in the market, it lost over 5%, the highest so far witnessed in the markets.
From the analysis and data presented, it is right to claim that the week has been a bit slow for crypto traders as all the coins registered a downslide at the weekend except Cardano and Chain-link. Bitcoin was poised to soar to greater heights at the beginning of the week but started showing bullish behavior on Wednesday, and since then it has been on a roller-coaster ride.
Currently, the total market capitalization for all cryptocurrencies combined stand at about $294.2billion, this is about 1.2% higher than the previous week.