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Saturday, December 8 – In a new crash of yesterday's cryptic markets, the ranks of cryptocurrencies change continuously while the currencies overlap each other by market capitalization. While green prevails among the top 100 coins, the markets move sideways, with the total market cap hovering at the same levels as yesterday.
Market display from Coin360
Bitcoin SV (BSV), the hard fork of Bitcoin Cash (BCH) that had been ranked fifth on CoinMarketCap yesterday, is now at the top of the list, with the main Tether stablecoin (USDT) that has detected both BSV and Bitcoin Cash . Tether's market capitalization now stands at over $ 1.8 billion, while BCH and BSV are almost equal to market capitalizations of about $ 1.8 billion, traded at a price equal to about $ 100 at the time of printing.
Recently, the Winklevoss Gemini encrypted exchange has announced the listing of the custody and trading of Bitcoin Cash, adding that their platform "will provide support only for the ABC network of Bitcoin".
The first 7 cryptocurrencies for market capitalization. Source: CoinMarketCap
Bitcoin (BTC) fell slightly by about 0.7 percent and traded at $ 3.399 at the time of printing. Yesterday, 7 December, the main cryptocurrency fell to $ 3,280, reaching a new record of its lowest price since August 2017. With a current market share of almost 55%, Bitcoin traded around the $ 3,450 threshold in the course of the day.
As reported by Cointelegraph yesterday, additional Bitcoin lows occurred following the recent decision by the US Securities and Exchange Commission (SEC) to delay the reconsideration of rule changes to the first exchange-traded national fund (ETF) from VanEck investment company and SolidX blockchain company.
After the announcement, SEC's relatively secretive commissioner, Hester Peirce, advised not to "hold his breath" on the approval of the ETF, arguing that it might take "in 20 years or tomorrow ".
Bitcoin 24-hour price chart. Source: Bitcoin price index of CoinMarketCap
Ripple (XRP), the second cryptocurrency by market capitalization, has been down 1.7 percent in the last 24 hours, trading at $ 0.29 at the time of printing.
24-hour price graph ripple. Source: CoinMarketCap Ripple Price index
In contrast, Ethereum (ETH), the third highest cryptocurrency by market capitalization, is up 3.8%, trading at nearly $ 90 at the time of printing. The highest altcoin fell yesterday to a double-digit threshold for the first time since May 2017.
Yesterday, the main developers of Ethereum have agreed to launch Constantinople's constant-coin pitches recently expected to block 7,080,000, which is estimated to take place after January 14, 2019.
All time chart of Ethereum. Source: CoinMarketCap Ethereum Price Index
In eighth position by market capitalization, EOS (EOS) sees some of the biggest losses among the top 20 coins by market capitalization. The currency is trading at $ 1.67, which is a decline of over 43 percent compared to the week.
While the markets are attempting further consolidation, some cryptocurrencies have managed to see sufficient growth over the 24 hours. ZCash (ZEC) and Dash (DASH) are among the top 20 scrambled, both with growth of over 7.5% and trading at around $ 57 and $ 67 respectively, according to CoinMarketCap.
Total market capitalization is $ 107 billion at the time of printing, with a slight decline in the last hour. At the start of the day, market capitalization had shrunk to $ 103 billion, the lowest record since August 2017, similar to Bitcoin price dynamics. The daily trading volume amounts to over $ 16 billion.
Graph of total market capitalization. Source: CoinMarketCap
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