There has been good news in the crypto markets in recent times as at least half of the cryptocurrency at the top of the chain experienced increase and gains in the market. However, despite the gains that have been made, the entire market did not see much growth as big names cryptos such as bitcoin and Ethereum grew by about one percent.
Bitcoin, in particular, has seen some fluctuation in prices during the day as the prices have risen to about $6233 at some point and had fallen to about $6200 also in the same day. Throughout the day, it is estimated that the bitcoin was down for about 0.3 percent. Overall, the bitcoin market maintains it’s far-reaching dominance in the cryptocurrency market by about 53.9%.
For Ethereum, they would be pleased and satisfied that they did a lot better than bitcoin. Ethereum was on the rise recording about one percent increase. This increase allowed Ethereum to rise to about $199. This was an increase of about $8 from the price on the 11th of October.
One cryptocurrency which was on the decline was Ripple. Ripple which seemed to be on the increase of late fell and at the end of the day traded for just $0.42. However, their increase was not completely affected due to the rapid increase that has been occurring since midway September. The entire market capitalization also saw some highs and lows throughout the day, it remained around the $200 billion marks. However, the highest it ever rose was $202.8 billion while the lowest it fell was around 200.7 billion dollars.
The volume of crypto which is recorded daily fell for the first time to just below $10 billion for the first time on the 26th of August. At this period, bitcoin was trading for about $6700 while Ethereum was trading at around the $270 mark.
It should also be noted that TRON which happens to be the 11th largest cryptocurrency is certainly on the rise. Their increase comes at a period of time where they have been linked with a big deal which would see them pair up with the Chinese search engine – Baidu. The deal is believed to be worth billions of dollars. This saw TRON go up to about 1.4 percent.
The deal is believed to be worth billions of dollars. This saw TRON go up to about 1.4 percent.
It should also be noted that the renowned economist Roubini told the US Congress in his testimony of his great disapproval for everything that cryptocurrency stands for. He also followed this up with a tweet where he referred to cryptocurrency as a form of fascism and paranoia. In reply to this tweet Whalepanda who is an advocate for cryptocurrency referred to the tweet as of the dumbest tweet ever.
This has also led to crypto analyst Ran-neu-ner holding a poll on his twitter handle asking who should step up to debate with him. The polls suggest the owner of Ethereum vitamin Buterin is a worthy opponent and should be the person to debate with Roubini.
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