Tuesday, January 22nd – most of the 20 most important cryptocurrencies are recording losses from light to moderate on the day they went to press. The price of Bitcoin (BTC) is still above $ 3,550, according to Coin360 data.
Market display from Coin360
At the time of printing, Bitcoin is only down a fraction of the percent of the day, trading around $ 3.580. Looking at his weekly chart, the current price is about $ 100 less than $ 3,682, the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ripple (XRP) is down slightly more than 1% of the day, trading around $ 0.317 at the time of printing. On the weekly chart, the current price is less than $ 0.331, the price at which XRP started the week – and down from $ 0.333, the highest of the week indicated on January 19th.
7 days price chart ripple. Source: CoinMarketCap
The second largest Ethereum altar (ETH) has seen its value decrease by about half a percentage point in the last 24 hours. At the time of printing, ETH is trading at $ 117, having started the day around the same price. The currency collapsed abruptly today a few hours before the print time of up to $ 114.
On the weekly chart, the current value of Ethereum is about 8.5 percent lower than $ 128, the price at which the currency began the week.
7-day chart of Ethereum. Source: CoinMarketCap
Among the first 20 cryptocurrencies, the currency that recorded the most notable price action is Tron (TRX), which is close to 3% of the day.
The combined market capitalization of all cryptocurrencies – currently around $ 119.5 billion – is less than $ 122.8 billion, the value reported a week ago. Even the total market capitalization has seen a sharp downward trend today, falling to $ 117 billion, before recovering value in the hours up to press time.
7-day chart of the total encrypted market. Source: CoinMarketCap
As recently reported by Cointelegraph, according to the research published by the Bank for International Settlement, the problems of Bitcoin can be solved only starting from a system of proof of work.
In addition, the news recently revealed that Huw van Steenis, senior adviser to the UK Bank Governor, told reporters in Davos, Switzerland that cryptocurrencies fail fundamental financial services testing.