Wednesday 8 November: the majority of cryptocurrencies saw a drop today, with the most visible losses seen by Bitcoin Cash (BCH) and Ripple (XRP), as shown by Coin360 data. At the time of the press, the markets are seeing mixed signals, mostly remaining in red.
Market display from Coin360
While at the beginning of the week Bitcoin (BTC) was mostly in the green, almost 2% the day of Monday 5 November, today the main currency is around zero, remaining mostly in red and trading around $ 6,450 as of printing time.
Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin price index
Ethereum (ETH) is also about 2% lower than the day, being traded slightly over $ 213 at the time of printing. The currency is seeing some stability after it has regained its second place, bypassing Ripple (XRP) by market capitalization.
Ethereum 7-day price table. Source: CoinMarketCap Ethereum Price Index
Ripple (XRP), in turn, is currently trading at $ 0.50, falling to 5.6 percent in the day at the time of printing. As with its weekly charts, the currency reached its peak on Tuesday 6 November, when the currency temporarily exceeded Ethereum as the second largest altcoin.
7 days price chart ripple. Source: CoinMarketCap Ripple Price index
The total market capitalization of all cryptocurrencies is about $ 215 billion at the time of printing, falling from $ 219 billion in the last 24 hours. According to the daily trading volume, it also fell from yesterday, November 7, to about $ 13.5 billion at the time of the press.
Weekly chart of total market capitalization. Source: CoinMarketCap
18 of the 20 major cryptocurrencies are in red, with Bitcoin Cash (BCH), Ripple (XRP) and NEM (XEM) which see the biggest drops in the last 24 hours according to CoinMarketCap. BCH lost a distinctive 4.8 percent after a nearly a week's growth after its impending fork, which is backed by the major cryptocurrency Binance. At the time of printing, the currency was trading at around $ 589.
Dash (DASH) is the only crypt to see a slight growth in the top 20 coins, up to 1% of the day and trading at around $ 167 at the time of printing.
Meanwhile, today, November 8, two Asian countries have called for more encrypted regulation. The deputy prime minister of Thailand, Wissanu Krea-ngam, urged lawmakers to change the existing legal framework for the crypto-set in May 2018, to meet the development of technology, warning about possible dangers to consumers. Meanwhile, South Korean lawyers have put pressure on the local government to speed up its work and also accelerate a legal framework for cryptocurrencies.
Yesterday, November 7, cryptic Twitter saw an extensive discussion in response to William Shatner's tweet positive about Ethereum co-founder (ETH) Vitalik Buterin.
The Canadian actor, best known for the role of Captain James T. Kirk in Star Trek, posted an emoji thumbs-up that tags Buterin on Twitter, sharing the post with its 2.5 million followers. Shatner was then involved in a debate on the decentralization of the ETH network, demonstrating familiarity with the ERC standards in his refutation to "trypate crypt"[s]".