BTC and an array of other digital assets dropped substantially on Wednesday. When going to publication, there has been around $59 billion worth of daily trades happening between the most accessible cryptos. BTC has a hold on the top position and commands 69% of the $263 billion market cap. As of present, BTC is trading at around $10,124 per coin and has a general market valuation of about $181 billion. Among the top fiat currencies that were trading with BTC on Wednesday include JPY and USD, and USDT captures more than 66% of all Bitcoin (BTC) trades. BTC has lost about 6% over the last 24 hours and 2.1% in the previous week
Following closely behind in value market cap is ethereum (ETH) where each coin is being swapped for $185 per coin. ETH is down 5.8% today, and there is $7.4 Billion in worldwide ETH trades. XRP has seen the tiniest volatility over the last few weeks. One Xrapid is trading for $0.26, and markets are down 3.4% today and 5% for the week. Lastly, LTC commands the fifth-largest assessment, and each LTC is trading for $73. LTC has dropped only 3.6% today but lost more than 7.9% this week.
Bitcoin Cash (BCH) still grasps the fourth position, and each BCH is dealing for $299. BCH has a general market cap of about $5.3 billion and about $1.39 billion in trade capacities. Today BCH is depressed more than 5% and over 8% over the last seven days. Everyday trades (txn) this Wednesday have been about 43,000, and BCH has had an average of around 40K txn each day from April. BCH is the sixth most dealt digital asset on August 21, just under of EOS and directly above XRP. Tether (USDT) holds about 57% of all BCH trades, which is followed by BTC (22.4%), USD (8.5%), ETH (5.9%), and KRW (2.4%).
Notwithstanding the dwindling prices, traders and crypto enthusiasts on social media are still positive about digital currency markets and BTC prices. Prevalent Twitter trader Jacob Canfield declares the charts appear like an “attractive typical growing block that hit opposition.” “First provision zone didn’t clamp up price at all — Idyllic buy region $8900-$9100 should we arrive there,” Canfield settled on Wednesday. For the meantime, Mark Mobius, the founder of Mobius Capital Partners, expressed to the press this week that cryptocurrencies are “psycho currencies.” “I call them psycho currencies since it’s a matter of faith whether you believe in bitcoin or any of the other cyber-currencies,” Mobius elucidated during an interview.