Saturday, October 6: cryptographic markets remain fairly stable throughout the day, despite major industry news this week, including institutional investment and an update of the SEC on their expected decisions on Bitcoin's ETF.
CNBC's CryptoTrader presenter Ran Neuner commented on Twitter today all the "good news" this week – as the brokerage firm TD Ameritrade and Ivy League, the American university Yale which is turning into a crypt – are "linked to investments and speculation". Neuner suggested that perhaps such news was not shifting the market because the market is now oriented towards a narrative "of the adoption and massive use of the real world".
Indeed, Bitcoin (BTC) has recently shown uncommon price stability in the last month, moving comfortably from $ 6,300 to $ 6,600 as of September 6, according to the Cointelegraph's Bitcoin Price Index.
All the best coins, with the exception of Ripple (XRP) also show little change, precisely in the last 24 hours, as shown by Coin360 data.
Market display from Coin360
Bitcoin traded around the $ 6,600 threshold for most of the day, with an intraday peak of $ 6.643 and a minimum of $ 6.566. The main cryptocurrency is trading at 6,597 dollars at the time of printing, not seeing almost price fluctuations in the last 24 hours, with a growth of around 0.2%.
As shown on the Bitcoin one-year price index, Bitcoin has actually moved around the same levels since mid-June this year, roughly when the cryptocurrency was trading at $ 6,500. However, Bitcoin also saw some peaks during the period, with its price breaking the $ 7000 points three times, on July 17th, August 28th and September 1st.
Bitcoin price chart for one year. Source: Cointelegraph Bitcoin Price Index
Ethereum (ETH), second cryptocurrency by market capitalization, is slightly upward, about 0.39% in the last 24 hours at the time of the press, trading at $ 224. Looking at the one-year chart of the currency, the The leader altcoin is just recovering now from the recent lowest point of this year up to $ 175 on September 12th.
Chart of the annual price of Ethereum. Source: Cointelegraph Ethereum price index
Ripple (XRP), the third largest cryptocurrency by market capitalization, has seen a far more dramatic price movement on the day of its currencies, falling 7% in the last 24 hours and recording nearly 15% of losses during the week.
However, the highest altcoin has increased significantly over the last 30 days, increasing by around 80% during the day of 21 September and bypassing Ethereum to move into second place by market capitalization. Ripple holds about 60 percent of his earnings over the 30 days.
30-day price chart ripple. Source: Cointelegraph Ripple Price Index
The total market capitalization of all cryptocurrencies amounts to $ 217.8 billion at the time of printing, with an increase of over $ 220 billion at the start of the day. Daily trading volume is $ 11.4 billion at the time of printing, after rising $ 17 billion on September 28th.
7-day chart of total market capitalization. Source: CoinMarketCap
Binance Coin (BNB) and NEM (XEM) are seeing the biggest losses – although still rather mild – among the top 10 or 20 coins by market capitalization in the last 24 hours. Binance Coin is down 1.8%, trading at $ 10.44, while the NEM is down 2.35%, trading at $ 0.103. At the start of this week, NEM had seen significant growth, followed by a second day of earnings. At the time of printing, the NEM is still 8% higher during the week.
In terms of higher growth among the top 20 coins in the last 24 hours, Tron (TRX) recorded the biggest gains at the time of printing. The currency increased by 2.46%, trading at $ 0.023.
Alongside the major announcements of institutional investments made by global institutions this week, on 3 October, the Gemini exchange of the Winklevoss twins secured insurance on their digital assets.
Later in the week, the US Security and Exchange Commission (SEC) set a deadline for revising changes to the proposed rules for a series of applications to list and exchange various Bit-to-Business Exchange (ETF) trades traded with Bitcoin ( a subject much discussed in the industry.