August 5: After yesterday’s market nosedive, (BTC) is up just slightly, hovering around the mark. All major altcoins are however showing marked signs of recovery, up between one and seven percent, as data from shows.
Market visualization from
(BTC) is trading around $7,040 to press time, holding ground on the day after its yesterday back to a price point not seen since July 17. The leading cryptocurrency could now be eyeing $6,800 as a short-term support, after several faltering pushes above the $7,000 threshold earlier today failed to hold. bitcoin’s weekly losses are now at around 14.05 percent, with monthly gains pinched to just under 8 percent.
bitcoin’s 24-hour price chart. Source: Cointelegraph
(ETH) is seeing slightly more significant daily gains, up 1-2 percent to trade around $412 at press time. The leading altcoin has nonetheless sustained a gradual decline to lose over $50 in value on its weekly chart, posting around a 11.35 percent loss. On the month, Ethereum is down 11.66 percent.
Ethereum’s 7-day price chart. Source: Cointelegraph
On ’s listings, all of the top fifteen coins are in the green, posting more solid gains between one and seven percent on the day.
(MIOTA) is a significant outlier, showing the strongest signs of recovery of the major altcoins with a solid 7.21 percent gain to trade around $0.91 at press time. Of the top ten coins, (ADA) is the second strongest performer on the day, up around 3.63 percent to trade around $0.13 at press time.
Among the top twenty coins by market cap, (ETC) is also seeing significant gains, growing 7.17 percent on the day and trading around $17.44 at press time. The altcoin’s mini rally kicked off late August 3, likely buoyed by of its on major U.S. crypto exchange and wallet service provider , set for August 7.
Ethereum Classic’s 7-day price chart. Source:
Total market capitalization of all cryptocurrencies is around $257.2 billion at press time –– up а solid $5 billion from yesterday’s low at $252.3 billion. Nonetheless, the markets have lost around $50 billion since late July’s to reach over $303 billion.
1-month chart of the total market capitalization of all cryptocurrencies from
As the market tumbled Friday, the week’s major remains the bullish revelation that the Intercontinental Exchange (ICE) – the operator of 23 leading global exchanges including the New York Stock Exchange (NYSE) – plans to create a cloud-powered ecosystem for digital assets that would cover the spectrum from federally regulated markets and warehousing to merchant and consumer needs.
As Cointelegraph reported today, Starbucks, one the enterprises partnering with ICE to build the digital asset ecosystem, that it will not be accepting (BTC) or other cryptocurrencies as payment, following misleading reports from mainstream media.
ICE has further revealed it will be offering physically-delivered BTC futures contracts as of this November – as long as it gets the green light from the U.S. Commodity Futures Trading Commission (CFTC).
Some analysts have that the would herald a significant institutionalization of the crypto landscape and be bullish for the markets – as from the cash-settled bitcoin futures currently traded on and exchanges.
Published at Sun, 05 Aug 2018 22:46:00 +0000
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